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Income Tax - Summary of Net Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax asset    
Net operating loss carryforward $ 107,698 $ 29,290
Research and development tax credits 19,379 13,133
Capitalized research and development costs [1] 97,294 49,156
Stock-based compensation 13,172 7,307
Accrued bonus 4,116 1,124
Lease Liability 930 1,035
Other 0 367
Total deferred tax assets 242,589 101,412
Deferred tax liabilities:    
Right of use asset (853) (931)
Other (3,591) 0
Total deferred tax liabilities (4,444) (931)
Valuation allowance (238,145) (100,481)
Net deferred tax assets $ 0 $ 0
[1]

*Capitalized costs deferred tax asset includes research and development capitalized expenditures of $24.8 million under IRC 59(e) and $70.4 million under IRC 174.