Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 243,733	$ 176,484
Prepaid expenses and other current assets	3,586	1,234
Total current assets	247,319	177,718
Restricted cash	500	500
Property and equipment, net	2,051	1,872
Operating right-of-use asset	3,858	4,261
Other assets	338	338
Total assets	254,066	184,689
Current liabilities:
Accounts payable	4,021	1,878
Accrued expenses and other current liabilities	8,863	8,862
Term loan, current	3,768	585
Total current liabilities	16,652	11,325
Term loan, non-current	12,419	16,172
Convertible Grant Agreement	2,465	2,227
Lease liability, long-term	3,281	3,823
Total liabilities	34,817	33,547
Commitments and contingencies (Note 11)
Stockholders’ equity:
Common stock (par value $0.0001), 500,000 shares authorized; 35,094 and 31,924 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	3	3
Additional paid-in capital	474,738	352,751
Accumulated deficit	(255,509)	(201,634)
Accumulated other comprehensive loss	17	22
Total stockholders’ equity	219,249	151,142
Total liabilities and stockholders’ equity	$ 254,066	$ 184,689

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).