v3.26.1
Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Preferred Stock
Redeemable Convertible Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Total
Retroactive application of reverse recapitalization
Preferred Stock
Redeemable Convertible Preferred Stock
Retroactive application of reverse recapitalization
Common Stock
Retroactive application of reverse recapitalization
Additional Paid-in Capital
Retroactive application of reverse recapitalization
Accumulated Deficit
Retroactive application of reverse recapitalization
Adjusted
Preferred Stock
Redeemable Convertible Preferred Stock
Adjusted
Common Stock
Adjusted
Additional Paid-in Capital
Adjusted
Accumulated Deficit
Adjusted
Balance at Dec. 31, 2024 $ 104,634 $ 2 $ 3,474 $ (146,892) $ (143,416) $ (1) $ 1 $ 104,634 $ 1 $ 3,475 $ (146,892) $ (143,416)
Balance (in Shares) at Dec. 31, 2024 100,608,468 24,788,845       (50,163,383) 12,359,719       50,445,085 12,429,126      
Net loss (2,391) (2,391)                    
Exercise of stock options 3 3                    
Exercise of stock options (in shares) 4,074                          
Issuance of common stock warrants 121 121                    
Stock-based compensation 183 183                    
Balance at Mar. 31, 2025 $ 104,634 $ 1 3,782 (149,283) (145,500)                    
Balance (in Shares) at Mar. 31, 2025 50,445,085 12,433,200                          
Balance at Dec. 31, 2024 $ 104,634 $ 2 3,474 (146,892) (143,416) $ (1) 1 $ 104,634 $ 1 3,475 (146,892) (143,416)
Balance (in Shares) at Dec. 31, 2024 100,608,468 24,788,845       (50,163,383) 12,359,719       50,445,085 12,429,126      
Net loss         (10,381)                    
Balance at Jun. 30, 2025 $ 104,634 $ 1 3,909 (157,273) (153,363)                    
Balance (in Shares) at Jun. 30, 2025 50,445,085 12,476,860                          
Balance at Mar. 31, 2025 $ 104,634 $ 1 3,782 (149,283) (145,500)                    
Balance (in Shares) at Mar. 31, 2025 50,445,085 12,433,200                          
Net loss (7,990) (7,990)                    
Exercise of stock options 21 21                    
Exercise of stock options (in shares) 43,660                          
Stock-based compensation 106 106                    
Balance at Jun. 30, 2025 $ 104,634 $ 1 3,909 (157,273) (153,363)                    
Balance (in Shares) at Jun. 30, 2025 50,445,085 12,476,860                          
Balance at Dec. 31, 2025 $ 191,199 $ 3 7,709 (186,563) (178,851) $ (1) 1 $ 191,199 $ 2 7,710 (186,563) (178,851)
Balance (in Shares) at Dec. 31, 2025 145,182,811 26,163,296       (72,388,151) 13,045,020       72,794,660 13,118,276      
Net loss (6,941) (6,941)                    
Conversion of SAFEs to Series F redeemable convertible preferred stock $ 6,668                    
Conversion of SAFEs to Series F redeemable convertible preferred stock (in shares) 2,222,913                          
Exercise of stock options 100 100                    
Exercise of stock options (in shares) 320,764                          
Issuance of common stock warrants 2,822 2,822                    
Exercise of common stock warrants 26 26                    
Exercise of common stock warrants (in shares) 1,323,214                          
Stock-based compensation 125 125                    
Balance at Mar. 31, 2026 $ 197,867 $ 2 10,783 (193,504) (182,719)                    
Balance (in Shares) at Mar. 31, 2026 75,017,573 14,762,254                          
Balance at Dec. 31, 2025 $ 191,199 $ 3 7,709 (186,563) (178,851) $ (1) $ 1 $ 191,199 $ 2 $ 7,710 $ (186,563) $ (178,851)
Balance (in Shares) at Dec. 31, 2025 145,182,811 26,163,296       (72,388,151) 13,045,020       72,794,660 13,118,276      
Net loss         (22,240)                    
Balance at Jun. 30, 2026 $ 11 248,140 (208,803) 39,348                    
Balance (in Shares) at Jun. 30, 2026 106,253,742                          
Balance at Mar. 31, 2026 $ 197,867 $ 2 10,783 (193,504) (182,719)                    
Balance (in Shares) at Mar. 31, 2026 75,017,573 14,762,254                          
Net loss (15,299) (15,299)                    
Conversion of Legacy Ionetix redeemable convertible preferred stock into common stock upon the Merger $ (197,867) $ 8 197,859 197,867                    
Conversion of Legacy Ionetix redeemable convertible preferred stock into common stock upon the Merger (in shares) (75,017,573) 75,017,573                          
Issuance of common stock in connection with the Merger and private placement offering $ 1 28,249 28,250                    
Issuance of common stock in connection with the Merger and private placement offering (in shares) 10,777,268                          
Issuance of common stock in connection with the subsequent private placement offering 447 447                    
Issuance of common stock in connection with the subsequent private placement offering (in shares) 185,000                          
Issuance of common stock to JDEV shareholders in connection with the Merger (20) (20)                    
Issuance of common stock to JDEV shareholders in connection with the Merger (in shares) 4,400,000                          
Issuance of common stock in connection with the Termination Agreement 833 833                    
Issuance of common stock in connection with the Termination Agreement (in shares) 277,696                          
Issuance of common stock warrants in settlement of a contingent equity arrangement 9,692 9,692                    
Issuance of placement agent warrants (equity component) 1,520 1,520                    
Issuance costs – placement agent warrants (non-cash) (1,520) (1,520)                    
Conversion of Legacy Ionetix Preferred Stock Warrants into the Company’s Common Stock Warrants upon the Merger 99 99                    
Exercise of stock options 33 33                    
Exercise of stock options (in shares) 126,353                          
Exercise of common stock warrants 14 14                    
Exercise of common stock warrants (in shares) 707,598                          
Stock-based compensation 151 151                    
Balance at Jun. 30, 2026 $ 11 $ 248,140 $ (208,803) $ 39,348                    
Balance (in Shares) at Jun. 30, 2026 106,253,742