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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (42,547) $ (25,582)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 176 162
Stock-based compensation 522 312
Amortization of operating lease right-of-use assets 1,049 986
Net amortization of premiums and discounts on marketable securities (1,431) (1,221)
Changes in assets and liabilities:    
Prepaid expenses and other current assets 1,856 (523)
Other assets (61) (479)
Accounts payable 636 272
Accrued liabilities 2,785 (3,038)
Lease liabilities (848) (991)
Income taxes payable, noncurrent 128 0
Net cash used in operating activities (37,735) (30,102)
Cash flows from investing activities:    
Purchases of property and equipment (93) (38)
Purchases of investments in marketable securities (81,544) (100,438)
Proceeds from maturities of marketable securities 74,000 67,000
Net cash used in investing activities (7,637) (33,476)
Cash flows from financing activities:    
Proceeds from issuance of common stock 255 131
Proceeds from sales of Series B redeemable convertible preferred stock 50,000 41,779
Payment of Series B redeemable convertible preferred stock issuance costs (177) (10)
Payment of initial public offering costs (2,928) 0
Net cash provided by financing activities 47,150 41,900
Net increase (decrease) in cash, cash equivalents and restricted cash 1,778 (21,678)
Cash, cash equivalents and restricted cash, beginning of period 15,192 47,469
Cash, cash equivalents and restricted cash, end of period 16,970 25,791
Supplemental disclosure:    
Cash paid for income taxes, net of refunds received 100 1,965
Supplemental disclosure of non-cash transactions:    
Right-of-use assets acquired in exchange for lease obligations 2,944 1,346
Property and equipment included in accounts payable and accrued liabilities 426 0
Unpaid deferred initial public offering costs included in accounts payable and accrued liabilities $ 1,666 $ 0