Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2026	Mar. 31, 2025
Operating expenses:
Research and development	[1]	$ 39,802	$ 20,635
General and administrative	[2]	6,377	2,502
Total operating expenses		46,179	23,137
Loss from operations		(46,179)	(23,137)
Other income, net:
Interest income		3,944	1,809
Income from transition services agreements		223	0
Change in fair value of participation right liability		0	(725)
Other income (expense)		(94)	(2)
Total other income, net		4,073	1,082
Net loss		$ (42,106)	$ (22,055)
Net loss per share attributable to common stockholders, basic		$ (526.11)	$ (54.23)
Net loss per share attributable to common stockholders, diluted		$ (526.11)	$ (54.23)
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic		80,032	406,723
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, diluted		80,032	406,723

[1] Research and development expenses include related party amounts of $142 and $264 for the three months ended March 31, 2026 and 2025, respectively.

[2] General and administrative expenses include related party amounts of $40 and $168 for the three months ended March 31, 2026 and 2025, respectively.