v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
License agreement revenue $ 0 $ 0 $ 1,039 $ 0
Operating expenses        
Research and development [1] 19,391 12,081 37,294 22,708
General and administrative [2] 8,743 8,949 16,608 12,547
Total operating expenses 28,134 21,030 53,902 35,255
Other income 1,770 0 1,770 0
Loss from operations (26,364) (21,030) (51,093) (35,255)
Other income (expense):        
Interest income 1,527 313 2,973 502
Interest expense [3] 0 (1,073) 0 (2,185)
Total other income (expense) 1,527 (760) 2,973 (1,683)
Net loss and comprehensive loss (24,837) (21,790) (48,120) (36,938)
Net loss and comprehensive loss $ (24,837) $ (21,790) $ (48,120) $ (36,938)
Net loss per share attributable to ordinary shareholders, basic (in dollars per share) $ (0.74) $ (4.93) $ (1.44) $ (14.11)
Net loss per share attributable to ordinary shareholders, diluted (in dollars per share) (0.74) (4.93) (1.44) (14.11)
Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic (in dollars per share) (743.25) (4,930.97) (1,442.56) (14,104.9)
Net loss per share attributable to Series A non-voting convertible preferred shareholders, diluted (in dollars per share) $ (743.25) $ (4,930.97) $ (1,442.56) $ (14,104.9)
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic (in shares) 30,532,234 3,856,925 30,465,395 2,331,339
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, diluted (in shares) 30,532,234 3,856,925 30,465,395 2,331,339
Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, basic (in shares) 2,890 565 2,890 286
Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, diluted (in shares) 2,890 565 2,890 286
[1] Includes related party amount of $0 and $2,923 for the three and six months ended June 30, 2026 and $6,292 and $15,069 for the three and six months ended June 30, 2025, respectively.
[2] Includes related party amount of $0 and $0 for the three and six months ended June 30, 2026 and $164 and $630 for the three and six months ended June 30, 2025, respectively.
[3] Includes related party amount of $0 and $0 for the three and six months ended June 30, 2026 and $420 and $865 for the three and six months ended June 30, 2025, respectively.