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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenue:    
Total revenue $ 1,300 $ 200
Operating expenses:    
Research and development 113,028 203,743
General and administrative 23,297 127,905
Total operating expenses 136,325 331,648
Loss from operations (135,025) (331,448)
Other income (expense):    
Gain related to transaction with Acquirer 0 2,021,498
Interest expense (12,196) (13,491)
Interest income 7,549 10,940
Other income (expense), net (381) 75
Total other income (expense) (5,028) 2,019,022
Income (loss) before provision for income taxes (140,053) 1,687,574
Provision for income taxes 2 2
Net income (loss) $ (140,055) $ 1,687,572
Earnings (loss) per share    
Basic (in dollars per share) $ (9.04) $ 114.01
Diluted (in dollars per share) $ (9.04) $ 112.62
Shares used in computing earnings (loss) per share    
Basic (in shares) 15,487 14,802
Diluted (in shares) 15,487 14,984
License fee revenue    
Revenue:    
Total revenue $ 1,300 $ 200