Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 55,085	$ 88,438
Investments	256,210	247,720
Prepaid expenses and other current assets	7,222	12,658
Total current assets	318,517	348,816
Property and equipment, net	157	170
Operating lease right-of-use asset	690	726
Other assets	69	69
Total assets	319,433	349,781
Current liabilities:
Accounts payable	3,979	2,151
Accrued expenses and other current liabilities	14,852	9,419
Related party accrued expenses and other current liabilities	794	4,969
Warrant liability, related party	2,667
Total current liabilities	22,292	16,539
Long-term lease liability	679	724
Total liabilities	22,971	17,263
Commitments and contingencies (Note 12)
Stockholders' equity
Common stock, $0.0001 par value; 300,000,000 shares authorized as of March 31, 2026 and December 31, 2025, respectively; 49,345,967 and 49,316,287 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	5	5
Additional paid-in capital	511,554	506,771
Accumulated other comprehensive (loss) income	(342)	129
Accumulated deficit	(214,757)	(174,389)
Total stockholders' equity	296,462	332,518
Total liabilities and stockholders' equity	319,433	349,781
Series A Non-voting Convertible Preferred Stock
Stockholders' equity
Series A non-voting convertible preferred stock, $0.0001 par value; 12,622 shares authorized as of both March 31, 2026 and December 31, 2025, 12,622 shares issued and outstanding as of both March 31, 2026 and December 31, 2025	$ 2	$ 2