XML 53 R34.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 11 Months Ended
--- | ---
Dec. 31, 2024
Income Taxes [Abstract] |
Schedule of Loss Before Income Tax Expense | The following table summarizes the loss before income tax expense by jurisdiction for the periods indicated:
|  | Period from February 6, 2024 (Inception) to December 31, 2024 |
Domestic |  | $ | (83,724 | )
Foreign |  |  | — |
Loss before income tax expense |  | $ | (83,724 | )
Schedule of Statutory Federal Income Tax Rate to Income Before Income Taxes | The difference between the Company’s provision for income taxes and the amounts computed by applying the statutory federal income tax rate to income before income taxes is as follows:
|  | Period from February 6, 2024 (Inception) to December 31, 2024 |
Tax benefit derived by applying the federal statutory rate to income before income taxes |  |  | (21.00 | )%
Permanent differences |  |  | (0.18 | )
Research and development credits |  |  | (3.41 | )
Other |  |  | (0.87 | )
Change in the valuation allowance |  |  | 25.46 |
Income tax (benefit) expense |  |  | 0.00 | %
Schedule of Components of the Deferred Tax Assets and Liabilities | The components of the deferred tax assets and liabilities consist of the following (in thousands):
|  | December 31, 2024 |
Deferred tax assets |  |  |
Net operating loss carryforwards |  | $ | 2,260 |
Research and development credits |  |  | 3,080 |
Stock-based compensation |  |  | 3,063 |
Accruals and other |  |  | 424 |
Lease liability |  |  | 203 |
Intangibles |  |  | 1,477 |
Capitalized R&D expenses |  |  | 10,994 |
Total deferred tax assets |  |  | 21,501 |
Deferred tax liabilities |  |  |  |
Right- of- use asset |  |  | (184 | )
Total deferred tax liabilities |  |  | (184 | )
Less valuation allowance |  |  | (21,317 | )
Deferred tax assets, net |  | $ | — |
Schedule of Net Deferred Tax Assets | he Company has established a full federal and state valuation allowance equal to the net deferred tax assets due to uncertainties regarding the realization of the deferred tax asset based on the Company’s lack of earnings history. The valuation allowance increased by $21.3 million primarily due to continuing loss from operations.
|  | December 31, 2024 |
Beginning balance as of February 6, 2024 |  | $ | — |
Change in valuation allowance |  |  | 21,317 |
Ending balance as of December 31, 2024 |  | $ | 21,317 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):
|  | Period from February 6, 2024 (Inception) to December 31, 2024 |
Beginning balance as of February 6, 2024 |  | $ | — |
Changes related to tax positions taken in the current year |  |  | 1,047 |
Ending balance as of December 31, 2024 |  | $ | 1,047 |

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

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration