Related Party Transactions |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 13. Related Party Transactions March 2026 Private Placement As discussed in Note 7, on March 26, 2026, the Company entered into a securities purchase agreement with entities affiliated with TCGX pursuant to which the Company issued and sold an aggregate of 5,338,078 shares of common stock, at a price per share of $14.05, for net proceeds of $74.9 million after deducting offering expenses. Upon the execution of the March 2026 Private Placement on March 30, 2026, TCGX became a greater than 10% owner of the Company’s common stock and therefore became a principal owner in accordance with ASC 850, Related Party Transactions. Warrant Exercises In the three months ended September 30, 2026, 2,100,000 of the 2025 Warrants were exercised on a cashless basis by RA Capital Healthcare Fund, L.P. (“RA Capital”) in exchange for 2,099,787 shares of common stock. RA Capital was a related party to the Company under ASC 850 due to its beneficial ownership of the Company’s common stock and pre-funded warrants. In addition, during the three months ended September 30, 2026, an entity affiliated with Forbion Growth Opportunities Fund ("Forbion") exercised 2,250,000 of the 2025 Warrants on a cashless basis in exchange for 2,249,809 shares of common stock. Forbion is a related party to the Company under ASC 850 due to its representation on the Company’s board of directors.
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