CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net loss	$ (49,769)	$ (69,968)	[1]
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	58	15
Loss on disposal of property and equipment	16	0
Accretion of discounts on marketable securities	(4,017)	(1,057)
Change in fair value of preferred stock warrants	1,047	(123)
Share-based compensation expense	6,365	1,343
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	25	761
Accounts payable	(4,279)	856
Accrued liabilities	(7,460)	7,783
Other assets	(1,377)	10
Net cash used in operating activities	(59,391)	(60,380)
Cash flows from investing activities
Purchases of marketable securities	(241,911)	(52,091)
Proceeds from maturities of marketable securities	87,900	22,500
Purchases of property and equipment	(468)	(30)
Net cash used in investing activities	(154,479)	(29,621)
Cash flows from financing activities
Proceeds from issuance of Series B convertible preferred stock, net of issuance costs	0	82,976
Deferred offering costs	0	(2,479)
Proceeds from issuance of common stock, net of issuance costs	79,513	0
Cash, cash equivalents, and restricted cash acquired in connection with the Merger	117,824	0
Merger transaction costs	(2,373)	0
Proceeds from exercises of stock options	4,038	203
Net cash provided by financing activities	199,002	80,700
Net decrease in cash, cash equivalents, and restricted cash	(14,868)	(9,301)
Cash and cash equivalents, beginning of the period	35,140	44,441
Cash, cash equivalents, and restricted cash, end of the period	20,272	35,140
Supplemental cash flow information
Reclassification of warrant liability to equity	1,918	0
Prepaid expenses and other current assets assumed in the Merger	1,313	0
Accounts payable and accrued liabilities assumed in the Merger	2,950	0
Right-of-use assets assumed in the Merger in exchange for operating lease liabilities	74	0
Right-of-use assets obtained in exchange for operating lease liabilities	1,116	190
Property and equipment included in accounts payable and accrued expenses	203	0
Deferred offering costs included in accounts payable and accrued expenses	0	260
Conversion of Series A, A-1, and B convertible preferred stock to common stock
Supplemental cash flow information
Conversion of stock to common stock	137,490	0
Conversion of Class B convertible common stock to common stock
Supplemental cash flow information
Conversion of stock to common stock	$ 5,900	$ 0

[1] Retroactively recast for the reverse recapitalization as described in Note 3.