v3.26.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of Fixed Assets

Fixed Assets consisted of the following (in thousands):

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Leasehold improvements

 

$

 

542

 

 

$

 

528

 

Office equipment and furniture

 

 

 

812

 

 

 

 

684

 

Machinery and laboratory equipment

 

 

 

149

 

 

 

 

149

 

Lab and office equipment under finance right-of-use asset

 

 

 

1,695

 

 

 

 

1,157

 

Construction-in-progress

 

 

 

43

 

 

 

 

35

 

 

 

$

 

3,241

 

 

$

 

2,553

 

Less accumulated depreciation and amortization

 

 

 

(1,591

)

 

 

 

(1,559

)

Property and equipment, net

 

$

 

1,650

 

 

$

 

994

 

Summary of Computation of Basic and Diluted Net Loss Per Share

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to common stockholders

$

 

(32,246

)

 

$

 

(13,565

)

 

$

 

(53,920

)

 

$

 

(28,122

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding

 

 

36,136,055

 

 

 

 

1,553,938

 

 

 

 

34,910,516

 

 

 

 

1,552,749

 

Less: weighted-average unvested early-exercised options

 

 

(411

)

 

 

 

(13,243

)

 

 

 

(1,885

)

 

 

 

(14,921

)

Weighted-average shares of common stock outstanding used to compute net loss per share, basic and diluted

 

 

36,135,644

 

 

 

 

1,540,695

 

 

 

 

34,908,631

 

 

 

 

1,537,828

 

Net loss per share, basic and diluted

$

 

(0.89

)

 

$

 

(8.80

)

 

$

 

(1.54

)

 

$

 

(18.29

)

Summary of Outstanding Shares of Potentially Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Attributable to Common Stockholders

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive:

 

 

June 30,

 

 

2026

 

 

 

2025

 

Convertible preferred stock

 

 

 

 

 

 

19,147,595

 

Stock options outstanding

 

 

7,476,614

 

 

 

 

3,726,284

 

Restricted stock units outstanding

 

 

328,318

 

 

 

 

437,754

 

Stock appreciation rights outstanding

 

 

444,992

 

 

 

 

444,992

 

Common stock subject to repurchase

 

 

 

 

 

 

18,979

 

Total

 

 

8,249,924

 

 

 

 

23,775,604