v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
USD ($)
Sep. 30, 2026
USD ($)
Cash flows from operating activities:    
Net loss $ (9,724) $ (18,981)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation   4
Stock-based compensation   1,518
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets   (4,656)
Other assets   (2,492)
Accounts payable   82
Accrued expenses   (71,505)
Net cash used in operating activities   (96,030)
Cash flows from financing activities:    
Proceeds from Yarrow Pre-Closing Financing   99,955
Cash acquired in connection with reverse recapitalization   2,899
Proceeds from September 2026 Offering, net of issuance costs   162,147
Net cash provided by financing activities   265,001
Increase in cash and cash equivalents and restricted cash   168,971
Cash and cash equivalents and restricted cash at beginning of the period   99,994
Cash and cash equivalents and restricted cash at end of the period 268,965 268,965
Cash and cash equivalents 268,860 268,860
Restricted cash 105 105
Total cash, cash equivalents and restricted cash $ 268,965 268,965
Supplementary information on investing and financing activities not involving cash flows:    
Deferred offering costs reclassified from other assets to equity   2,899
Prepaid expenses and other current assets and property acquired in connection with reverse recapitalization   406
Accounts payable and accrued expenses assumed in connection with the reverse recapitalization   5,894
Non-cash exchange of Series A convertible preferred stock for common stock and pre-funded warrants   99,850
September offering costs in accounts payable and accrued expenses   $ 493