Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 93,016	$ 23,719
Prepaid expenses	4,710	713
Other current assets	43
Total current assets	97,769	24,432
Property and equipment, net	101	37
Long-term prepaid expenses	9,388	221
Operating lease right-of-use assets	50
Total assets	107,308	24,690
Current Liabilities
Accounts payable	5,069	538
Accrued expenses	1,094	184
Operating lease liabilities - current	28
Accrued compensation	2,334	25
RSU liability award		1,656
Total current liabilities	8,525	2,403
Operating lease liabilities - non-current	28
Total liabilities	8,553	2,403
Commitments and contingencies (Note 6)
Stockholders' equity (deficit)
Common stock, par value $0.0001 and $0.0001 per share, 300,000,000 shares authorized, 59,745,938 and 51,099,089 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	6	5
Additional paid-in capital	217,829	89,009
Accumulated deficit	(119,080)	(66,727)
Total stockholders' equity	98,755	22,287
Total liabilities and stockholders' equity	$ 107,308	$ 24,690

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).