XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.25.3

Net Loss Per Share (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Net Loss per Share [Abstract] |
Schedule of Basic and Diluted Net Loss Per Share Attributable to Stockholders | The following table summarizes the basic and diluted net loss per share attributable to stockholders (in thousands, except share and per share data):
|  | Three Months Ended September 30, 2025 |  |  | Three Months Ended September 30, 2024 |
|  | Loss Allocation |  |  | Weighted Average Shares Outstanding |  |  | Loss Per Share, Basic and Diluted |  |  | Loss Allocation |  |  | Weighted Average Shares Outstanding |  |  | Loss Per Share, Basic and Diluted |
Common Stock |  | $ | (24,042 | ) |  |  | 44,067,059 |  |  | $ | (0.55 | ) |  | $ | (21,936 | ) |  |  | 15,013,655 |  |  | $ | (1.46 | )
Company Series A Preferred Stock(1) |  |  | — |  |  |  | — |  |  | $ | — |  |  |  | (697 | ) |  |  | 477 |  |  | $ | (1,461.10 | )
Company Series B Preferred Stock(2) |  |  | (6,235 | ) |  |  | 137,138 |  |  | $ | (45.46 | ) |  |  | (5,990 | ) |  |  | 49,191 |  |  | $ | (121.76 | )
Net loss |  | $ | (30,277 | ) |  |  |  |  |  |  |  |  |  | $ | (28,623 | ) |  |  |  |  |  |  |  |
(1) | The weighted-average number of shares of as-converted Company Series A Preferred Stock used in the loss allocation was nil and 477,196 for the three months ended September 30, 2025 and September 30, 2024, respectively.
(2) | The weighted-average number of shares of as-converted Company Series B Preferred Stock used in the loss allocation was 11,428,129 and 4,099,227 for the three months ended September 30, 2025 and September 30, 2024, respectively.
|  | Nine Months Ended September 30, 2025 |  |  | Period from February 6, 2024 (inception) to September 30, 2024 |
|  | Loss Allocation |  |  | Weighted Average Shares Outstanding |  |  | Loss Per Share, Basic and Diluted |  |  | Loss Allocation |  |  | Weighted Average Shares Outstanding |  |  | Loss Per Share, Basic and Diluted |
Common Stock |  | $ | (59,813 | ) |  |  | 42,622,935 |  |  | $ | (1.40 | ) |  | $ | (47,192 | ) |  |  | 7,765,381 |  |  | $ | (6.08 | )
Company Series A Preferred Stock(1) |  |  | — |  |  |  | — |  |  | $ | — |  |  |  | (1,121 | ) |  |  | 184 |  |  | $ | (6,077.25 | )
Company Series B Preferred Stock(2) |  |  | (16,037 | ) |  |  | 137,138 |  |  | $ | (116.94 | ) |  |  | (9,630 | ) |  |  | 19,015 |  |  | $ | (506.44 | )
Net loss |  | $ | (75,850 | ) |  |  |  |  |  |  |  |  |  | $ | (57,943 | ) |  |  |  |  |  |  |  |
(1) | The weighted-average number of shares of as-converted Company Series A Preferred Stock used in the loss allocation was nil and 184,462 for the nine months ended September 30, 2025 and the period from February 6, 2024 (inception) to September 30, 2024, respectively.
(2) | The weighted-average number of shares of as-converted Company Series B Preferred Stock used in the loss allocation was 11,428,129 and 1,584,575 for the nine months ended September 30, 2025 and the period from February 6, 2024 (inception) to September 30, 2024, respectively.
Schedule of Anti-Dilutive Effect Excluded from Potential Computation of Diluted Net Loss Per Share | The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to stockholders for the periods presented because including them would have had an anti-dilutive effect were as follows:
|  | 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 |
Outstanding employee warrants to purchase common stock |  | 3,054,358 |  |  | 3,054,358 |  |  | 3,054,358 |  |  | 3,054,358 |
Outstanding unvested restricted stock awards |  |  | 1,355,038 |  |  |  | 2,207,553 |  |  |  | 1,355,038 |  |  |  | 2,207,553 |
Outstanding and issued common stock options |  |  | 3,814,560 |  |  |  | 1,287,760 |  |  |  | 3,814,560 |  |  |  | 1,287,760 |
Outstanding and issued warrant to Paruka |  |  | 596,930 |  |  |  | — |  |  |  | 596,930 |  |  |  | — |
Total |  |  | 8,820,886 |  |  |  | 6,549,671 |  |  |  | 8,820,886 |  |  |  | 6,549,671 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerUnitAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration