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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 41,046 $ 35,140
Marketable securities 176,061 30,654
Prepaid expenses and other current assets 3,483 1,450
Restricted cash 114 0
Total current assets 220,704 67,244
Property and equipment, net 372 54
Operating lease right-of-use asset 1,533 318
Deferred offering costs 0 2,739
Other assets 1,398 21
Total assets 224,007 70,376
Current liabilities:    
Accounts payable 2,762 5,711
Accrued liabilities 4,948 12,803
Total current liabilities 7,710 18,514
Operating lease liability, net 953 192
Other noncurrent liabilities 64 121
Preferred stock warrants liability 0 871
Total liabilities 8,727 19,698
Commitments and contingencies (Note 6)
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 143,390
Stockholders' deficit:    
Common stock, par value of $0.00001 per share; 300,000,000 and 16,017,929 shares authorized at September 30, 2024 and December 31, 2023, respectively; 27,500,401 and 2,004,783 shares issued at September 30, 2024 and December 31, 2023, respectively; and 27,480,634 and 1,969,360 shares outstanding at September 30, 2024 and December 31, 2023, respectively [1] 0 10
Additional paid-in capital [1] 347,119 2,517
Accumulated deficit [1] (132,362) (95,245)
Accumulated other comprehensive income [1] 523 6
Total stockholders’ equity (deficit) [2] 215,280 (92,712)
Total liabilities, convertible preferred and common stock and stockholders’ equity (deficit) 224,007 70,376
Series A Convertible Preferred Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 44,621 [2]
Series A-1 Convertible Preferred Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 9,893 [2]
Series B Convertible Preferred Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 82,976
Class B Convertible Common Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock $ 0 $ 5,900 [2]
[1] Retroactively recast for the reverse recapitalization as described in Note 3.
[2] Retroactively recast for the reverse recapitalization as described in Note 3.