CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net loss	$ (10,939)	$ (16,690)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	71	71
Stock-based compensation expense	1,046	240
Change in fair value of Convertible Notes	(7,810)
Non-cash lease expense	53	44
Accretion of discounts on short-term investments	(166)
Interest accrued on Convertible Notes	651
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(1,564)	1,974
Accounts payable and accrued expenses	919	958
Operating lease liabilities	(75)	(69)
Net cash used in operating activities	(17,814)	(13,472)
Cash flows from investing activities:
Purchases of short-term investments	(31,486)
Maturities of short-term investments	16,402
Net cash used in investing activities	(15,084)
Cash flows from financing activities:
Cash acquired in connection with the Merger	24,992
Payments for Merger transaction costs	(2,821)	(14)
Proceeds from exercise of stock options	531	5
Net cash provided by (used in) financing activities	22,702	(9)
Net decrease in cash and cash equivalents	(10,196)	(13,481)
Cash and cash equivalents - beginning of period	31,614	22,919
Cash and cash equivalents - end of period	21,418	9,438
Non-cash investing and financing activities
Merger transaction costs included in accounts payable		$ 1,069
Conversion of redeemable convertible preferred stock to common stock	85,503
Conversion of Convertible Notes to common stock	$ 23,100