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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 47,051 $ 61,641
Short-term investments 62,976 12,022
Prepaid expenses and other current assets 1,859 474
Total current assets 111,886 74,137
Operating lease right-of-use asset 355 735
Other assets 4,940 2,635
Total assets 117,181 77,507
Current liabilities:    
Accounts payable 2,072 2,298
Accrued liabilities 8,035 2,291
Operating lease liability, current portion 441 338
Total current liabilities 10,548 4,927
Operating lease liability, net of current portion 0 441
Other long-term liabilities 0 26
Total liabilities 10,548 5,394
Convertible preferred stock, $0.00001 par value; no shares and 96,941,453 shares authorized at December 31, 2025 and 2024, respectively; no shares and 96,941,453 shares issued and outstanding at December 31, 2025 and 2024, respectively; liquidation preference of $0 and $129,135 at December 31, 2025 and 2024, respectively 0 126,756
Stockholders' equity (deficit)    
Preferred stock, $0.00001 par value; 10,000,000 and no shares authorized at December 31, 2025 and 2024, respectively; no shares issued and outstanding at December 31, 2025 and 2024 0 0
Common stock, $0.00001 par value; 490,000,000 and 157,230,354 shares authorized at December 31, 2025 and 2024, respectively; 21,815,353 and 4,075,386 shares issued at December 31, 2025 and 2024, respectively; 21,815,353 and 4,066,969 shares outstanding at December 31, 2025 and 2024, respectively 0 0
Additional paid-in capital 222,470 3,684
Accumulated other comprehensive income 81 0
Accumulated deficit (115,918) (58,327)
Total stockholders' equity (deficit) 106,633 (54,643)
Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 117,181 $ 77,507