Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 155,098	$ 15,483
Other current assets and prepaid expenses	2,735	7,386
Total current assets	157,833	22,869
Property and equipment, net	771	608
Right-of-use assets	565	575
Total assets	159,169	24,052
Current liabilities:
Accounts payable	12,665	10,138
Accrued expenses	17,852	18,645
Other current liabilities	743	1,835
Total current liabilities	31,260	30,618
Long term liabilities
Operating lease liabilities	328	107
Total long-term liabilities	328	107
Total liabilities	31,588	30,725
Commitments and contingencies (Note 9)
Stockholders’ equity (deficit):
Preferred stock, $0.0001 par value; 20,000,000 shares authorized and no shares issued or outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value; 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025, and 13,644,467 and 12,038,263 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	13	9
Additional paid-in capital	800,054	599,241
Accumulated other comprehensive income	2,772	2,648
Accumulated deficit	(675,258)	(608,571)
Total stockholders’ equity (deficit)	127,581	(6,673)
Total liabilities and stockholders’ equity (deficit)	$ 159,169	$ 24,052

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).