XML 11 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating expenses        
Research and development [1] $ 22,680 $ 15,689 $ 42,252 $ 28,193
General and administrative [2] 6,816 5,111 14,352 9,701
Total operating expenses 29,496 20,800 56,604 37,894
Loss from operations (29,496) (20,800) (56,604) (37,894)
Other income (expense):        
Interest income 2,764 2,679 5,809 4,494
Change in fair value of preferred stock tranche right liability       (7,390)
Total other income, net 2,764 2,679 5,809 (2,896)
Net loss $ (26,732) $ (18,121) $ (50,795) $ (40,790)
Net loss per share attributable to common stockholders, basic $ (0.75) $ (1.7) $ (1.44) $ (6.42)
Net loss per share attributable to common stockholders, diluted $ (0.75) $ (1.7) $ (1.44) $ (6.42)
Weighted-average common shares outstanding, basic 35,444,635 10,666,528 35,356,098 6,356,700
Weighted-average common shares outstanding, diluted 35,444,635 10,666,528 35,356,098 6,356,700
Comprehensive loss:        
Net loss $ (26,732) $ (18,121) $ (50,795) $ (40,790)
Change in unrealized gains (losses) on investments, net of tax 19 (23) 446 (187)
Total other comprehensive income (loss) 19 (23) 446 (187)
Comprehensive loss $ (26,713) $ (18,144) $ (50,349) $ (40,977)
[1] Includes related party amounts of zero for each of the three months ended June 30, 2025 and 2024, and zero and less than $0.1 million for the six months ended June 30, 2025 and 2024, respectively (see Note 10).
[2] Includes related party amounts of zero for each of the three months ended June 30, 2025 and 2024, and zero and $0.1 million for the six months ended June 30, 2025 and 2024, respectively (see Note 10).