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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue:        
Total revenue $ 2,066   $ 22,121  
Operating expenses:        
Research and development expenses, including related party expenses of $287, $160, $808 and $731 for the three and nine months ended September 30, 2025 and 2024, respectively 97,836 $ 87,824 303,213 $ 178,350
General and administrative expenses 19,522 10,575 76,267 23,782
Total operating expenses 117,358 98,399 379,480 202,132
Loss from operations (115,292) (98,399) (357,359) (202,132)
Other income (expense):        
Gain on bargain purchase     187,907  
Interest income 4,594 5,322 10,633 8,153
Change in fair value of derivative liability       (5,406)
Other income (expenses), net (54) (40) (136) (89)
Total other income (expense), net 4,540 5,282 198,404 2,658
Net loss before income taxes (110,752) (93,117) (158,955) (199,474)
Income tax benefit 0 0 8,561 0
Net loss (110,752) (93,117) (150,394) (199,474)
Other comprehensive income (loss):        
Unrealized gain (loss) on marketable securities, net 212 140 194 137
Total comprehensive loss $ (110,540) $ (92,977) $ (150,200) $ (199,337)
Net loss per share attributable to common stockholders, basic $ (1.06) $ (1.73) $ (1.92) $ (10.15)
Net loss per share attributable to common stockholders, diluted $ (1.06) $ (1.73) $ (1.92) $ (10.15)
Weighted-average shares of common stock outstanding, basic 104,109,243 53,752,223 78,471,407 19,647,690
Weighted-average shares of common stock outstanding, diluted 104,109,243 53,752,223 78,471,407 19,647,690
License revenue        
Revenue:        
Total revenue     $ 17,389  
Collaboration revenue        
Revenue:        
Total revenue $ 2,066   $ 4,732