v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 223,143 $ 96,358
Short-term investments 11,043 11,078
Other receivables 678 431
Prepaid expenses and other current assets 1,597 901
Total current assets 236,461 108,768
Other non-current assets 759 492
Property and equipment, net 4,785 2,339
Deferred offering costs 0 2,715
Right-of-use asset 1,428 1,552
Total assets 243,433 115,866
Current liabilities    
Accounts payable 4,155 2,696
Payroll-related accruals 1,723 2,182
Other current liabilities 3,559 3,706
Total current liabilities 9,437 8,584
Lease liability, non-current 1,632 1,582
Total liabilities 11,069 10,166
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $.00001 par value; 0 shares authorized, issued, and outstanding as of June 30, 2026; 116,618,581 shares authorized, 20,341,968 shares issued and outstanding as of December 31, 2025 (aggregate liquidation preference of $0 and $200,878,062 as of June 30, 2026 and December 31, 2025, respectively) 0 204,537
Stockholders' equity (deficit)    
Preferred stock, $.00001 par value; 200,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2026; 0 shares authorized, issued, and outstanding as of December 31, 2025 0 0
Common stock, $.00001 par value; 1,000,000,000 shares authorized, 33,446,315 shares issued and outstanding as of June 30, 2026; 154,383,336 shares authorized; 2,203,620 shares issued and outstanding as of December 31, 2025 0 0
Common stock additional paid-in capital 370,776 5,893
Accumulated deficit (138,412) (104,730)
Total stockholders' equity (deficit) 232,364 (98,837)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ 243,433 $ 115,866