v3.26.3
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]            
Collaboration and other revenue $ 6,500 $ 6,500 $ 2,000 $ 11,000
Operating expenses:            
Research and development expense (includes related party amounts of $300 and $2,150 for the years ended December 31, 2025 and 2024, respectively) 3,342 13,684 7,924 26,039 43,573 63,095
General and administrative expense 2,931 4,963 7,657 10,222 17,732 21,848
Total operating expenses 6,273 18,647 15,581 36,261 61,305 84,943
Loss from operations 227 (18,647) (9,081) (36,261) (59,305) (73,943)
Other income (expense):            
Interest income 16 233 53 633 843 3,369
Gain on warrant liability 220 (297) 2,894 1,583 295 807
Loss on PPAs liability 273 (406)
Other expense (11) (31) (1,034) (9)
Total other income (expense) 225 (64) 3,189 2,216 (302) 4,167
Consolidated net loss and comprehensive loss $ 452 $ (18,711) $ (5,892) $ (34,045) $ (59,607) $ (69,776)
Net income (loss) per common share, basic $ 0.27 $ (15.99) $ (3.73) $ (29.16) $ (50.66) $ (71.83)
Net income (loss) per common share, diluted $ 0.27 $ (15.99) $ (3.73) $ (29.16) $ (50.66) $ (71.83)
Weighted-average shares of common stock outstanding, basic 1,660,586 1,170,087 1,581,554 1,167,550 1,176,558 971,467
Weighted-average shares of common stock outstanding, diluted 1,661,709 1,170,087 1,581,554 1,167,550 1,176,558 971,467