Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The summary of income tax expense for the year ended December 31, 2025 is as follows (in thousands):

	2025
Current income taxes
Federal	$	—
State	217
Total current income taxes	217
Deferred income taxes
Federal	—
State	—
Total deferred income taxes	—
Total tax expense	$	217
Federal	—
State	217

As previously disclosed for the year ended December 31, 2024, prior to the adoption of ASU 2023-09, the summary of the income tax expense for the year ended December 31, 2024 is as follows:

	2024
Current income taxes
Federal	$	—
State	187
Total current income taxes	187
Deferred income taxes
Federal	—
State	—
Total deferred income taxes	—
Total tax expense	$	187

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of expected income tax (expense) benefit for the year ended December 31, 2025:

	As of December 31, 2025
	Rate		Tax
At U.S. federal statutory rate	21.00	%	(28,924)
State taxes, net of federal effect(1)	(0.12)	%	165
Tax credits
Research and Development credit	2.45	%	(3,377)
Changes in valuation allowances	(22.86)	%	31,487
Nontaxable or nondeductible items
Stock compensation	(0.52)	%	712
Other Nontaxable or nondeductible items	(0.04)	%	59
Other Adjustments
Other items	(0.06)	%	95
Effective income tax rate	(0.15)	%	217

(1) In 2025, state and local income taxes in Massachusetts (98)% comprise the majority of the state and local income taxes category.

As previously disclosed for the year ended December 31, 2024, prior to adoption of ASU 2023-09, the following table presents a reconciliation of expected income tax (expense) benefit for the year ended December 31, 2024:

	As of December 31,
	2024
Income tax computed at federal statutory tax rate	21.0	%
State taxes, net of federal benefit	6.7	%
Change in valuation allowance	(31.3)	%
General business credit carryovers	4.1	%
Permanent differences	(0.5)	%
Other	0.1	%
Total	—	%

Schedule of Deferred Income Tax Assets (Liabilities)

The significant components of the Company's deferred income tax assets (liabilities) are as follows (dollars in thousands):

	As of December 31,
	2025	2024
Deferred tax assets
Net operating losses	52,044	25,269
Tax credit carryforwards	8,283	4,570
Intangibles	1,367	1,528
Startup costs, depreciation and other	20	10
Capitalized R&D (Section 174)	31,983	26,292
Stock compensation	4,077	1,335
Lease liability	529	195
Total gross deferred tax asset	98,303	59,199
Deferred tax liabilities - ROU asset	(522)	(182)
Valuation allowance	(97,781)	(59,017)
Net deferred tax asset	—	—