CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (47,733)	$ (53,743)
Adjustments to reconcile net income loss to net cash used in operating activities:
Amortization of debt discount and issuance costs	194	87
Amortization of premium on short-term investments	(221)	0
Depreciation expense	487	499
Stock-based compensation expense	4,386	1,428
Non-cash lease expense	579	544
Loss from equity method investment	1,625	0
Loss on impairment of equity investment	675	0
Change in fair value of CVR liability	(2,180)	0
Change in fair value of convertible notes	(15,890)	6,193
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	276	(94)
Other noncurrent assets	386	(4,503)
Accounts payable	(1,043)	2,033
Operating lease liability	(1,542)	(471)
Accrued expenses and other current liabilities	(7,714)	199
Contingent liability	0	55,000
Deferred revenue	0	(25,849)
Net cash used in operating activities	(67,715)	(18,677)
Cash flows from investing activities:
Purchases of property and equipment	(75)	(5)
Maturities of short-term investments	20,000	0
Net cash provided by (used in) investing activities	19,925	(5)
Cash flows from financing activities:
Proceeds from borrowings under loan and security agreement	7,000	5,500
Payments on borrowings under loan and security agreement	0	(5,200)
Proceeds from issuance of common stock in pre-closing financing	42,000	0
Cash acquired in connection with reverse recapitalization	53,158	0
Payment of reverse recapitalization transaction costs	(8,714)	0
Proceeds from exercise of common stock options	1,694	106
Net cash provided by financing activities	95,138	406
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	47,348	(18,276)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	31,264	49,540
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	78,612	31,264
Supplemental disclosure of non-cash operating, investing and financing activities:
Interest payments on venture debt	856	422
Short Term Investments Acquired In reverse recapitalization	19,905	0
Issuance of CVR at fair value	$ 180	$ 0