v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 123 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Cash flows from operating activities:      
Net loss $ (32,588) $ (25,473)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 33 43  
Stock-based compensation 4,466 2,042  
Non-cash lease expense 151 53  
Changes in operating assets and liabilities:      
Other current assets and prepaid expenses 5,214 (839)  
Accounts payable 1,091 (2,083)  
Accrued expenses 4,208 4,711  
Other liabilities 273 (172)  
Operating lease liability (149) (58)  
Net cash used in operating activities (17,301) (21,776)  
Cash flows from investing activities:      
Purchases of property and equipment (2) (47)  
Net cash used in investing activities (2) (47)  
Cash flows from financing activities:      
Proceeds from February 2026 Private Placement, net of issuance costs 187,263 0 $ 684,900
Net cash provided by financing activities 188,642 0  
Effect of exchange rate changes on cash and cash equivalents (193) 459  
Net change in cash and cash equivalents 171,146 (21,364)  
Cash and cash equivalents, beginning of period 15,483 35,668  
Cash and cash equivalents, end of period 186,629 14,304 $ 186,629
Shares reserved for the January 2024 Pre-funded stock warrants      
Cash flows from financing activities:      
Proceeds from exercise of Series B warrants, net of issuance costs 2 0  
Series B Warrants      
Cash flows from financing activities:      
Proceeds from exercise of Series B warrants, net of issuance costs $ 1,377 $ 0