CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating expenses:
Research and development	[1]	$ 214,712	$ 167,865	$ 68,424
General and administrative		70,883	49,005	24,579
Total operating expenses		285,595	216,870	93,003
Loss from operations		(285,595)	(216,870)	(93,003)
Other income, net:
Interest income, net		30,030	34,742	9,018
Total other income, net		30,030	34,742	9,018
Net loss before taxes		(255,565)	(182,128)	(83,985)
Provision for income taxes		(278)	(18)	0
Net loss after taxes		$ (255,843)	$ (182,146)	$ (83,985)
Net loss per share, basic		$ (4.22)	$ (3.30)	$ (3.36)
Net loss per share, diluted		$ (4.22)	$ (3.30)	$ (3.36)
Weighted-average common shares outstanding, basic		60,690,820	55,193,971	25,005,774
Weighted-average common shares outstanding, diluted		60,690,820	55,193,971	25,005,774

[1] Includes related party amounts of $2,186 for the year ended December 31, 2025, $19,179 for the year ended December 31, 2024 and $26,285 for the year ended December 31, 2023.