v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Dec. 07, 2025
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Receivables under collaboration agreements (includes $0 and $1,000 as related party as of March 31, 2026, and December 31, 2025, respectively) $ 3,360 $ 1,152     $ 589  
Prepaid expenses and other current assets (includes $910 and $1,110 as related party as of March 31, 2026, and December 31, 2025, respectively) 1,718 1,425     797  
Accounts payable (includes $30 and $190 as related party, as of March 31, 2026, and December 31, 2025, respectively) 656 741     472  
Warrant liabilities for Series B-1 and Series D redeemable convertible preferred stock (includes $2,803 and $2,770 to related parties as of March 31, 2026, and December 31, 2025, respectively) $ 3,484 $ 3,378     $ 1,148  
Temporary shares, shares outstanding (in shares) 18,349,937 18,349,937   18,349,937 18,349,937 18,349,937
Redeemable preferred stock, Liquidation preference   $ 288,831        
Ordinary shares, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.00001   $ 0.0001  
Common stock, Shares authorized 32,000,000 32,000,000     32,000,000  
Common stock, Shares issued 5,068,690 5,039,438     5,016,051  
Ordinary shares, outstanding (in shares) 5,068,690 5,039,438     5,016,051  
Treasury stock, Shares 108,466 108,466     108,466  
Series A-1 redeemable convertible preferred stock            
Redeemable preferred stock, Par value $ 0.0001 $ 0.0001     $ 0.0001  
Redeemable preferred stock, Shares authorized 1,234,568 1,234,568     1,234,568  
Redeemable preferred stock, Shares issued 1,234,568 1,234,568     1,234,568  
Temporary shares, shares outstanding (in shares) 1,234,568 1,234,568     1,234,568  
Redeemable preferred stock, Liquidation preference $ 3,000 $ 3,000        
Series A-2 redeemable convertible preferred stock            
Redeemable preferred stock, Par value $ 0.0001 $ 0.0001     $ 0.0001  
Redeemable preferred stock, Shares authorized 2,362,204 2,362,204     2,362,204  
Redeemable preferred stock, Shares issued 2,362,204 2,362,204     2,362,204  
Temporary shares, shares outstanding (in shares) 2,362,204 2,362,204     2,362,204  
Redeemable preferred stock, Liquidation preference $ 6,000 $ 6,000        
Series B-1 redeemable convertible preferred stock            
Redeemable preferred stock, Par value $ 0.0001 $ 0.0001     $ 0.0001  
Redeemable preferred stock, Shares authorized 2,738,469 2,738,469     2,738,469  
Redeemable preferred stock, Shares issued 2,718,539 2,718,539     2,718,539  
Temporary shares, shares outstanding (in shares) 2,718,539 2,718,539     2,718,539  
Redeemable preferred stock, Liquidation preference $ 22,166 $ 22,166        
Series C-1 redeemable convertible preferred stock            
Redeemable preferred stock, Par value $ 0.0001 $ 0.0001     $ 0.0001  
Redeemable preferred stock, Shares authorized 3,570,724 3,570,724     3,570,724  
Redeemable preferred stock, Shares issued 3,570,724 3,570,724     3,570,724  
Temporary shares, shares outstanding (in shares) 3,570,724 3,570,724     3,570,724  
Redeemable preferred stock, Liquidation preference $ 28,423 $ 28,423        
Series C-2 redeemable convertible preferred stock            
Redeemable preferred stock, Par value $ 0.0001 $ 0.0001     $ 0.0001  
Redeemable preferred stock, Shares authorized 2,513,698 2,513,698     2,513,698  
Redeemable preferred stock, Shares issued 2,513,698 2,513,698     2,513,698  
Temporary shares, shares outstanding (in shares) 2,513,698 2,513,698     2,513,698  
Redeemable preferred stock, Liquidation preference $ 26,857 $ 26,857        
Series D redeemable convertible preferred stock            
Redeemable preferred stock, Par value $ 0.0001 $ 0.0001     $ 0.0001  
Redeemable preferred stock, Shares authorized 7,625,734 7,625,734     7,625,734  
Redeemable preferred stock, Shares issued 5,950,204 5,950,204     5,950,204  
Temporary shares, shares outstanding (in shares) 5,950,204 5,950,204     5,950,204  
Redeemable preferred stock, Liquidation preference $ 202,385 $ 202,385        
Related party            
Receivables under collaboration agreements (includes $0 and $1,000 as related party as of March 31, 2026, and December 31, 2025, respectively) 0 1,000     $ 581  
Prepaid expenses and other current assets (includes $910 and $1,110 as related party as of March 31, 2026, and December 31, 2025, respectively) 910 1,110     0  
Accounts payable (includes $30 and $190 as related party, as of March 31, 2026, and December 31, 2025, respectively) 30 190     0  
Warrant liabilities for Series B-1 and Series D redeemable convertible preferred stock (includes $2,803 and $2,770 to related parties as of March 31, 2026, and December 31, 2025, respectively) $ 2,803 $ 2,770     $ 1,471