Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 92,849	$ 31,374	$ 13,903
Marketable securities	0	23,362	51,608
Prepaid expenses and other current assets	4,404	6,517	2,330
Total current assets	97,253	61,253	67,841
Property and equipment, net	0	23	115
Operating lease right-of-use assets	0	175	152
Other assets, noncurrent	810	810	0
Total assets	98,063	62,261	68,108
Current liabilities:
Accounts payable	833	126	278
Accrued expenses	1,465	3,791	4,962
Income tax liabilities	1,269	0
Operating lease liabilities	0	94	154
Deferred revenue	0	212	848
Total current liabilities	3,567	4,223	6,242
Operating lease liabilities, noncurrent	0	82	0
Deferred revenue, noncurrent		0	212
Total liabilities	3,567	4,305	6,454
Commitments and contingencies (Note 7)
Stockholders' equity
Common stock, $0.0001 par value per share; 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025; and 5,306,894 and 5,283,321 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	4	4	4
Preferred stock, $0.0001 par value per share; 50,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued or outstanding as of June 30, 2026 and December 31, 2025	0	0	0
Additional paid-in capital	361,103	359,932	354,602
Accumulated other comprehensive gain	0	18	68
Accumulated deficit	(266,611)	(301,998)	(293,020)
Total stockholders' equity	94,496	57,956	61,654
Total liabilities and stockholders' equity	$ 98,063	$ 62,261	$ 68,108

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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- Definition

Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.