CONDENSED 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 |
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| Operating expenses: | ||||
| Research and development | $ 9,180 | $ 2,533 | $ 27,137 | $ 6,258 |
| General and administrative expenses | 9,205 | 2,673 | 28,918 | 6,222 |
| Acquired in-process research and development | 0 | 0 | 132,957 | 0 |
| Total operating expenses | 18,385 | 5,206 | 189,012 | 12,480 |
| Loss from operations | (18,385) | (5,206) | (189,012) | (12,480) |
| Other income (expense), net: | ||||
| Interest income, net | 2,258 | 311 | 2,650 | 703 |
| Other income (expense), net | 120 | (41) | 119 | (23) |
| Net loss | $ (16,007) | $ (4,936) | $ (186,243) | $ (11,800) |
| Net loss per common share, basic | $ (2.84) | $ (3.91) | $ (53.5) | $ (9.36) |
| Net loss per common share, diluted | $ (2.84) | $ (3.91) | $ (53.5) | $ (9.36) |
| Weighted-average shares outstanding, basic | 5,643,222 | 1,260,867 | 3,481,149 | 1,260,202 |
| Weighted-average shares outstanding, diluted | 5,643,222 | 1,260,867 | 3,481,149 | 1,260,202 |
| Comprehensive loss: | ||||
| Net loss | $ (16,007) | $ (4,936) | $ (186,243) | $ (11,800) |
| Other comprehensive items: | ||||
| Unrealized (loss) gain on marketable securities | (39) | (5) | (64) | 2 |
| Total other comprehensive (loss) income | (39) | (5) | (64) | 2 |
| Total comprehensive loss | $ (16,046) | $ (4,941) | $ (186,307) | $ (11,798) |
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- Definition Acquired in-process research and development. No definition available.
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- Definition Research and development excluding in process expense. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount, after tax and before adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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