Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Revenue
License revenue		$ 0	$ 50,000
Operating expenses:
Research and development		38,422	27,603
General and administrative		12,472	6,320
Total operating expenses		50,894	33,923
Income (loss) from operations		(50,894)	16,077
Other income (expense):
Interest income		8,905	4,606
Interest expense		0	(208)
Change in fair value of warrant liability		(106)	5
Change in fair value of investor rights and obligations liability		0	2,867
Other expense, net		(163)	(177)
Total other income, net		8,636	7,093
Income (loss) before income taxes		(42,258)	23,170
Provision for income taxes		0	450
Net income (loss)		(42,258)	22,720
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities		(37)	184
Comprehensive income (loss)		(42,295)	22,904
Net income (loss) attributable to common stockholders, basic		(42,258)	3,146
Net income (loss) attributable to common stockholders, diluted		$ (42,258)	$ 274
Net income (loss) per share, basic (a) (in dollars per share)	[1]	$ (2.18)	$ 1.36
Net income (loss) per share, diluted (a) (in dollars per share)	[1]	$ (2.18)	$ 0.08
Weighted-average common shares outstanding, basic (in shares)		19,352,859	2,308,972
Weighted-average common shares outstanding, diluted (in shares)		19,352,859	3,395,514

[1] Basic and diluted per share amounts are the same for Class A and Class B shares.