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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating expenses:        
Research and development $ 23,948 $ 20,012 $ 75,505 $ 62,914
General and administrative 19,421 5,981 36,426 16,987
Total operating expenses 43,369 25,993 111,931 79,901
Loss from operations (43,369) (25,993) (111,931) (79,901)
Other income (expense):        
Interest income 1,093 419 3,139 843
Other income (expense), net (33) (5) (204) 1,186
Total other income 1,060 414 2,935 2,029
Net loss $ (42,309) $ (25,579) $ (108,996) $ (77,872)
Net loss per share, basic (in usd per share) $ (0.99) $ (1.32) $ (2.83) $ (5.45)
Net loss per share, diluted (in usd per share) $ (0.99) $ (1.32) $ (2.83) $ (5.45)
Weighted-average common shares outstanding, basic (in shares) 42,797,370 19,389,776 38,508,964 14,281,149
Weighted-average common shares outstanding, diluted (in shares) 42,797,370 19,389,776 38,508,964 14,281,149