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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (82,127) $ (49,769)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 287 58
Loss on disposal of property and equipment 0 16
Loss on impairment of operating right-of-use assets and related property and equipment 82 0
Accretion of discounts and amortization of premiums on marketable securities, net (3,409) (4,017)
Loss (gain) on long-term investments, net 197 (1,336)
Change in fair value of preferred stock warrants 0 1,047
Share-based compensation expense 12,547 6,365
Changes in operating assets and liabilities:    
Accounts receivable, net (329) 0
Inventory (4,275) 0
Prepaid expenses and other current assets (3,027) 25
Accounts payable (90) (4,279)
Accrued liabilities 10,975 (7,460)
Other assets (1) (41)
Net cash used in operating activities (69,170) (59,391)
Cash flows from investing activities    
Purchases of marketable securities (280,803) (241,911)
Proceeds from maturities of marketable securities 205,962 87,900
Purchases of property and equipment (827) (468)
Net cash used in investing activities (75,668) (154,479)
Cash flows from financing activities    
Proceeds from exercises of stock options 1,123 4,038
Proceeds from issuance of common stock under employee stock purchase plan 873 0
Cash, cash equivalents, and restricted cash acquired in connection with the Merger 0 117,824
Merger transaction costs 0 (2,373)
Net cash provided by financing activities 149,745 199,002
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,907 (14,868)
Cash, cash equivalents, and restricted cash, beginning of the period 20,272 35,140
Cash, cash equivalents, and restricted cash, end of the period 25,179 20,272
Supplemental cash flow information    
Reclassification of warrant liability to equity 0 1,918
Prepaid expenses and other current assets assumed in the Merger 0 1,313
Accounts payable and accrued liabilities assumed in the Merger 0 2,950
Right-of-use assets assumed in the Merger in exchange for operating lease liabilities 0 74
Right-of-use assets obtained in exchange for operating lease liabilities 0 1,116
Property and equipment included in accounts payable and accrued expenses 0 203
At The Market Offerings    
Cash flows from financing activities    
Proceeds from issuance of common stock, net of issuance costs 147,749 0
PIPE Financing    
Cash flows from financing activities    
Proceeds from issuance of common stock, net of issuance costs 0 79,513
Conversion of Series A, A-1, and B convertible preferred stock to common stock    
Supplemental cash flow information    
Conversion of stock to common stock 0 137,490
Conversion of Class B convertible common stock to common stock    
Supplemental cash flow information    
Conversion of stock to common stock $ 0 $ 5,900