v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 52,909 $ 46,042
Short-term investments 129,696 169,941
Prepaid expenses and other current assets 5,736 7,247
Total current assets 188,341 223,230
Property and equipment, net 386 412
Right-of-use assets - operating leases 5,066 4,813
Long-term investments 30,037 17,670
Other non-current assets 3,843 2,884
Total assets 227,673 249,009
Current liabilities:    
Accounts payable 4,787 2,007
Related party payable $ 11 $ 7
Other Liability, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Accrued expenses and other current liabilities $ 7,826 $ 9,131
Operating lease liability 1,599 1,637
Total current liabilities 14,223 12,782
Operating lease liability, net of current portion 3,743 3,444
Total liabilities 17,966 16,226
Commitments and contingencies (Note 14)
Convertible preferred stock 325,328 325,328
Stockholders' deficit    
Common stock, par value $0.0001; 159,070,000 shares authorized; 2,595,342 and 2,594,960 shares issued and outstanding as of March 31, 2026 and December 31, 2025 respectively 1 1
Cumulative translation adjustment 0 0
Additional paid-in capital 23,831 21,262
Accumulated other comprehensive income 64 301
Accumulated deficit (139,517) (114,109)
Total stockholders' deficit (115,621) (92,545)
Total liabilities, convertible preferred stock and stockholders' deficit 227,673 249,009
Series A-1 Convertible Preferred Stock    
Current liabilities:    
Convertible preferred stock 0 0
Series A-2 Convertible Preferred Stock    
Current liabilities:    
Convertible preferred stock 99,757 99,757
Series B Convertible Preferred Stock    
Current liabilities:    
Convertible preferred stock $ 225,571 $ 225,571