v3.26.1
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 $ (58,957) $ (5,970)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation of equipment 11 11
Stock-based compensation 9,278 351
Issuance of common stock in connection with vesting of restricted stock units   29
Amortization of right of use lease asset 68 6
Accretion of lease liability   3
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (274) (155)
Other assets, noncurrent (23) (376)
Accounts payable 3,038 379
Accrued expenses and other current liabilities 6,494 1,051
Operating lease liabilities (67) (10)
Paramora warrant obligation 9,527  
Related party accounts payable and other current liabilities (11,559)  
Other liabilities, noncurrent (1) 5
Net cash used in operating activities (42,465) (4,676)
Cash flows from financing activities    
Issuance of stock in connection with offerings 346,217  
Issuance costs in connection with offerings (21,441)  
Proceeds from exercise of stock options 650  
Net cash provided by financing activities 325,426  
Net increase (decrease) in cash and cash equivalents 282,961 (4,676)
Effect of exchange rate changes on cash and cash equivalents (70) 712
Cash and cash equivalents, beginning of year 257,624 14,175
Cash and cash equivalents, end of year 540,515 10,211
Supplemental disclosures of cash flow information:    
Cash paid for taxes $ 5 $ 5