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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue        
Research and collaboration revenue $ 795 $ 0 $ 3,150 $ 0
Operating Expenses:        
Research and development 9,356 9,702 29,845 28,821
General and administrative 4,596 3,814 12,590 10,233
Impairment of right-of-use asset 494 0 494 0
Total operating expenses 14,446 13,516 42,929 39,054
Loss from operations (13,651) (13,516) (39,779) (39,054)
Other (expense) income, net:        
Interest income 423 94 1,464 720
Change in fair value of derivative tranche liability (1,800) 0 (1,800) 0
Other expense (71) (62) (4) (178)
Total other (expense) income, net (1,448) 32 (340) 542
Net loss attributable to common stockholders (15,099) (13,484) (40,119) (38,512)
Comprehensive loss $ (15,099) $ (13,484) $ (40,119) $ (38,512)
Net loss per share attributable to common stockholders, basic, (in dollars per share) $ (0.55) $ (24.19) $ (1.78) $ (76.50)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.55) $ (24.19) $ (1.78) $ (76.50)
Weighted-average shares of common stock outstanding, basic (in shares) 27,274,721 557,437 22,554,427 503,455
Weighted-average common shares outstanding, diluted (in shares) 27,274,721 557,437 22,554,427 503,455