Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of segment loss, including significant segment expenses

The table below is a summary of the segment loss, including significant segment expenses (in thousands):

	Twelve Months Ended December 31, 2025		Period from September 19, 2024 (Inception) Through December 31, 2024
License revenue	$	10,844	$	—
Less:
CR-001 external research and development costs	25,547		6,610
CR-002 external research and development costs	8,636		751
Discovery external research and development costs(1)	1,952		—
Personnel costs	31,022		1,214
Milestone and license fees(2)	84,710		6,400
Professional and other fees(3)	11,609		2,216
Other expense (income)	(690)		676
Provision for income taxes	2,000		—
Net loss and comprehensive loss	$	(153,942)	$	(17,867)

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(1)Discovery external research and discovery costs include costs associated with candidate discovery activities.

(2)Milestone and license fees for the twelve months ended December 31, 2025 includes the license fee for CR-003 related to the SKB105 License Agreement.

(3)Profession and other fees includes professional fees, consulting fees, office and facilities expense, and miscellaneous other expense.