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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 141,239 $ 28,769
Prepaid expenses and other current assets 5,618 2,115
Total current assets 146,857 30,884
Property and equipment, net 2,151 3,122
Finance right-of-use assets, net 919 1,437
Operating right-of-use assets 2,235 2,669
Deferred offering costs 0 669
Restricted cash 587 587
Other assets 156 31
Total assets 152,905 39,399
Current liabilities:    
Accounts payable 976 409
Accrued expenses and other current liabilities 7,850 8,141
SAFE liabilities 0 30,515
Operating lease liability 2,295 1,348
Finance lease liability 489 475
Total current liabilities 11,610 40,888
Operating lease liability, non-current 132 1,644
Finance lease liability, non-current 387 876
Total liabilities 12,129 43,408
Commitments and contingencies (Note 12)
Convertible preferred stock (Series A-1, A-2, A-3 and A-4), $0.0001 par value; no shares authorized, issued or outstanding as of December 31, 2024; 3,647,675 shares authorized as of December 31, 2023; 3,647,675 shares issued and outstanding as of December 31, 2023; aggregate liquidation preference of $87,459 as of December 31, 2023 0 80,627
Stockholders' Equity (Deficit):    
Preferred stock, 10,000,000 shares and no shares authorized as of December 31, 2024 and 31, 2023, respectively; no shares issued and outstanding as of December 31, 2024 and 2023, respectively 0 0
Common stock, $0.0001 par value; 150,000,000 shares authorized as of December 31, 2024 and 2023, respectively; 14,856,309 and 1,407,753 shares issued and outstanding as of December 31, 2024 and 2023, respectively 2 0
Additional paid-in capital 289,351 5,979
Accumulated other comprehensive income (loss) 9 (11)
Accumulated deficit (148,586) (90,604)
Total stockholders' equity (deficit) 140,776 (84,636)
Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 152,905 $ 39,399