XML 133 R82.htm IDEA: XBRL DOCUMENT v3.25.4
License Agreements - Narrative (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 02, 2025
USD ($)
Nov. 05, 2025
USD ($)
Sep. 26, 2025
USD ($)
Apr. 28, 2025
USD ($)
Mar. 18, 2025
USD ($)
Dec. 31, 2025
USD ($)
shares
Oct. 31, 2025
USD ($)
Mar. 31, 2027
USD ($)
Mar. 31, 2026
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
employee
vote
shares
Dec. 31, 2025
USD ($)
shares
Mar. 26, 2026
shares
Asset Acquisition [Line Items]                          
Deferred revenue, current           $ 4,156       $ 0 $ 4,156 $ 4,156  
Research and development [1]                   14,034   138,086  
Prepaid expenses and other current assets           $ 5,463       38 $ 5,463 $ 5,463  
Paragon Option Agreements | Parascent warrant obligation                          
Asset Acquisition [Line Items]                          
Warrants, exercisable (in shares) | shares           402,731         402,731 402,731  
Paragon Option Agreements | Forecast | Parascent warrant obligation                          
Asset Acquisition [Line Items]                          
Warrants, exercisable (in shares) | shares                         34,566
License Agreement Terms | Paragon Option Agreements                          
Asset Acquisition [Line Items]                          
Number of employees overseeing and coordinating the project | employee                     2    
Paragon Therapeutics | Paragon Option Agreements                          
Asset Acquisition [Line Items]                          
Accounts payable and other current liabilities           $ 100         $ 100 $ 100  
Paragon Therapeutics | Paragon Option Agreements | Forecast                          
Asset Acquisition [Line Items]                          
Percent of outstanding shares               1.00% 1.00%        
Paragon Therapeutics | License Agreement Terms | Paragon Option Agreements                          
Asset Acquisition [Line Items]                          
Number of employees overseeing and coordinating the project | employee                     2    
Number of votes | vote                     1    
Termination period                     30 days    
Research and development                   $ 13,124   19,356  
Paragon Therapeutics | License Agreement Terms | CR-001 | Paragon Option Agreements                          
Asset Acquisition [Line Items]                          
Non-refundable milestone payments         $ 22,000                
Milestone payment       $ 2,500                  
Restriction period                     5 years    
Percent reduction to royalty payment due to invalid patent                     30.00%    
Termination period due to breach of contract                     60 days    
Sublicense agreement period                     30 days    
Paragon Therapeutics | License Agreement Terms | CR-002 | Paragon Option Agreements                          
Asset Acquisition [Line Items]                          
Non-refundable milestone payments     $ 46,000                    
Milestone payment   $ 5,000         $ 5,000            
Percent reduction to royalty payment due to invalid patent                     30.00%    
Termination period due to breach of contract                     60 days    
Sublicense agreement period                     30 days    
Kelun-Biotech | License Agreement Terms | CR-001 | Collaborative Arrangement                          
Asset Acquisition [Line Items]                          
Deferred revenue $ 20,000         20,000         $ 20,000 20,000  
Consideration transfer, period 30 days                        
Development milestone payments $ 30,000         30,000              
Contract with customer, liability           15,000         15,000 15,000  
Contract with customer, refund liability           5,000         5,000 5,000  
Deferred revenue, current           4,200         4,200 4,200  
Kelun-Biotech | License Agreement Terms | CR-001 | Collaborative Arrangement | License                          
Asset Acquisition [Line Items]                          
Contract with customer, liability           10,800         10,800 10,800  
Kelun-Biotech | License Agreement Terms | CR-001 | Forecast | Collaborative Arrangement                          
Asset Acquisition [Line Items]                          
Combination study approval payment               $ 5,000          
Kelun-Biotech | License Agreement Terms | SKB105                          
Asset Acquisition [Line Items]                          
Consideration transferred 80,000         80,000              
Payments to acquire productive assets           72,000              
Contingent consideration           8,000              
Development milestone payment 345,000                        
Sale based milestone payment $ 902,500                        
Mid-single digits to low-double digits royalty payment, period 18 months                        
Low-single digits to low-double digits royalty payment, period 24 months                        
Research and development           78,200              
Prepaid expenses and other current assets           $ 1,800         $ 1,800 $ 1,800  
[1] Includes related party amount of $23,653 for the twelve months ended months ended December 31, 2025 and $13,185 for the period from September 19, 2024 (inception) through December 31, 2024.