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Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Operating expenses:                
Research and development $ 5,806   $ 6,531   $ 8,917 $ 10,252 $ 23,650 $ 15,866
General and administrative 3,063   650   4,306 1,377 4,457 2,799
Total operating expenses 8,869   7,181   13,223 11,629 28,107 18,665
Loss from operations (8,869)   (7,181)   (13,223) (11,629) (28,107) (18,665)
Interest income 100   200   300 500 747 1,318
Other income (expense), net 12,659       7,159   (2,037)  
Net income (loss) $ 4,167 $ (9,579) $ (6,975) $ (4,202) $ (5,412) $ (11,177) $ (29,397) $ (17,347)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ 0.51   $ (2.71)   $ (1) $ (4.34) $ (1.53) $ (0.91)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (1)   $ (2.71)   $ (2.04) $ (4.34) $ (1.53) $ (0.91)
Weighted-average common shares outstanding, basic (in shares) 8,246,582   2,574,767   5,426,688 2,573,693 19,193,932 19,134,096
Weighted-average common shares outstanding, diluted (in shares) 8,455,223   2,574,767   6,160,967 2,573,693 19,193,932 19,134,096