v3.26.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 96,295 $ 48,906
Prepaid expenses 4,625 353
Other current assets 234 2,853
Total current assets 101,154 52,112
Right-of-use assets 523 666
Other assets 1,175 243
Total assets 102,852 53,021
Current liabilities:    
Accounts payable 1,209 943
Accrued expenses and other current liabilities 7,254 9,143
Debt, current portion 2,500 0
Total current liabilities 10,963 10,086
Lease liabilities, net of current portion 245 419
Debt, net of current portion 4,591 0
Warrant liability 3,323 0
Total liabilities 19,122 10,505
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000,000 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; 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 2,752,810 and 1,372,043 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 0 0
Additional paid-in capital 401,459 331,750
Accumulated deficit (317,729) (289,234)
Total stockholders' equity 83,730 42,516
Total liabilities and stockholders’ equity $ 102,852 $ 53,021