Condensed Consolidated Statements of Operations - 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	[1]	$ 40,145	$ 32,636	$ 81,768	$ 67,564
General and administrative	[2]	11,790	11,511	23,734	24,357
Gain on sale of in-process research and development asset		(10,000)	0	(10,000)	0
Total operating expenses		41,935	44,147	95,502	91,921
Loss from operations		(41,935)	(44,147)	(95,502)	(91,921)
Other income:
Interest income		5,874	5,920	12,367	10,352
Other (expense) income, net		(656)	(610)	1,630	(1,093)
Total other income		5,218	5,310	13,997	9,259
Loss before income tax expense		(36,717)	(38,837)	(81,505)	(82,662)
Income tax benefit (expense)		0	0	15	(32)
Net loss		(36,717)	(38,837)	$ (81,490)	(82,694)
Net loss per share, diluted (in dollars per share)				$ (1.09)
Series A Non Voting Convertible Preferred Stock
Other income:
Net loss		$ (6,791)	$ (8,714)	$ (15,078)	$ (21,089)
Net loss per share, basic (in dollars per share)		$ (19.62)	$ (23.61)	$ (43.57)	$ (52.32)
Net loss per share, diluted (in dollars per share)		$ (19.62)	$ (23.61)	$ (43.57)	$ (52.32)
Weighted-average common stock outstanding, basic (in shares)		346,045	369,043	346,045	403,040
Weighted-average common stock outstanding, diluted (in shares)		346,045	369,043	346,045	403,040
Series B Non Voting Convertible Preferred Stock
Other income:
Net loss		$ (327)	$ (3,370)	$ (726)	$ (8,084)
Net loss per share, basic (in dollars per share)		$ (19.62)	$ (23.61)	$ (43.57)	$ (52.32)
Net loss per share, diluted (in dollars per share)		$ (19.62)	$ (23.61)	$ (43.57)	$ (52.32)
Weighted-average common stock outstanding, basic (in shares)		16,667	142,745	16,667	154,503
Weighted-average common stock outstanding, diluted (in shares)		16,667	142,745	16,667	154,503
Common Stock
Other income:
Net loss		$ (29,599)	$ (26,753)	$ (65,686)	$ (53,521)
Net loss per share, basic (in dollars per share)		$ (0.49)	$ (0.59)	$ (1.09)	$ (1.31)
Net loss per share, diluted (in dollars per share)		$ (0.49)	$ (0.59)	$ (1.09)	$ (1.31)
Weighted-average common stock outstanding, basic (in shares)		60,333,838	45,316,264	60,300,073	40,914,463
Weighted-average common stock outstanding, diluted (in shares)		60,333,838	45,316,264	60,300,073	40,914,463

[1] Includes de minimis and $2.6 million in related party expenses for the three and six months ended June 30, 2025, respectively, and $9.4 million and $26.5 million related party expenses for the three and six months ended June 30, 2024, respectively.

[2] Includes $0.2 million and $0.5 million in related party expenses for both the three and six months ended June 30, 2025 and 2024, respectively.