v3.26.1
CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) AND CONVERTIBLE PREFERRED STOCK - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2024 $ 257,442 $ 5 $ 394,887 $ (137,505) $ 55
Beginning Balance, Shares at Dec. 31, 2024   33,421,525      
Issuance of common stock upon exercise of stock options 4   4    
Issuance of common stock upon exercise of stock options, Shares   3,019      
Repurchase of restricted stock due to early exercised unvested stock options 19   19    
Repurchase of restricted stock due to early exercised unvested stock options, Shares   (173)      
Stock-based compensation expense 1,839   1,839    
Net loss (23,880)     (23,880)  
Other comprehensive loss (2)       (2)
Ending Balance at Mar. 31, 2025 235,422 $ 5 396,749 (161,385) 53
Ending Balance, Shares at Mar. 31, 2025   33,424,371      
Beginning Balance at Dec. 31, 2024 257,442 $ 5 394,887 (137,505) 55
Beginning Balance, Shares at Dec. 31, 2024   33,421,525      
Net loss (43,291)        
Other comprehensive loss (44)        
Ending Balance at Jun. 30, 2025 219,239 $ 5 400,019 (180,796) 11
Ending Balance, Shares at Jun. 30, 2025   33,592,226      
Beginning Balance at Dec. 31, 2024 257,442 $ 5 394,887 (137,505) 55
Beginning Balance, Shares at Dec. 31, 2024   33,421,525      
Net loss (87,000)        
Ending Balance at Dec. 31, 2025 369,223 $ 6 593,407 (224,476) 286
Ending Balance, Shares at Dec. 31, 2025   44,927,953      
Beginning Balance at Mar. 31, 2025 235,422 $ 5 396,749 (161,385) 53
Beginning Balance, Shares at Mar. 31, 2025   33,424,371      
Issuance of common stock upon exercise of stock options 1,333   1,333    
Issuance of common stock upon exercise of stock options, Shares   167,855      
Stock-based compensation expense 1,937   1,937    
Net loss (19,411)     (19,411)  
Other comprehensive loss (42)       (42)
Ending Balance at Jun. 30, 2025 219,239 $ 5 400,019 (180,796) 11
Ending Balance, Shares at Jun. 30, 2025   33,592,226      
Beginning Balance at Dec. 31, 2025 369,223 $ 6 593,407 (224,476) 286
Beginning Balance, Shares at Dec. 31, 2025   44,927,953      
Issuance of common stock from at-the-market offering, net of issuance costs 85,016   85,016    
Issuance of common stock from at-the-market offering, net of issuance costs, Shares   2,250,986      
Issuance of common stock upon exercise of stock options 2,442   2,442    
Issuance of common stock upon exercise of stock options, Shares   387,775      
Issuance of common stock upon vesting of restricted stock units, Shares   3,750      
Stock-based compensation expense 5,484   5,484    
Net loss (23,517)     (23,517)  
Other comprehensive loss (892)       (892)
Ending Balance at Mar. 31, 2026 437,756 $ 6 686,349 (247,993) (606)
Ending Balance, Shares at Mar. 31, 2026   47,570,464      
Beginning Balance at Dec. 31, 2025 $ 369,223 $ 6 593,407 (224,476) 286
Beginning Balance, Shares at Dec. 31, 2025   44,927,953      
Issuance of common stock upon exercise of stock options, Shares 746,861        
Net loss $ (60,612)        
Other comprehensive loss (1,508)        
Ending Balance at Jun. 30, 2026 409,539 $ 6 695,843 (285,088) (1,222)
Ending Balance, Shares at Jun. 30, 2026   47,949,804      
Beginning Balance at Mar. 31, 2026 437,756 $ 6 686,349 (247,993) (606)
Beginning Balance, Shares at Mar. 31, 2026   47,570,464      
Issuance of common stock upon exercise of stock options 3,176   3,176    
Issuance of common stock upon exercise of stock options, Shares   359,086      
Issuance of common stock upon vesting of restricted stock units, Shares   10,032      
Issuance of common stock upon purchases related to ESPP 254   254    
Issuance of common stock upon purchases related to ESPP, Shares   10,222      
Stock-based compensation expense 6,064   6,064    
Net loss (37,095)     (37,095)  
Other comprehensive loss (616)       (616)
Ending Balance at Jun. 30, 2026 $ 409,539 $ 6 $ 695,843 $ (285,088) $ (1,222)
Ending Balance, Shares at Jun. 30, 2026   47,949,804