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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (56,665) $ (34,550)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 13,395 4,934
Non-cash operating lease expense 981 981
Amortization of discount on marketable securities (357) (1,863)
Depreciation expense 309 306
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 446 (720)
Accounts payable (323) (272)
Accrued expenses and other current liabilities (759) (2,201)
Operating lease liabilities (1,087) (1,056)
Net cash used in operating activities (44,060) (34,441)
Cash flows from investing activities:    
Purchases of property and equipment 0 (86)
Purchases of marketable securities (58,358) (228,011)
Maturities of marketable securities 104,647 63,658
Net cash provided by (used in) investing activities 46,289 (164,439)
Cash flows from financing activities:    
Proceeds from initial public offering, net of underwriter discounts, commissions and offering costs paid during the period 0 202,071
Payment of deferred offering costs (550) 0
Exercise of common stock options 3,192 6
Net cash provided by financing activities 2,642 202,077
Net increase in cash, cash equivalents and restricted cash 4,871 3,197
Cash, cash equivalents and restricted cash at beginning of period 59,414 38,750
Cash, cash equivalents and restricted cash at end of period 64,285 41,947
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of convertible preferred stock into common stock upon closing of initial public offering 0 330,368
Offering costs transferred to additional paid in capital 0 4,265
Deferred offering costs in accrued expenses and accounts payable 44 0
Proceeds receivable from stock option exercises 8 0
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 63,322 40,985
Restricted cash 963 962
Total cash, cash equivalents, and restricted cash $ 64,285 $ 41,947