v3.26.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (38,783) $ (21,143)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 191 63
Share-based compensation 2,014 605
Change in fair value of convertible notes payable 4,870 0
Change in fair value of warrant liabilities (205) 263
Fair value adjustment of redeemable convertible preferred stock tranche liability 0 117
Amortization of debt discount and debt issuance costs 149 18
Changes in operating assets and liabilities    
Accounts receivable (1,229) (49)
Inventory (1,493) (1,076)
Other assets (997) 104
Accounts payable 540 285
Accrued liabilities and other 1,545 91
Net cash used in operating activities (33,398) (20,722)
Cash flows from investing activities    
Purchases of property and equipment (1,582) (23)
Net cash used in investing activities (1,582) (23)
Cash flows from financing activities    
Exercise of common stock options 540 222
Proceeds from issuance of common stock in public offering, net 137,501 0
Proceeds from issuance of common stock in warrant exercise 442 0
Proceeds from issuance of convertible notes payable 14,102 0
Proceeds from the related party issuance of convertible notes payable 25,898 0
Proceeds from issuance of Series F redeemable convertible preferred stock, net of issuance costs 0 29,611
Proceeds from the related party issuance of Series F redeemable convertible preferred stock, net of issuance costs 0 2,602
Net cash provided by financing activities 178,483 32,435
Net change in cash and cash equivalents 143,503 11,690
Cash and cash equivalents, beginning of period 33,587 14,620
Cash and cash equivalents, end of period 177,090 26,310
Supplemental disclosures of cash flows information    
Cash paid for interest 462 462
Cash paid for taxes 0 2
Unpaid accrued offering costs $ 3,500 $ 0