In January 2026, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware, which increased the number of authorized shares of Series B redeemable convertible preferred stock from 27,510,762 shares to 43,388,910 shares. Following the amendment, the total number of shares of all classes of stock that the Company was authorized to issue consisted of (i) 89,000,000 shares of common stock, $0.0001 par value per share, and (ii) 68,571,886 shares of preferred stock, $0.0001 par value per share. Immediately prior to the closing of the IPO in October 2026, all 68,571,886 outstanding shares of redeemable convertible preferred stock automatically converted into 17,742,217 shares of common stock (see Note 1).

The Company had 1,501,984 and 1,285,835 shares of common stock outstanding as of September 30, 2026 and December 31, 2025, respectively. The Company had the following shares reserved for issuance as of September 30, 2026 and December 31, 2025:


	September 30, 2026		December 31, 2025
Options issued and outstanding under the 2024 Equity Incentive Plan, as amended (the “2024 Plan”)		2,848,293		2,173,642
Shares reserved for future grants under 2024 Plan		768,560		701,119
Total		3,616,853		2,874,761

Upon the effectiveness of the 2026 Equity Incentive Plan (the “2026 Plan”) in connection with the IPO in October 2026, the shares reserved for future grants under the 2024 Plan ceased to be available for issuance. Awards previously granted under the 2024 Plan were not affected (see Note 14).

In March 2025, the Company issued an aggregate of 13,522,143 shares of Series B redeemable convertible preferred stock at an issuance price of $3.0897 per share for net proceeds of $41.8 million related to the second tranche.

In January 2026, the Company issued an aggregate of 16,182,795 shares of Series B redeemable convertible preferred stock to multiple investors at an issuance price of $3.0897 per share for net proceeds of $49.8 million (the “Series B Extension”).

No dividends have been declared or paid during the three and nine months ended September 30, 2026 and 2025.