Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summary of assets and liabilities measured at fair value on recurring basis

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and indicates their respective levels within the fair value hierarchy (in thousands):

		AS OF DECEMBER 31, 2024
	CLASSIFICATION	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
Assets
Money market funds	Cash and cash equivalents	$	31,553	$	31,553	$	—	$	—
Government bonds	Cash and cash equivalents		6,574		—		6,574		—
Commercial paper	Short-term investments		64,855		—		64,855		—
Government and government    agency bonds	Short-term investments		59,458		—		59,458		—
Corporate bonds	Short-term investments		20,880		—		20,880		—
Total assets		$	183,320	$	31,553	$	151,767	$	—

		AS OF DECEMBER 31, 2023
	CLASSIFICATION	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
Assets
Money market funds	Cash and cash equivalents	$	28,517	$	28,517	$	—	$	—
Commercial paper	Short-term investments		2,090		—		2,090		—
Government and government    agency bonds	Short-term investments		19,982		—		19,982		—
Corporate bonds	Short-term investments		1,395		—		1,395		—
Total assets		$	51,984	$	28,517	$	23,467	$	—
Liabilities
SAFEs	Liabilities	$	25,100	$	—	$	—	$	25,100
Total liabilities		$	25,100	$	—	$	—	$	25,100

Summary of significant inputs not observable in the fair value measurements

The following tables summarize the significant inputs not observable in the market upon which the fair value measurements associated with the SAFEs were determined:

	VALUATION TECHNIQUE	UNOBSERVABLE INPUT	AS OF DECEMBER 31, 2023
Liabilities
SAFEs	Scenario-based approach	Probability weighting	15.0% - 70.0%
		Discount rate	20.1%
		Remaining term to event (in years)	0.50 - 0.75

Summary of changes in fair value associated with level 3 financial instruments

The following table summarizes the changes in fair value associated with Level 3 financial instruments held during the year ended December 31, 2024 (in thousands):

	SAFEs
Balance at December 31, 2023	$	25,100
Changes in fair value of SAFEs		3,597
Conversion of SAFEs to common stock		(28,697	)
Balance at December 31, 2024	$	—