Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities
Net income (loss)	$ (107,221)	$ 1,735,437
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	1,919	1,596
Accretion of debt discount and non-cash interest expense	1,797	2,065
Stock-based compensation expense	8,395	55,536
Non-cash lease expense	1,334	1,427
Loss on disposal of fixed assets	3	12
Non-cash gain on transaction with Acquirer	0	(1,998,809)
Changes in operating assets and liabilities:
Accounts receivable	246	(100)
Other receivables	(686)	423
Receivables from related parties	23	(672)
Prepaid expenses and other current assets	977	377
Other non-current assets	0	(3,548)
Accounts payable	(2,472)	21,022
Accrued expenses	(2,927)	35,883
Operating lease liability	(1,060)	(1,338)
Net cash used in operating activities	(99,672)	(150,689)
Cash flows from investing activities
Purchase of fixed assets	(31)	(2,581)
Proceeds from the sale of property and equipment	3	0
Net cash used in investing activities	(28)	(2,581)
Cash flows from financing activities
Proceeds from the issuance of debt	99,965	0
Payment of fees associated with debt	(125)	0
Proceeds from the exercise of stock options	352	71,678
Net cash provided by financing activities	100,192	71,678
Net increase (decrease) in cash and cash equivalents	492	(81,592)
Cash and cash equivalents at beginning of period	152,596	277,924
Cash and cash equivalents at end of period	153,088	196,332
Supplemental disclosure of cash flow information
Cash paid for interest	6,386	11,506
Cash paid for income taxes	2	2
Supplemental schedule of non-cash investing and financing activities
Fair value of warrants issued to lender in conjunction with 2025 Loan Agreement (as defined in Note 3)	1,720	0
Payable for purchase of fixed assets	$ 0	$ 6