Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity during the year ended December 31, 2024:

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023		1,112,275		$	7.50		6.87	$	10,712
Assumed in reverse recapitalization		32,685		$	7.56
Granted		1,071,073		$	17.27
Exercised		(255,486	)	$	6.81
Cancelled		(17,627	)	$	17.63
Outstanding at December 31, 2024		1,942,920		$	12.93		8.33	$	12,380
Vested and expected to vest at    December 31, 2024		1,942,920		$	12.93		8.33	$	12,380
Exercisable at December 31, 2024		673,356		$	8.43		7.04	$	12,380

Summary of Assumptions Used to Value Stock Options Granted

The underlying assumptions used to value stock options granted using the Black-Scholes option-pricing model during the years ended December 31, 2024 and 2023 were as follows:

	Years Ended December 31,
	2024		2023
Risk-free interest rate range	3.48% - 4.34%		3.59% - 4.67%
Expected dividend rate		—		—
Expected term (years) range	5.17 - 6.11		5.08 - 6.12
Expected stock price volatility range	92.0% - 94.1%		88.9% - 94.0%

Summary of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its statements of operations (in thousands):

	Years Ended December 31,
	2024		2023
Research and development	$	1,105	$	500
General and administrative		3,281		928
Total stock-based compensation expense	$	4,386	$	1,428