v3.26.1
Condensed Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 72,334,000 $ 0
Short term investments 191,566,000 0
Prepaid assets 4,506,000 1,535,000
Restricted cash, current portion 311,000 0
Other current assets 6,334,000 1,310,000
Total current assets 275,051,000 2,845,000
Restricted cash, net of current portion 106,000 0
Property and equipment, net 4,066,000 2,724,000
Right-of-use asset 1,289,000 2,784,000
Total assets 280,512,000 8,353,000
Current liabilities:    
Accounts payable 3,513,000 4,398,000
Accrued liabilities 13,312,000 8,945,000
Accrued compensation 3,962,000 3,147,000
Lease liabilities 1,683,000 3,672,000
Deferred revenue, current portion 9,038,000 21,639,000
Total current liabilities 31,508,000 41,801,000
Deferred revenue, net of current portion 33,653,000 28,691,000
Other long-term liabilities 775,000 574,000
Total liabilities 65,936,000 71,066,000
Commitments and contingencies
Stockholders' equity/ Former Parent's deficit:    
Preferred stock, $0.001 par value: 40,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value: 400,000 shares authorized; 17,106 shares issued and outstanding as of June 30, 2026, and no shares authorized, issued, or outstanding as of December 31, 2025 16,000 0
Additional paid-in capital 222,853,000 0
Accumulated deficit (8,058,000) 0
Accumulated other comprehensive loss, net (235,000) 0
Net investment from Former Parent 0 (62,713,000)
Total stockholders' equity / Former Parent's deficit 214,576,000 (62,713,000)
Total liabilities and Stockholders' equity / Former Parent's deficit $ 280,512,000 $ 8,353,000