XML 24 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 56,805 $ 70,169
Short-term investments 248,475 77,309
Restricted cash 105 85
Prepaid expenses and other current assets 4,417 3,309
Total current assets 309,802 150,872
Property and equipment, net 3,529 1,916
Operating lease right of use asset, net 1,442 2,084
Other assets 160 551
Total assets 314,933 155,423
Current liabilities    
Accounts payable [1] 1,954 2,502
Accrued expenses and other current liabilities [1] 6,076 5,631
Operating lease liability 737 670
Total current liabilities 8,767 8,803
Series B preferred stock tranche right liability   4,200
Operating lease liability, net of current portion 739 1,476
Total liabilities 9,506 14,479
Commitments and Contingencies
Convertible preferred stock   166,578
Stockholders' equity (deficit)    
Common stock, $0.001 par value; 500,000,000 shares and 250,000,000 shares authorized at December 31, 2024 and 2023, respectively; 36,580,202 shares and 4,170,817 shares issued and outstanding as of December 31, 2024 and 2023, respectively 37 4
Additional paid-in capital 429,657 19,796
Accumulated other comprehensive income (loss) (522) 4
Accumulated deficit (123,745) (45,438)
Total stockholders' equity (deficit) 305,427 (25,634)
Total liabilities, convertible preferred stock, and stockholders' equity (deficit) $ 314,933 155,423
Series A Convertible Preferred Stock    
Current liabilities    
Convertible preferred stock   89,487
Series B Convertible Preferred Stock    
Current liabilities    
Series B preferred stock tranche right liability   4,200
Convertible preferred stock   $ 77,091
[1] Includes related party amounts of zero and $0.2 million (accounts payable) and zero (accrued expenses) as of both December 31, 2024 and 2023, respectively (see Notes 5 and 10).