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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net Income (Loss) $ (156,988) $ (37,124)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development   10,000
Depreciation expense 137 113
Net amortization of premiums and accretion of discounts on short-term investments (602)  
Stock-based compensation expense 10,821 3,495
Change in fair value of convertible notes 846 300
Non-cash lease expense 681 726
Prepaid expenses and other assets (7,701) (3,349)
Accounts payable 11,740 (418)
Accrued expenses 22,065 (3,558)
Operating lease liabilities (673) (714)
Net cash used in operating activities (119,674) (30,529)
Cash flows from investing activities:    
Purchase of property and equipment (131) (17)
Purchase of short-term investments (36,421)  
Proceeds from sale and maturities of short-term investments 6,000  
Net cash used in investing activities (30,552) (17)
Cash flows from financing activities:    
Proceeds from issuance of Series C convertible preferred stock, net of issuance costs 178,381  
Proceeds from initial public offering, net of underwriting discount and commissions 240,636  
Payment of initial public offering costs (6,334)  
Proceeds from sale of convertible notes   20,000
Proceeds from exercise of stock options 275 116
Net cash provided by financing activities 412,958 20,116
Effect of exchange rate changes on cash, cash equivalents and restricted cash 157 78
Net increase (decrease) in cash, cash equivalents and restricted cash 262,889 (10,352)
Cash, cash equivalents and restricted cash at beginning of period 56,943 67,295
Cash, cash equivalents and restricted cash at end of period 319,832 56,943
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of BMS Note recognized as Series C Convertible preferred stock upon conversion 21,146  
Conversion of convertible preferred stock to common stock upon closing of initial public offering 449,612  
Right-of-use assets obtained under operating lease arrangements $ 1,100  
Deferred offering costs in accrued expenses   $ 1,388