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Stock-Based Compensation (Tables)
8 Months Ended
Sep. 30, 2024
Stock-Based Compensation [Abstract]  
Schedule of Weighted-Average Assumptions or Range of Assumptions used in Calculating the Fair Value of the Employee Warrants The following table summarizes the weighted-average assumptions used in calculating the fair value of the awards for the three months ended September 30, 2024 and for the period from February 6, 2024 (inception) to September 30, 2024:
   Three
Months Ended
September 30,
2024
   Period from
February 6,
2024
(Inception)
to
September 30,
2024
 
Expected term (in years)   6.1    6.1 
Expected volatility   97.3%   101.0%
Risk-free interest rate   3.5%   4.3%
Expected dividend yield   
%   
%
Schedule of Stock Option Activity The following table summarizes the stock option activities under the 2024 Plan and 2024 Stock Plan for the period of February 6, 2024 (inception) through September 30, 2024:
   Number of
Stock Options
   Weighted
Average
Exercise
Price Per
Share
   Weighted
Average
Remaining
Contractual
Term (in Years)
   Aggregate
Intrinsic
Value (in Thousands)
 
Balance as of February 6, 2024 (inception)   
   $
    
   $
 
Granted   1,287,760   $7.97           
Exercised   
   $
           
Forfeited   
   $
           
Balance as of September 30, 2024   1,287,760   $7.97    9.6   $21,507 
Vested and expected to vest, September 30, 2024   1,287,760   $7.97    9.6   $21,507 
Exercisable, September 30, 2024   
   $
    
   $
 
Schedule of RSAs activity The following table summarizes the RSAs activity for the period from February 6, 2024 (inception) through September 30, 2024:
   Number of
RSAs
   Weighted
Average
Grant Date
Fair Value
 
Unvested balance as of February 6, 2024 (inception)      $      — 
Granted   2,207,553     
Unvested balance as of September 30, 2024   2,207,553   $ 
Schedule of Employee Warrant Activity The following table summarizes the employee warrant activity for the period from February 6, 2024 (inception) through September 30, 2024:
   Number of
Warrants
   Weighted
Average
Exercise
Price Per Share
   Weighted
Average
Remaining
Contractual
Term (in Years)
   Aggregate
Intrinsic
Value (in Thousands)
 
Balance as of February 6, 2024 (inception)   
   $
    
   $
 
Granted   3,054,358   $7.80           
Exercised   
   $
           
Forfeited   
   $
           
Balance as of September 30, 2024   3,054,358   $7.80    9.8   $51,038 
Vested and expected to vest, September 30, 2024   3,054,358   $7.80    9.8   $51,038 
Vested and exercisable, September 30, 2024   
   $
    
   $
 

 

Schedule of Weighted-Average Assumptions Used in Calculating the Fair Value of the Employee Warrants The following table summarizes the weighted-average assumptions used in calculating the fair value of the employee warrants for the three months ended September 30, 2024 and for the period from February 6, 2024 (inception) to September 30, 2024:
   Three Months Ended
September 30,
2024
   Period from
February 6,
2024
(Inception)
to
September 30,
2024
 
Expected term (in years)   6.1    6.1 
Expected volatility   99.0%   99.0%
Risk-free interest rate   4.2%   4.2%
Expected dividend yield   
%   
%
Schedule of Company’s Stock-Based Compensation Expense The following table summarizes the classification of the Company’s stock-based compensation expense in the condensed consolidated statement of operations and comprehensive loss (in thousands):
   Three Months Ended
September 30,
2024
   Period from
February 6,
2024
(Inception)
to
September 30,
2024
 
Research and development  $7,772   $8,310 
General and administrative   1,229    1,459 
Total  $9,001   $9,769 
Schedule of Award Types of Company’s Stock-Based Compensation Expense The following table summarizes the award types of the Company’s stock-based compensation expense in the condensed consolidated statement of operations and comprehensive loss (in thousands):
   Three Months Ended
September 30,
2024
   Period from
February 6,
2024
(Inception)
to
September 30,
2024
 
Paruka warrant obligation  $7,251   $7,681 
Employee warrants   1,314    1,314 
Stock options   427    765 
Employee stock purchase plan   9    9 
Total  $9,001   $9,769