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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