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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (58,327) $ (21,267)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 579 59
Net (accretion) and amortization of investments in marketable securities (3,771)  
Change in fair value of preferred stock tranche right liability 7,390 1,030
Non-cash lease expense 477 52
Stock-based compensation expense 7,027 2,527
Series A and B preferred stock issuance costs allocated to tranche right liabilities   67
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,842) (1,315)
Other assets 51 (125)
Accounts payable (994) 131
Accrued expenses and other current liabilities (477) 2,003
Operating lease liabilities (495) 14
Net cash used in operating activities (50,382) (16,824)
Cash flows from investing activities    
Purchases of short-term investments (292,973)  
Maturities of short-term investments 93,081  
Purchases of property and equipment (2,179) (199)
Net cash used in investing activities (202,071) (199)
Cash flows from financing activities    
Proceeds from initial public offering and concurrent private placement, net of underwriter discounts and commissions and deferred offering costs 157,705  
Proceeds from issuance restricted common stock   54
Repurchase of unvested restricted common stock   (4)
Net cash provided by financing activities 221,618 145,276
Net (decrease) increase in cash, cash equivalents, and restricted cash (30,835) 128,253
Cash, cash equivalents, and restricted cash at beginning of period 70,254 31,159
Cash, cash equivalents, and restricted cash at end of period 39,419 159,412
Supplemental disclosure for noncash investing and financing activities:    
Deferred offering costs included in accounts payable and accrued expenses at period end   (6)
Purchases of property and equipment included in accounts payable and accrued expenses at period end 17 208
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 39,314 159,412
Restricted cash 105  
Total cash, cash equivalents and restricted cash shown in the statement of cash flows 39,419 159,412
Series A Convertible Preferred Stock    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs paid   59,920
Supplemental disclosure for noncash investing and financing activities:    
Conversion of convertible preferred stock into common stock upon closing of initial public offering 89,487  
Series B Convertible Preferred Stock    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock, net of issuance costs paid 63,913 85,306
Supplemental disclosure for noncash investing and financing activities:    
Conversion of convertible preferred stock into common stock upon closing of initial public offering 145,252  
Series A Preferred Stock    
Supplemental disclosure for noncash investing and financing activities:    
Settlement of preferred stock tranche right liability   11,465
Series B Preferred Stock    
Supplemental disclosure for noncash investing and financing activities:    
Settlement of preferred stock tranche right liability $ 11,590 $ 581