Consolidated Statements of Operations - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Total revenue		$ 0	$ 886	$ 2,329
Operating expenses:
Research and development	[1]	162,790	89,504	58,579
General and administrative		45,776	39,946	28,531
Acquired in-process research and development		0	130,188	0
Gain on sale of in-process research and development asset		0	(16,449)	0
Total operating expenses		208,566	243,189	87,110
Loss from operations		(208,566)	(242,303)	(84,781)
Other income (expense):
Interest income		21,312	6,147	837
Other expense, net		(20,713)	(19,130)	(7)
Total other income (expense)		599	(96,513)	830
Loss before income tax expense		(207,967)	(338,816)	(83,951)
Income tax (expense) benefit		(51)	26	136
Net loss		(208,018)	(338,790)	(83,815)
Series A Non-Voting Convertible Preferred Stock
Other income (expense):
Net loss		$ (47,624)	$ (239,158)	$ 0
Net loss per share, basic (in dollars per share)		$ (127.21)	$ (550.28)	$ 0
Net loss per share, diluted (in dollars per share)		$ (127.21)	$ (550.28)	$ 0
Weighted-average common shares outstanding, basic (in shares)		374,387	434,612	0
Weighted-average common shares outstanding, diluted (in shares)		374,387	434,612	0
Series B Non-Voting Convertible Preferred Stock
Other income (expense):
Net loss		$ (10,839)	$ (4,749)	$ 0
Net loss per share, basic (in dollars per share)		$ (127.21)	$ (550.29)	$ 0
Net loss per share, diluted (in dollars per share)		$ (127.21)	$ (550.29)	$ 0
Weighted-average common shares outstanding, basic (in shares)		85,208	8,630	0
Weighted-average common shares outstanding, diluted (in shares)		85,208	8,630	0
Common Stock
Other income (expense):
Net loss		$ (149,555)	$ (94,883)	$ (83,815)
Net loss per share, basic (in dollars per share)		$ (3.18)	$ (13.76)	$ (24.86)
Net loss per share, diluted (in dollars per share)		$ (3.18)	$ (13.76)	$ (24.86)
Weighted-average common shares outstanding, basic (in shares)		47,027,638	6,897,065	3,371,231
Weighted-average common shares outstanding, diluted (in shares)		47,027,638	6,897,065	3,371,231
Forward Contract Liability
Other income (expense):
Change in fair value of forward contract liability		$ 0	$ (83,530)	$ 0
Development fee and royalty
Revenue:
Total revenue		$ 0	$ 886	$ 2,329

[1] Includes $41.2 million and $48.5 million in related party expenses for the years ended December 31, 2024 and December 31, 2023, respectively, and no related party expenses for the year ended December 31, 2022.