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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES    
Net loss $ (98,147) $ (40,951)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net change in fair value of redeemable convertible preferred stock tranche obligations 8,783  
Stock-based compensation expense 3,327 297
Loss on extinguishment of convertible notes 2,316  
Amortization of operating lease right-of-use assets 2,201 1,040
Noncash interest expense 1,604 4,942
Depreciation 1,491 404
Acquired in-process research and development 1,505 1,013
Change in fair value of derivative liabilities (6,453) 1,216
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,590) (1,912)
Other non-current assets (3,608) (267)
Accounts payable 757 2,819
Accrued clinical and research and development expenses 4,673 1,222
Accrued expenses and other current liabilities 3,792 2,175
Operating lease liabilities (1,815) (1,070)
Net cash used in operating activities (81,164) (29,072)
INVESTING ACTIVITIES    
Purchase of property and equipment (8,277) (2,724)
Purchase of in-process research and development (715) (558)
Net cash used in investing activities (8,992) (3,282)
FINANCING ACTIVITIES    
Proceeds from issuance of common stock on initial public offering, net of commissions 296,607  
Proceeds from issuance of redeemable convertible preferred stock and tranche obligations, net of issuance costs 199,918  
Proceeds from issuance of convertible notes, net of issuance costs - related party 2,212 15,948
Proceeds from issuance of convertible notes, net of issuance costs 1,286 12,505
Proceeds from issuance of convertible preferred stock and tranche commitment, net of issuance costs   5,500
Proceeds from issuance of restricted stock awards   232
Proceeds from exercise of stock options 34  
Payment of deferred initial public offering costs (5,474)  
Net cash provided by financing activities 494,583 34,185
Net increase in cash, cash equivalents and restricted cash 404,427 1,831
Cash and cash equivalents at beginning of period 1,872 41
Cash, cash equivalents, and restricted cash at end of period 406,299 1,872
COMPONENTS OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH    
Cash and cash equivalents 405,732 1,872
Restricted cash 567  
Total cash, cash equivalents, and restricted cash 406,299 1,872
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES    
Reclassification of shares of Series Seed redeemable convertible preferred stock to mezzanine equity 9,830  
Conversion of convertible notes to shares of Series A-2 redeemable convertible preferred stock 35,576  
Reclassification of tranche obligation asset to Series A-1 redeemable convertible preferred stock 1,910  
Reclassification of tranche obligation liability to Series A-1 redeemable convertible preferred stock 18,010  
Conversion of redeemable convertible preferred stock into common stock on completion of initial public offering 254,107  
Purchase of property and equipment in accounts payable and accrued expenses and other current liabilities 883 623
In-process research and development costs in accounts payable, accrued expenses and other current liabilities, and other non-current liabilities 1,273 383
Issuance of shares in exchange for in-process research and development   72
Deferred offering costs related to initial public offering included in accounts payable and accrued expenses and other current liabilities $ 105  
Deferred issuance costs for second tranche of Series A-1 redeemable convertible preferred stock in accounts payable and accrued expenses and other current liabilities   $ 74