Common Stock |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | 9. Common stock As of June 30, 2026, the authorized capital stock of the Company included 800,000,000 shares of common stock, $0.00001 par value with 129,620,370 shares of common stock issued and outstanding. As of December 31, 2025, the authorized capital stock of the Company included 105,384,000 shares of common stock, $0.00001 par value, with 19,048 shares of common stock issued and outstanding. On April 20, 2026, the Company completed its initial public offering in which it issued and sold an aggregate of 44,921,875 shares of its common stock (inclusive of 5,859,375 shares pursuant to the full exercise of the underwriters’ overallotment option) at a public offering price of $16.00 per share for gross proceeds of $718.8 million. The Company received aggregate net proceeds of $662.0 million after deducting commissions, underwriting discounts and other offering costs. As part of the initial public offering, all outstanding shares of convertible preferred stock were converted into 84,596,391 shares of common stock. The certificate of incorporation was also amended and restated which, among other things, adjusted the number of authorized shares to 800,000,000 shares and 10,000,000 shares of common stock and preferred stock, respectively. Each share of common stock entitles the holder to one vote, together with the holders of the preferred stock. Common stockholders are entitled to receive dividends, subject to the preferential dividend rights of the preferred stock. Through June 30, 2026, no cash dividends have been declared or paid. As of June 30, 2026 and December 31, 2025, the Company has reserved the following shares of common stock for future issuance:
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