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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (73,616) $ (32,173)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 268 75
Change in fair value of simple agreements for future equity 27,864 13,717
Accretion of discount on marketable debt securities (520) 0
Stock-based compensation 12,484 777
Change in operating assets and liabilities:    
Prepaid and other current assets (1,520) (126)
Other assets (115) 26
Accounts payable (1,762) 1,344
Accrued expenses and other (1,504) 384
Operating lease right-of-use assets and liabilities 31 (22)
Net cash used in operating activities (38,390) (15,998)
Cash flows from investing activities    
Purchases of property and equipment (352) (83)
Purchases of marketable debt securities (291,620) 0
Proceeds from redemptions of marketable debt securities 116,198 0
Net cash used in investing activities (175,774) (83)
Cash flows from financing activities    
Proceeds from recapitalization 276,210 0
Proceeds from exercise of stock options 1,044 114
Proceeds from right of first refusal liability 25,000 0
Proceeds from simple agreements for future equity 10,232 19,325
Payment of deferred issuance costs (11,058) (3,144)
Net cash provided by financing activities 301,428 16,295
Net increase in cash and cash equivalents 87,264 214
Cash and cash equivalents - beginning of year 9,868 9,654
Cash and cash equivalents - end of year 97,132 9,868
Supplemental disclosures of cash flow information    
Cash paid for interest 0 0
Cash paid for income taxes 907 0
Supplemental noncash investing and financing activities    
Reclassification of deferred issuance costs in connection with business combination 5,510 0
Reclassification of simple agreements for future equity in connection with business combination 84,138 0
Deferred issuance costs included in accounts payable 1,906 443
Deferred issuance costs included in accrued expense and other 0 122
Purchases of computer software in accounts payable and accrued expense and other $ 540 $ 392