Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Grant and award revenue	$ 2,510	$ 2,169	$ 3,299	$ 2,660
Operating expenses
Research and development	7,586	6,394	13,697	11,823
General and administrative	5,236	2,619	8,699	5,872
Total operating expenses	12,822	9,013	22,396	17,695
Operating loss	(10,312)	(6,844)	(19,097)	(15,035)
Other income (expense)
Interest income	69	108	129	167
Interest expense	(6,634)	(3,808)	(12,193)	(7,410)
Change in fair value of the Convertible Loan	91,018	(5,751)	(10,044)	(548)
Total other income (expense), net	84,453	(9,451)	(22,108)	(7,791)
Net income (loss)	$ 74,141	$ (16,295)	$ (41,205)	$ (22,826)
Per share information:
Net income (loss) per share, basic	$ 2.02	$ (0.45)	$ (1.12)	$ (0.63)
Weighted average shares outstanding, basic	36,747,840	36,193,479	36,639,663	36,189,165
Net loss per share, diluted	$ (0.27)	$ (0.45)	$ (1.12)	$ (0.63)
Weighted average shares outstanding, diluted	62,041,700	36,193,479	36,639,663	36,189,165
MTEC Grant
Grant and award revenue	$ 2,500	$ 2,200	$ 3,300	$ 2,700