v3.26.1
Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Subscription Receivable
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Series A preferred stock
Series B preferred stock
Series C preferred stock
Beginning balance (in shares) at Dec. 31, 2024             $ 36,860 $ 66,285 $ 0
Beginning balance at Dec. 31, 2024             12,865,375 55,246,971 0
Subscriptions Receivable, beginning balance at Dec. 31, 2024 $ (3,848)                
Redeemable Convertible Preferred Stock                  
Issuance of Redeemable Convertible Preferred Stock, net of issuance costs (in shares)               6,998,834  
Issuance of Redeemable Convertible Preferred Stock, net of issuance costs               $ 8,423  
Subscription receivable settled through research and development services received 357                
Ending balance (in shares) at Mar. 31, 2025             $ 36,860 $ 74,708 $ 0
Ending balance at Mar. 31, 2025             12,865,375 62,245,805 0
Subscriptions Receivable, ending balance at Mar. 31, 2025 (3,491)                
Beginning balance (in shares) at Dec. 31, 2024   736,933              
Beginning balance at Dec. 31, 2024 (48,480) $ 1 $ 750   $ 0 $ (49,231)      
Stockholders' Equity (Deficit)                  
Stock-based compensation 213   213            
Unrealized loss on marketable securities 0                
Net loss (12,400)         (12,400)      
Ending balance (in shares) at Mar. 31, 2025   736,933              
Ending balance at Mar. 31, 2025 (60,667) $ 1 963   0 (61,631)      
Beginning balance (in shares) at Dec. 31, 2025             $ 36,860 $ 78,903 $ 150,563
Beginning balance at Dec. 31, 2025             12,865,375 62,245,805 118,682,683
Subscriptions Receivable, beginning balance at Dec. 31, 2025 (1,849)                
Redeemable Convertible Preferred Stock                  
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)             (12,865,375) (62,245,805) (118,682,683)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering             $ (36,860) $ (78,903) $ (150,563)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering 1,849                
Ending balance (in shares) at Mar. 31, 2026             $ 0 $ 0 $ 0
Ending balance at Mar. 31, 2026             0 0 0
Subscriptions Receivable, ending balance at Mar. 31, 2026 $ 0                
Beginning balance (in shares) at Dec. 31, 2025 749,760 749,760              
Beginning balance at Dec. 31, 2025 $ (121,014) $ 1 2,346 $ 0 60 (123,421)      
Stockholders' Equity (Deficit)                  
Issuance of common stock in connection with initial public offering, net of issuance costs (in shares)   17,339,294              
Issuance of common stock in connection with initial public offering, net of issuance costs of $25,666 269,102   269,102            
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)   19,250,410              
Conversion of redeemable convertible preferred stock to common stock upon initial public offering 264,477   266,326 (1,849)          
Subscription receivable settled through research and development services received 621     621          
Stock-based compensation 5,259   5,259            
Stock option exercises (in shares)   826              
Stock option exercises 11   11            
Unrealized loss on marketable securities (584)       (584)        
Net loss $ (27,232)         (27,232)      
Ending balance (in shares) at Mar. 31, 2026 37,340,290 37,340,290              
Ending balance at Mar. 31, 2026 $ 390,640 $ 1 $ 543,044 $ (1,228) $ (524) $ (150,653)