v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:      
Net loss   $ (107,938,099) $ (7,011,560)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization     2,721
Accretion of marketable securities   (534,474)  
Stock-based compensation expense   10,983,142 595,447
Changes in fair value of the warrant liability $ (27,553,204) 81,807,426  
Changes in operating assets and liabilities      
Prepaid expenses and other current assets   (3,620,952) 607,280
Accounts payable   771,333 (711,045)
Accrued expenses and other current liabilities   (240,261) 403,059
Net cash used in operating activities   (18,771,885) (6,114,098)
Cash flows from investing activities:      
Purchase of marketable securities   (55,127,329)  
Proceeds from the maturity and redemption of marketable securities   5,000,000  
Net cash used in investing activities   (50,127,329)  
Cash flows from financing activities:      
Proceeds from exercise of Tranche A warrants   11,700,000  
Costs paid in connection with private placements   (195,195)  
Payment of deferred offering costs   (255,318)  
Net cash provided by financing activities   11,249,487  
Net decrease in cash, cash equivalents and restricted cash   (57,649,727) (6,114,098)
Cash, cash equivalents and restricted cash      
Beginning of period   82,401,813 21,462,008
End of period 24,752,086 24,752,086 15,347,910
Reconciliation of the Condensed Consolidated Statements of Cash Flows to the Condensed Consolidated Balance Sheets      
Cash and cash equivalents 24,652,086 24,652,086 15,247,910
Restricted cash 100,000 100,000 100,000
Total cash, cash equivalents and restricted cash $ 24,752,086 24,752,086 $ 15,347,910
Supplemental disclosure of non-cash financing activities      
Deferred offering costs included in accounts payable   231,711  
Reduction of warrant liability upon exercise of warrants   20,581,816  
Issuance of common stock upon conversion of preferred stock   $ 24,402,416