v3.26.1
CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
At-the-market sales
Common Stock
Private Placement
Common Stock
Additional Paid-in Capital
At-the-market sales
Additional Paid-in Capital
Private Placement
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss) Income
Accumulated Deficit
At-the-market sales
Private Placement
Total
Balance at the beginning at Dec. 31, 2023     $ 2     $ 439,123 $ (222) $ (324,482)     $ 114,421
Balance at the beginning (in shares) at Dec. 31, 2023     2,325,259                
Increase (Decrease) in Stockholders' Deficit                      
Stock based compensation           6,335         6,335
Exercise of stock options           23         23
Exercise of stock options (in shares)     1,215                
Issuance of shares under ESPP           82         82
Issuance of shares under ESPP (in shares)     5,993                
Issuances of shares from at-the-market sales, net of expenses       $ 39         $ 39    
Issuances of shares from at-the-market sales, net of expenses (in shares) 1,429                    
Unrealized loss on marketable securities, net of tax             226       226
Net loss               (55,654)     (55,654)
Balance at the end at Dec. 31, 2024     $ 2     445,602 4 (380,136)     $ 65,472
Balance at the end (in shares) at Dec. 31, 2024     2,333,896               2,333,896
Increase (Decrease) in Stockholders' Deficit                      
Stock based compensation           1,363         $ 1,363
Unrealized loss on marketable securities, net of tax             (4)       (4)
Net loss               (10,976)     (10,976)
Balance at the end at Mar. 31, 2025     $ 2     446,965   (391,112)     55,855
Balance at the end (in shares) at Mar. 31, 2025     2,333,896                
Balance at the beginning at Dec. 31, 2024     $ 2     445,602 4 (380,136)     $ 65,472
Balance at the beginning (in shares) at Dec. 31, 2024     2,333,896               2,333,896
Increase (Decrease) in Stockholders' Deficit                      
Net loss                     $ (37,784)
Balance at the end at Jun. 30, 2025     $ 2     447,571 (7) (417,920)     29,646
Balance at the end (in shares) at Jun. 30, 2025     2,337,516                
Balance at the beginning at Dec. 31, 2024     $ 2     445,602 4 (380,136)     $ 65,472
Balance at the beginning (in shares) at Dec. 31, 2024     2,333,896               2,333,896
Increase (Decrease) in Stockholders' Deficit                      
Stock based compensation           2,986         $ 2,986
Issuance of shares under ESPP           36         36
Issuance of shares under ESPP (in shares)     7,332                
Issuances of shares from at-the-market sales, net of expenses   $ 2     $ 22,274         $ 22,276  
Issuances of shares from at-the-market sales, net of expenses (in shares)   1,047,064                  
Exercise of pre-funded warrants (in shares)     117,371                
Unrealized loss on marketable securities, net of tax             17       17
Reverse Split (1 for 12) adjustment (in shares)     (42)                
Net loss               (55,844)     (55,844)
Balance at the end at Dec. 31, 2025     $ 4     470,898 21 (435,980)     $ 34,943
Balance at the end (in shares) at Dec. 31, 2025     3,505,621               3,505,621
Balance at the beginning at Mar. 31, 2025     $ 2     446,965   (391,112)     $ 55,855
Balance at the beginning (in shares) at Mar. 31, 2025     2,333,896                
Increase (Decrease) in Stockholders' Deficit                      
Stock based compensation           587         587
Issuance of shares under ESPP           19         19
Issuance of shares under ESPP (in shares)     3,620                
Unrealized loss on marketable securities, net of tax             (7)       (7)
Net loss               (26,808)     (26,808)
Balance at the end at Jun. 30, 2025     $ 2     447,571 (7) (417,920)     29,646
Balance at the end (in shares) at Jun. 30, 2025     2,337,516                
Balance at the beginning at Dec. 31, 2025     $ 4     470,898 21 (435,980)     $ 34,943
Balance at the beginning (in shares) at Dec. 31, 2025     3,505,621               3,505,621
Increase (Decrease) in Stockholders' Deficit                      
Stock based compensation           344         $ 344
Exercise of stock options           14         14
Exercise of stock options (in shares)     2,488                
Issuances of shares from at-the-market sales, net of expenses           1,234         1,234
Issuances of shares from at-the-market sales, net of expenses (in shares)     99,446                
Unrealized loss on marketable securities, net of tax             (23)       (23)
Net loss               (9,796)     (9,796)
Balance at the end at Mar. 31, 2026     $ 4     472,490 (2) (445,776)     26,716
Balance at the end (in shares) at Mar. 31, 2026     3,607,555                
Balance at the beginning at Dec. 31, 2025     $ 4     470,898 21 (435,980)     $ 34,943
Balance at the beginning (in shares) at Dec. 31, 2025     3,505,621               3,505,621
Increase (Decrease) in Stockholders' Deficit                      
Exercise of stock options (in shares)                     2,488
Net loss                     $ (24,688)
Balance at the end at Jun. 30, 2026     $ 4     472,816 (3) (460,668)     $ 12,149
Balance at the end (in shares) at Jun. 30, 2026     4,068,951               4,068,951
Balance at the beginning at Mar. 31, 2026     $ 4     472,490 (2) (445,776)     $ 26,716
Balance at the beginning (in shares) at Mar. 31, 2026     3,607,555                
Increase (Decrease) in Stockholders' Deficit                      
Stock based compensation           304         304
Issuance of shares under ESPP           22         22
Issuance of shares under ESPP (in shares)     4,541                
Exercise of pre-funded warrants (in shares)     456,855                
Unrealized loss on marketable securities, net of tax             (1)       (1)
Net loss               (14,892)     (14,892)
Balance at the end at Jun. 30, 2026     $ 4     $ 472,816 $ (3) $ (460,668)     $ 12,149
Balance at the end (in shares) at Jun. 30, 2026     4,068,951               4,068,951