v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash $ 22,217 $ 1,757
Prepaid expenses and other current assets 883 333
Total current assets 23,100 2,090
Property and equipment, net 31 37
Operating lease right-of-use assets 0 81
Other assets 0 6
Deferred transaction costs 0 1,875
Total assets 23,131 4,089
Current liabilities:    
Accounts payable 937 98
Accrued expenses 805 17,383
Operating lease liabilities, current portion 0 38
Total current liabilities 1,742 17,519
Warrant liabilities 2,151 0
Operating lease liabilities 0 12
Simple Agreements for Future Equity 0 46,358
Total liabilities 3,893 63,889
Commitments and contingencies (Note 12)
Stockholders' equity (deficit)    
Common stock: $0.0001 par value; 615,000,000 and 99,997,946 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 70,220,020 and 46,066,754 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 7 5
Additional paid-in-capital 60,673 12,563
Accumulated deficit (41,442) (72,368)
Total stockholders' equity (deficit) 19,238 (59,800)
Total liabilities and stockholders' equity (deficit) $ 23,131 $ 4,089