v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating expenses:        
Research and development $ 25,920 $ 261,499 $ 43,515 $ 288,200
General and administrative 21,933 12,785 39,498 19,375
Total operating expenses 47,853 274,284 83,013 307,575
Loss from operations (47,853) (274,284) (83,013) (307,575)
Other income (expense):        
Interest income 4,343 537 8,278 1,342
Change in fair value of warrant liabilities (19,300) (1,299,922) (207,657) (1,299,922)
Total other expense, net (14,957) (1,299,385) (199,379) (1,298,580)
Net loss $ (62,810) $ (1,573,669) $ (282,392) $ (1,606,155)
Net loss per share attributable to common stockholders, basic $ (1.16) [1] $ (251.24) [1] $ (5.8) $ (256.88)
Net loss per share attributable to common stockholders, diluted $ (1.16) [1] $ (251.24) [1] $ (5.8) $ (256.88)
Weighted-average common shares outstanding, basic 54,304,456 [1] 6,263,572 [1] 48,689,196 6,252,452
Weighted-average common shares outstanding, diluted 54,304,456 [1] 6,263,572 [1] 48,689,196 6,252,452
Other comprehensive loss:        
Unrealized loss on available for sale marketable securities $ (216) $ (9) $ (963) $ (8)
Total other comprehensive loss: (216) (9) (963) (8)
Comprehensive loss $ (63,026) $ (1,573,678) $ (283,355) $ (1,606,163)
[1] All share and per share amounts have been restated for prior periods on a retroactive basis to reflect a one-for-twenty reverse stock split effected in September 2025. See Note 2 for details.