Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023		47,369,000
Beginning balance at Dec. 31, 2023	$ 43,503	$ 5	$ 657,232	$ (613,734)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	6,397		6,397
Exercised (in shares)		1,865,000
Issuance of shares upon exercise of stock options	40,378		40,378
Net income (loss)	(78,710)			(78,710)
Ending balance (in shares) at Mar. 31, 2024		49,234,000
Ending balance at Mar. 31, 2024	11,568	$ 5	704,007	(692,444)
Beginning balance (in shares) at Dec. 31, 2023		47,369,000
Beginning balance at Dec. 31, 2023	43,503	$ 5	657,232	(613,734)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,735,437
Ending balance (in shares) at Sep. 30, 2024		14,476,000
Ending balance at Sep. 30, 2024	178,467	$ 1	236,733	(58,267)
Beginning balance (in shares) at Mar. 31, 2024		49,234,000
Beginning balance at Mar. 31, 2024	11,568	$ 5	704,007	(692,444)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	46,174		46,174
Exercised (in shares)		1,584,000
Issuance of shares upon exercise of stock options	$ 31,300		31,300
Issuance of shares upon exercise of warrants (in shares)	2,746,454	2,746,000
Acquisition of Former Parent’s common stock, stock options, and warrants by the Acquirer (in shares)		(53,564,000)
Acquisition of Former Parent’s common stock, stock options, and warrants by the Acquirer	$ (1,743,729)	$ (5)	(563,754)	(1,179,970)
Issuance of Shares in Distribution (in shares)		14,476,000
Issuance of shares in Distribution	16,042	$ 1	16,041
Net income (loss)	1,858,011			1,858,011
Ending balance (in shares) at Jun. 30, 2024		14,476,000
Ending balance at Jun. 30, 2024	219,366	$ 1	233,768	(14,403)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,965		2,965
Net income (loss)	(43,864)			(43,864)
Ending balance (in shares) at Sep. 30, 2024		14,476,000
Ending balance at Sep. 30, 2024	$ 178,467	$ 1	236,733	(58,267)
Beginning balance (in shares) at Dec. 31, 2024	14,475,904	14,476,000
Beginning balance at Dec. 31, 2024	$ 133,584	$ 1	239,715	(106,132)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,450		2,450
Issuance of warrants in connection with 2025 Loan Agreement	1,720		1,720
Net income (loss)	(43,311)			(43,311)
Ending balance (in shares) at Mar. 31, 2025		14,476,000
Ending balance at Mar. 31, 2025	$ 94,443	$ 1	243,885	(149,443)
Beginning balance (in shares) at Dec. 31, 2024	14,475,904	14,476,000
Beginning balance at Dec. 31, 2024	$ 133,584	$ 1	239,715	(106,132)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of Former Parent’s common stock, stock options, and warrants by the Acquirer			(563,800)	(1,200,000)
Net income (loss)	$ (107,221)
Ending balance (in shares) at Sep. 30, 2025	14,498,093	14,498,000
Ending balance at Sep. 30, 2025	$ 36,830	$ 1	250,182	(213,353)
Beginning balance (in shares) at Mar. 31, 2025		14,476,000
Beginning balance at Mar. 31, 2025	94,443	$ 1	243,885	(149,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,770		2,770
Net income (loss)	(28,654)			(28,654)
Ending balance (in shares) at Jun. 30, 2025		14,476,000
Ending balance at Jun. 30, 2025	68,559	$ 1	246,655	(178,097)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	3,175		3,175
Exercised (in shares)		22,000
Issuance of shares upon exercise of stock options	352		352
Net income (loss)	$ (35,256)			(35,256)
Ending balance (in shares) at Sep. 30, 2025	14,498,093	14,498,000
Ending balance at Sep. 30, 2025	$ 36,830	$ 1	$ 250,182	$ (213,353)