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Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating expenses:        
Research and development $ 62,203 $ 54,294 $ 125,232 $ 106,999
General and administrative 13,379 10,093 25,283 19,792
Total operating expenses 75,582 64,387 150,515 126,791
Loss from operations (75,582) (64,387) (150,515) (126,791)
Other income:        
Interest income 2,373 5,393 5,325 9,450
Interest expense (314)   (314)  
Other income (expense), net (6) 44 (11) 43
Total other income, net 2,053 5,437 5,000 9,493
Net loss $ (73,529) $ (58,950) $ (145,515) $ (117,298)
Net loss per share attributable to common stockholders, basic $ (0.53) $ (0.43) $ (1.05) $ (0.91)
Net loss per share attributable to common stockholders, diluted $ (0.53) $ (0.43) $ (1.05) $ (0.91)
Weighted average common shares outstanding, basic 114,466,080 99,240,030 114,463,810 97,022,345
Weighted average common shares outstanding, diluted 114,466,080 99,240,030 114,463,810 97,022,345
Comprehensive loss:        
Net loss $ (73,529) $ (58,950) $ (145,515) $ (117,298)
Other comprehensive loss:        
Net unrealized losses on marketable securities (151) (153) (434) (438)
Total other comprehensive loss (151) (153) (434) (438)
Comprehensive loss $ (73,680) $ (59,103) $ (145,949) $ (117,736)
Series A Non-Voting Convertible Preferred Stock [Member]        
Other income:        
Net loss per share attributable to common stockholders, basic $ (132.95) $ (107.98) $ (263.08) $ (228.63)
Net loss per share attributable to common stockholders, diluted $ (132.95) $ (107.98) $ (263.08) $ (228.63)
Weighted average common shares outstanding, basic 67,686 74,465 67,788 74,465
Weighted average common shares outstanding, diluted 67,686 74,465 67,788 74,465
Series B Non Voting Convertible Preferred Stock [Member]        
Other income:        
Net loss per share attributable to common stockholders, basic $ (531.89) $ (431.93) $ (1,052.27) $ (914.46)
Net loss per share attributable to common stockholders, diluted $ (531.89) $ (431.93) $ (1,052.27) $ (914.46)
Weighted average common shares outstanding, basic 6,868 18,621 6,868 12,626
Weighted average common shares outstanding, diluted 6,868 18,621 6,868 12,626