CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Statement [Abstract]
Collaboration arrangement revenue	$ 53,737	$ 0
Operating expenses:
Research and development	19,156	48,143
General and administrative	17,679	17,959
Total operating expenses	36,835	66,102
Income (loss) from operations	16,902	(66,102)
Change in fair value of convertible notes	0	15,890
Gain on sale of asset	11,737	0
Other income (expense), net	1,182	4,125
Total other income (expense), net	12,919	20,015
Income (loss) before provision for income taxes and loss from equity method investment	29,821	(46,087)
Provision for income taxes	0	(21)
Loss from equity method investment	0	(1,625)
Net income (loss)	$ 29,821	$ (47,733)
Net income (loss) per share- basic	$ 2.42	$ (5.12)
Net income (loss) per share- diluted	$ 2.42	$ (6.58)
Weighted-average common shares - basic	12,300,568	9,320,884
Weighted-average common shares - diluted	12,314,796	9,657,696