XML 38 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (98,333) $ (66,394)
Adjustments to reconcile net loss to net cash used in operating activities:    
Reduction in the carrying amount of ROU assets, operating 1,373 1,266
Reduction in the carrying amount of ROU assets, finance 325 306
Stock based compensation expense 12,474 3,043
Depreciation and amortization expense 304 271
Change in fair value of convertible SAFE Note liability   530
Accretion of discount on investments (23)  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,690) 990
Accounts payable 2,378 (180)
Accrued expenses and other current liabilities 3,367 2,091
Lease liabilities, operating (1,336) (1,414)
Lease liabilities, finance 10 (5)
Net cash used in operating activities (81,151) (59,496)
Cash flows from investing activities:    
Purchase of internal use software 0 (50)
Purchase of property and equipment (481) (115)
Purchases of investments (93,596)  
Net cash used in investing activities (94,077) (165)
Cash flows from financing activities:    
Proceeds from exercise of stock options 491 51
Payments on finance leases (410) (425)
Treasury stock repurchases (17)  
Payments of issuance costs on convertible SAFE Note   (86)
Proceeds from issuance of convertible SAFE Note   4,000
Proceeds from issuance of common stock upon private placement offering, net of commissions and offering costs 88,712  
Proceeds from issuance of common stock upon initial public offering, net of underwriters' discounts, commissions and other offering costs   100,251
Net cash provided by financing activities 88,776 103,791
Net change in cash, cash equivalents and restricted cash (86,452) 44,130
Cash, cash equivalents and restricted cash at beginning of period 124,718 80,588
Cash, cash equivalents and restricted cash at end of period 38,266 124,718
Supplemental disclosures of cash flow information    
Interest paid 127 176
Supplemental disclosure of non-cash activities    
Deferred offering costs included in accounts payable and accrued expenses   1,105
Unrealized loss on investments (103)  
Reclassification of internal use software into prepaid expenses 98  
Issuance costs related to convertible debt included in accounts payable and accrued expenses   50
(Property and equipment purchased in the prior period and paid in the current period), net of property and equipment purchased in the current period included in accounts payable (120) 141
Finance lease right-of use assets and finance lease liabilities recognized 22  
Conversion of convertible preferred stock into common stock in connection with initial public offering, net of issuance costs   185,032
Conversion of SAFE Note into common stock in connection with initial public offering, net of issuance costs   4,417
Amounts reclassified from deposit liabilities upon the vesting of early-exercised stock options previously subject to repurchase, net of proceeds received from early exercise of unvested stock options subject to repurchase and recorded as deposit liabilities $ 59 $ 87