XML 42 R20.htm IDEA: XBRL DOCUMENT

Common Stock

12 Months Ended

Dec. 31, 2025

Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]

9. Common Stock

As of December 31, 2025 and 2024, the Company was authorized to issue 500.0 million shares of common stock, par value $0.001 per share.

In October 2024, the Company amended and restated its certificate of incorporation, which was filed immediately prior to the closing of its IPO and among other things, increased the number of shares of common stock authorized for issuance to 500.0 million shares of common stock.

In October 2024, the Company completed its IPO of its common stock. In connection with the Company's IPO, the Company issued and sold 18.4 million shares of its common stock, which included an additional 2.4 million shares of common stock that were issued to the underwriters pursuant to the full exercise of their option to purchase additional shares of common stock, at the public offering price of $18.00 per share. As a result, the Company received $302.8 million in net proceeds, after deducting underwriting discounts and commissions and other offering costs payable by the Company of $28.4 million.

The holders of common stock are entitled to dividends when and if declared by the board of directors. The board of directors has not declared any dividends and the Company has not paid any dividends. The holders of common stock are entitled to one vote per share on all matters to be voted upon by the stockholders.

The Company reserved the following shares of common stock, on an as-converted basis, for future issuance:


	As of December 31,
	2025		2024
Options issued and outstanding		4,378,484		2,938,982
Shares reserved for future grants under 2024 Plan		4,257,640		3,743,915
Shares reserved for 2024 ESPP		251,211		369,402
		8,887,335		7,052,299