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Segment Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Disclosures [Abstract] |
Schedule of Segment Loss from Operations | The following table summarizes the segment loss from operations, including significant segment expenses (in thousands):
|  | Three Months Ended September 30, 2025 |  |  | Three Months Ended September 30, 2024 |  |  | Nine Months Ended September 30, 2025 |  |  | Period from February 6, 2024 (inception) to September 30, 2024 |
Research and development personnel-related (excluding stock-based compensation) |  | $ | 3,774 |  |  | $ | 1,304 |  |  | $ | 9,538 |  |  | $ | 2,374 |
General and administrative personnel-related (excluding stock-based compensation) |  |  | 1,945 |  |  |  | 1,206 |  |  |  | 5,356 |  |  |  | 3,131 |
Research and development stock-based compensation |  |  | 8,341 |  |  |  | 7,772 |  |  |  | 14,712 |  |  |  | 8,310 |
General and administrative stock-based compensation |  |  | 1,824 |  |  |  | 1,229 |  |  |  | 5,413 |  |  |  | 1,459 |
External research and development |  |  | 15,581 |  |  |  | 15,908 |  |  |  | 45,607 |  |  |  | 37,926 |
Other research and development |  |  | 1,292 |  |  |  | 707 |  |  |  | 3,143 |  |  |  | 947 |
General and administrative, excluding personnel-related and stock-based compensation |  |  | 1,348 |  |  |  | 1,323 |  |  |  | 3,851 |  |  |  | 3,658 |
Total operating expenses |  | $ | 34,105 |  |  | $ | 29,449 |  |  | $ | 87,620 |  |  | $ | 57,805 |
Loss from operations |  | $ | (34,105 | ) |  | $ | (29,449 | ) |  | $ | (87,620 | ) |  | $ | (57,805 | )

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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