Stock Option Plan and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of option activity under the Equity Plans is as follows:

	Outstanding Awards
	Number of Shares Underlying Outstanding Options		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2024		1,144,690	$	0.81		9.23	$	20,160
Options assumed in the Merger		169	$	35.42
Outstanding as of March 31, 2025		1,144,859	$	0.82		8.98	$	44,664
Exercisable as of March 31, 2025		361,037	$	0.76		8.65	$	14,106
Vested and expected to vest as of March 31, 2025		1,144,859	$	0.82		8.98	$	44,664

Summary of Restricted Stock Awards Activity

A summary of restricted stock awards activity under the 2019 Plan is as follows:

	Restricted Stock Awards			Weighted Average Grant Date Fair Value
Unvested as of December 31, 2024		1,839		$	1.71
Vested		(424	)	$	1.71
Unvested as of March 31, 2025		1,415		$	1.71

Schedule of Stock-based Compensation Expense

The following table presents the classification of stock-based compensation expense related to stock-based awards granted (in thousands):

	Three Months Ended March 31,
	2025		2024
Research and development expenses	$	94	$	7
General and administrative expenses	280		24
Total stock-based compensation expense	$	374	$	31

The above stock-based compensation expense was related to the following stock-based awards (in thousands):

	Three Months Ended March 31,
	2025		2024
Restricted stock awards and unvested founders’ shares	$	109	$	22
Stock options	265		9
Total stock-based compensation expense	$	374	$	31