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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of inventories

​

​	​	​	​	​	​
​	Year Ended December 31,
(in thousands)	2025		​	2024
Inventories:	​	​	​	​	​
Raw materials	$	3,327	​	$	212
Work-in-process	​	27	​	​	—
Finished goods	​	1,110	​	​	—
In-transit	​	690	​	​	—
Total inventories	$	5,154	​	$	212

Schedule of financial assets and liabilities measured at fair value on a recurring basis

​

​	​	​	​	​	​	​	​	​	​	​	​
(in thousands)	Level 1		​ ​ ​	Level 2		​ ​ ​	Level 3		​ ​ ​	Total
December 31, 2025	​	​	​	​	​	​	​	​	​	​	​
Current assets	​	​	​	​	​	​	​	​	​	​	​
Cash equivalents in money market funds (Note 6)	$	15,554	​	$	—	​	$	—	​	$	15,554
U.S. treasury securities (Note 7)	​	169,229	​	​	—	​	​	—	​	​	169,229
Equity securities(1)	​	862	​	​	—	​	​	—	​	​	862
Total current assets at fair value	$	185,645	​	$	—	​	$	—	​	$	185,645
​	​	​	​	​	​	​	​	​	​	​	​
Current Liabilities	​	​	​	​	​	​	​	​	​	​	​
Deferred consideration, current(2)	​	—	​	​	—	​	​	1,093	​	​	1,093
Total current liabilities at fair value	$	—	​	$	—	​	$	1,093	​	$	1,093
​	​	​	​	​	​	​	​	​	​	​	​
Long-term Liabilities	​	​	​	​	​	​	​	​	​	​	​
Sponsor Earn-Out liabilities	$	—	​	$	—	​	$	7,795	​	$	7,795
Deferred consideration, non-current(2)	$	—	​	$	—	​	$	7,677	​	$	7,677
Total long-term liabilities at fair value	$	—	​	$	—	​	$	15,472	​	$	15,472
​	​	​	​	​	​	​	​	​	​	​	​
December 31, 2024	​	​	​	​	​	​	​	​	​	​	​
Current assets	​	​	​	​	​	​	​	​	​	​	​
Cash equivalents in money market funds (Note 6)	$	120,888	​	$	—	​	$	—	​	$	120,888
U.S. treasury securities (Note 7)	​	132,782	​	​	—	​	​	—	​	​	132,782
Equity securities(1)	​	967	​	​	—	​	​	—	​	​	967
Total current assets at fair value	$	254,637	​	$	—	​	$	—	​	$	254,637
​	​	​	​	​	​	​	​	​	​	​	​
Non-current liabilities	​	​	​	​	​	​	​	​	​	​	​
Sponsor Earn-Out liabilities	$	—	​	$	—	​	$	9,472	​	$	9,472
Total non-current liabilities at fair value	$	—	​	$	—	​	$	9,472	​	$	9,472

⁽¹⁾ Fair value was determined using publicly quoted market prices obtained from third-party sources in their respective markets.

⁽²⁾ Fair value was determined using the Black Scholes option pricing formula capped call and capped put methodology using risk adjusted discount rate for the revenue and adjusted revenue forecasts.

Schedule of property and equipment, net

​

​	​	​
Laboratory machinery and equipment		5 – 10 years
Office and computer equipment		3 – 5 years
Furniture and fixtures		5 years
Leasehold improvements		Shorter of useful life of asset or lease term

​

​	​	​	​	​	​	​
​	​	As of December 31,
(in thousands)	​ ​ ​	2025		​ ​ ​	2024
Laboratory machinery and equipment	​	$	33,273	​	$	31,092
Office and computer equipment	​		2,054	​		1,595
Leasehold improvements	​		23,343	​		24,390
Construction in progress	​	​	39	​	​	1,971
Total property and equipment	​		58,709	​		59,048
Less: accumulated depreciation	​		(29,843)	​		(20,883)
Property and equipment, net	​	$	28,866	​	$	38,165

Schedule of estimated useful lives of intangible assets

​

​	​	​
Intellectual property		15 years

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