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CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED AND COMMON STOCK AND STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Series A Convertible Preferred Stock
Series A-1 Convertible Preferred Stock
Series B Convertible Preferred Stock
Class B Convertible Common Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning balance, temporary equity (in shares) at Dec. 31, 2023 [1]   21,977,282 2,950,548 28,019,181 2,744,184        
Beginning balance, temporary equity at Dec. 31, 2023 [1]   $ 44,621 $ 9,893 $ 82,976 $ 5,900        
Convertible Preferred and Common Stock                  
Conversion of convertible preferred stock and Class B convertible common stock to common stock as a result of the Merger and reset to par of $0.00001 (in shares)   (21,977,282) (2,950,548) 28,019,181 (2,744,184)        
Conversion of convertible preferred stock and Class B convertible common stock to common stock as a result of the Merger and reset to par of $0.00001   $ (44,621) $ (9,893) $ 82,976 $ (5,900)        
Ending balance, temporary equity (in shares) at Mar. 31, 2024   0 0 0 0        
Ending balance, temporary equity at Mar. 31, 2024   $ 0 $ 0 $ 0 $ 0        
Beginning balance, common stock (in shares) at Dec. 31, 2023 [1]           1,969,360      
Beginning balance at Dec. 31, 2023 [1] $ (92,712)         $ 10 $ 2,517 $ (95,245) $ 6
Stockholders' Deficit                  
Conversion of convertible preferred stock and Class B convertible common stock to common stock as a result of the Merger and reset to par of $0.00001 (in shares)           11,260,672      
Conversion of convertible preferred stock and Class B convertible common stock to common stock as a result of the Merger and reset to par of $0.00001 143,390         $ (10) 143,400    
Issuance of common stock to Graphite stockholders as a result of the Merger (in shares)           8,320,485      
Issuance of common stock to Graphite stockholders as a result of the Merger 116,145           116,145    
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net (in shares)           3,559,565      
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net 49,840           49,840    
Reclassification of warrant liability to equity 1,918           1,918    
Merger transaction costs (5,146)           (5,146)    
Exercise of stock options and common warrants (in shares)           383,898      
Unrealized gain on marketable securities (7)               (7)
Exercise of stock options 430           430    
Vesting of early exercised stock options (in shares)           6,150      
Vesting of early exercised stock options 10           10    
Share-based compensation 947           947    
Net loss (16,648)             (16,648)  
Ending balance, common stock (in shares) at Mar. 31, 2024           25,500,130      
Ending balance at Mar. 31, 2024 198,167         $ 0 310,061 (111,893) (1)
Beginning balance, temporary equity (in shares) at Dec. 31, 2023 [1]   21,977,282 2,950,548 28,019,181 2,744,184        
Beginning balance, temporary equity at Dec. 31, 2023 [1]   $ 44,621 $ 9,893 $ 82,976 $ 5,900        
Ending balance, temporary equity (in shares) at Sep. 30, 2024   0 0 0 0        
Ending balance, temporary equity at Sep. 30, 2024   $ 0 $ 0 $ 0 $ 0        
Beginning balance, common stock (in shares) at Dec. 31, 2023 [1]           1,969,360      
Beginning balance at Dec. 31, 2023 [1] (92,712)         $ 10 2,517 (95,245) 6
Stockholders' Deficit                  
Unrealized gain on marketable securities 517                
Net loss (37,117)                
Ending balance, common stock (in shares) at Sep. 30, 2024           27,480,634      
Ending balance at Sep. 30, 2024 $ 215,280         $ 0 347,119 (132,362) 523
Beginning balance, temporary equity (in shares) at Mar. 20, 2024   21,977,282 2,950,548            
Stockholders' Deficit                  
Issuance of common stock to Graphite stockholders as a result of the Merger (in shares) 8,320,485                
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net (in shares) 8,670,653                
Merger transaction costs $ (5,200)                
Beginning balance, temporary equity (in shares) at Mar. 31, 2024   0 0 0 0        
Beginning balance, temporary equity at Mar. 31, 2024   $ 0 $ 0 $ 0 $ 0        
Ending balance, temporary equity (in shares) at Jun. 30, 2024   0 0 0 0        
Ending balance, temporary equity at Jun. 30, 2024   $ 0 $ 0 $ 0 $ 0        
Beginning balance, common stock (in shares) at Mar. 31, 2024           25,500,130      
Beginning balance at Mar. 31, 2024 198,167         $ 0 310,061 (111,893) (1)
Stockholders' Deficit                  
Exercise stock options (in shares)           338,260      
Exercise of stock options 3,413           3,413    
Unrealized gain on marketable securities (61)               (61)
Adjustments to reverse recapitalization accounting and issuance of common stock from private placement 31           31    
Vesting of early exercised stock options (in shares)           7,281      
Vesting of early exercised stock options 28           28    
Share-based compensation 1,597           1,597    
Net loss (10,254)             (10,254)  
Ending balance, common stock (in shares) at Jun. 30, 2024           25,845,671      
Ending balance at Jun. 30, 2024 192,921         $ 0 315,130 (122,147) (62)
Ending balance, temporary equity (in shares) at Sep. 30, 2024   0 0 0 0        
Ending balance, temporary equity at Sep. 30, 2024   $ 0 $ 0 $ 0 $ 0        
Stockholders' Deficit                  
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net (in shares)           1,578,947      
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net 29,693           29,693    
Exercise stock options (in shares)           48,736      
Exercise of stock options 57           57    
Unrealized gain on marketable securities 585               585
Adjustments to reverse recapitalization accounting and issuance of common stock from private placement 29           29    
Vesting of early exercised stock options (in shares)           7,280      
Vesting of early exercised stock options 19           19    
Share-based compensation 2,191           2,191    
Net loss (10,215)             (10,215)  
Ending balance, common stock (in shares) at Sep. 30, 2024           27,480,634      
Ending balance at Sep. 30, 2024 $ 215,280         $ 0 347,119 (132,362) 523
Beginning balance, common stock (in shares) at Dec. 31, 2024 27,518,439         27,518,439      
Beginning balance at Dec. 31, 2024 $ 204,084         $ 1 348,901 (145,014) 196
Stockholders' Deficit                  
Exercise stock options (in shares)           11,630      
Exercise of stock options 44           44    
Unrealized gain on marketable securities (73)               (73)
Vesting of early exercised stock options (in shares)           5,594      
Vesting of early exercised stock options 19           19    
Share-based compensation 2,555           2,555    
Net loss (14,619)             (14,619)  
Ending balance, common stock (in shares) at Mar. 31, 2025           27,535,663      
Ending balance at Mar. 31, 2025 $ 192,010         $ 1 351,519 (159,633) 123
Beginning balance, common stock (in shares) at Dec. 31, 2024 27,518,439         27,518,439      
Beginning balance at Dec. 31, 2024 $ 204,084         $ 1 348,901 (145,014) 196
Stockholders' Deficit                  
Unrealized gain on marketable securities 31                
Net loss $ (46,231)                
Ending balance, common stock (in shares) at Sep. 30, 2025 28,588,261         28,588,261      
Ending balance at Sep. 30, 2025 $ 193,927         $ 1 384,944 (191,245) 227
Beginning balance, common stock (in shares) at Mar. 31, 2025           27,535,663      
Beginning balance at Mar. 31, 2025 192,010         $ 1 351,519 (159,633) 123
Stockholders' Deficit                  
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net (in shares)           920,500      
Issuance of common stock at the market offerings, net of issuance costs /from private placement, net 26,067           26,067    
Exercise of stock warrant (in shares)           271      
Issuance of common stock under employee stock purchase plan (in shares)           9,092      
Issuance of common stock under employee stock purchase plan 225           225    
Exercise stock options (in shares)           29,003      
Exercise of stock options 196           196    
Unrealized gain on marketable securities (85)               (85)
Vesting of early exercised stock options (in shares)           5,593      
Vesting of early exercised stock options 19           19    
Share-based compensation 2,845           2,845    
Net loss (14,912)             (14,912)  
Ending balance, common stock (in shares) at Jun. 30, 2025           28,500,122      
Ending balance at Jun. 30, 2025 206,365         $ 1 380,871 (174,545) 38
Stockholders' Deficit                  
Exercise stock options (in shares)           86,275      
Exercise of stock options 598           598    
Unrealized gain on marketable securities 189               189
Vesting of early exercised stock options (in shares)           1,864      
Vesting of early exercised stock options 6           6    
Share-based compensation 3,469           3,469    
Net loss $ (16,700)             (16,700)  
Ending balance, common stock (in shares) at Sep. 30, 2025 28,588,261         28,588,261      
Ending balance at Sep. 30, 2025 $ 193,927         $ 1 $ 384,944 $ (191,245) $ 227
[1] Retroactively recast for the reverse recapitalization as described in Note 3.