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CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Thousands
IPO
Common Stock
IPO
Additional Paid-In Capital
IPO
Private Placement
Common Stock
Private Placement
Additional Paid-In Capital
Private Placement
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Series C redeemable convertible preferred stock
Total
Redeemable Convertible Preferred Stock, Beginning balance at Dec. 31, 2023                       $ 375,370
Redeemable Convertible Preferred Stock, Beginning balance (in shares) at Dec. 31, 2023                       85,960,088
Redeemable convertible preferred stock                        
Issuance of redeemable convertible preferred stock for cash, net of derivative liability and offering cost                     $ 120,205  
Issuance of redeemable convertible preferred stock for cash, net of derivative liability and offering cost (in shares)                     41,264,891  
Redeemable Convertible Preferred Stock, Ending balance at Mar. 31, 2024                       $ 495,575
Redeemable Convertible Preferred Stock, Ending balance (in shares) at Mar. 31, 2024                       127,224,979
Beginning balance at Dec. 31, 2023             $ 1 $ 25,055 $ 2 $ (364,318)   $ (339,260)
Beginning balance (in shares) at Dec. 31, 2023             2,675,979          
Stockholders' deficit                        
Issuance of common stock upon vesting of RSUs Vesting of early exercised stock options               29       29
Issuance of common stock upon vesting of RSUs Vesting of early exercised stock options (in shares)             3,186          
Vesting of early exercised stock options               494       494
Vesting of restricted shares of common stock               6       6
Stock-based compensation expense               2,657       2,657
Other comprehensive income (loss), net                 (3)     (3)
Net income (loss)                   (49,849)   (49,849)
Ending balance at Mar. 31, 2024             $ 1 28,241 (1) (414,167)   (385,926)
Ending balance (in shares) at Mar. 31, 2024             2,679,165          
Redeemable Convertible Preferred Stock, Beginning balance at Dec. 31, 2023                       $ 375,370
Redeemable Convertible Preferred Stock, Beginning balance (in shares) at Dec. 31, 2023                       85,960,088
Beginning balance at Dec. 31, 2023             $ 1 25,055 2 (364,318)   $ (339,260)
Beginning balance (in shares) at Dec. 31, 2023             2,675,979          
Stockholders' deficit                        
Net income (loss)                       (199,474)
Ending balance at Sep. 30, 2024             $ 5 912,037 139 (563,792)   348,389
Ending balance (in shares) at Sep. 30, 2024             54,406,788          
Redeemable Convertible Preferred Stock, Beginning balance at Mar. 31, 2024                       $ 495,575
Redeemable Convertible Preferred Stock, Beginning balance (in shares) at Mar. 31, 2024                       127,224,979
Redeemable convertible preferred stock                        
Issuance of redeemable convertible preferred stock for cash, net of derivative liability and offering cost                     $ 143,662  
Issuance of redeemable convertible preferred stock for cash, net of derivative liability and offering cost (in shares)                     41,264,892  
Redeemable Convertible Preferred Stock, Ending balance at Jun. 30, 2024                       $ 639,237
Redeemable Convertible Preferred Stock, Ending balance (in shares) at Jun. 30, 2024                       168,489,871
Beginning balance at Mar. 31, 2024             $ 1 28,241 (1) (414,167)   $ (385,926)
Beginning balance (in shares) at Mar. 31, 2024             2,679,165          
Stockholders' deficit                        
Issuance of common stock upon vesting of RSUs Vesting of early exercised stock options               287       287
Issuance of common stock upon vesting of RSUs Vesting of early exercised stock options (in shares)             62,333          
Vesting of early exercised stock options               253       253
Vesting of restricted shares of common stock               6       6
Stock-based compensation expense               3,133       3,133
Net income (loss)                   (56,508)   (56,508)
Ending balance at Jun. 30, 2024             $ 1 31,920 (1) (470,675)   (438,755)
Ending balance (in shares) at Jun. 30, 2024             2,741,498          
Redeemable convertible preferred stock                        
Conversion and redesignation of redeemable convertible preferred stock into 28,855,656 shares of voting common stock and 7,184,908 shares of non-voting common stock in connection with initial public offering                       $ (639,237)
Conversion and redesignation of redeemable convertible preferred stock into 28,855,656 shares of voting common stock and 7,184,908 shares of non-voting common stock in connection with initial public offering (in shares)                       (168,489,871)
Stockholders' deficit                        
Issuance of voting common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs of $16,684 $ 1 $ 193,315 $ 193,316   $ 40,000 $ 40,000            
Issuance of voting common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs of $16,684 (in shares) 13,125,000     2,500,000                
Conversion and redesignation of redeemable convertible preferred stock into 28,855,656 shares of voting common stock and 7,184,908 shares of non-voting common stock in connection with initial public offering             $ 3 639,234       $ 639,237
Conversion and redesignation of redeemable convertible preferred stock into 28,855,656 shares of voting common stock and 7,184,908 shares of non-voting common stock in connection with initial public offering (in shares)             36,040,564          
Issuance of common stock upon vesting of RSUs Vesting of early exercised stock options               54       54
Issuance of common stock upon vesting of RSUs Vesting of early exercised stock options (in shares)             6,143          
Vesting of early exercised stock options               201       201
Vesting of restricted shares of common stock               4       4
Repurchase of unvested early exercised stock options (in shares)             (6,417)          
Stock-based compensation expense               7,309       7,309
Other comprehensive income (loss), net                 140     140
Net income (loss)                   (93,117)   (93,117)
Ending balance at Sep. 30, 2024             $ 5 912,037 139 (563,792)   348,389
Ending balance (in shares) at Sep. 30, 2024             54,406,788          
Beginning balance at Dec. 31, 2024             $ 5 918,610 40 (658,551)   260,104
Beginning balance (in shares) at Dec. 31, 2024             54,407,327          
Stockholders' deficit                        
Vesting of early exercised stock options               224       224
Vesting of restricted shares of common stock               2       2
Stock-based compensation expense               6,995       6,995
Other comprehensive income (loss), net                 (48)     (48)
Net income (loss)                   (98,963)   (98,963)
Ending balance at Mar. 31, 2025             $ 5 925,831 (8) (757,514)   168,314
Ending balance (in shares) at Mar. 31, 2025             54,407,327          
Beginning balance at Dec. 31, 2024             $ 5 918,610 40 (658,551)   260,104
Beginning balance (in shares) at Dec. 31, 2024             54,407,327          
Stockholders' deficit                        
Net income (loss)                       (150,394)
Ending balance at Sep. 30, 2025             $ 10 1,193,474 234 (808,945)   384,773
Ending balance (in shares) at Sep. 30, 2025             104,359,139          
Beginning balance at Mar. 31, 2025             $ 5 925,831 (8) (757,514)   168,314
Beginning balance (in shares) at Mar. 31, 2025             54,407,327          
Stockholders' deficit                        
Issuance of common stock and equity awards in connection with the ACELYRIN Merger             $ 5 238,072       238,077
Issuance of common stock and equity awards in connection with the ACELYRIN Merger (in shares)             48,653,549          
Issuance of common stock upon vesting of RSUs (in shares)             798,751          
Issuance of common stock under the 2024 ESPP               766       766
Issuance of common stock under the 2024 ESPP (in shares)             184,633          
Vesting of early exercised stock options               184       184
Repurchase of unvested early exercised stock options (in shares)             (1,783)          
Stock-based compensation expense               18,635       18,635
Other comprehensive income (loss), net                 30     30
Net income (loss)                   59,321   59,321
Ending balance at Jun. 30, 2025             $ 10 1,183,488 22 (698,193)   485,327
Ending balance (in shares) at Jun. 30, 2025             104,042,477          
Stockholders' deficit                        
Issuance of common stock upon vesting of RSUs (in shares)             316,662          
Vesting of early exercised stock options               199       199
Stock-based compensation expense               9,787       9,787
Other comprehensive income (loss), net                 212     212
Net income (loss)                   (110,752)   (110,752)
Ending balance at Sep. 30, 2025             $ 10 $ 1,193,474 $ 234 $ (808,945)   $ 384,773
Ending balance (in shares) at Sep. 30, 2025             104,359,139