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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Income Tax Expense Applying Statutory Federal Income Rate

A reconciliation of the Company’s income taxes to the amount computed by applying the statutory federal income tax rate to the pretax loss is summarized as follows (in thousands):

		Year Ended December 31,
		2025								2024
Tax at statutory rates		$	(12,094	)			21.0	%		$	(4,323	)			21.0	%
State and local income taxes, net of federal income tax effect*			(136	)			0.2	%			(50	)			0.2	%
Effects of changes in tax laws or rates in the current period			—				—				—				—
Tax credits:
Research and development credits			(5,286	)			9.2	%			(2,986	)			14.5	%
Change in valuation allowance			15,766				(27.4	)%			6,146				(29.8	)%
Nontaxable or nondeductible items:
Stock-based compensation expense			221				(0.4	)%			84				(0.4	)%
Research expenses			—				—				347				(1.7	)%
Executive compensation			138				(0.2	)%			—				—
Permanent differences			20				—				(14	)			0.1	%
Changes in unrecognized tax benefits			1,371				(2.4	)%			796				(3.9	)%
Other, net			—				—				—				—
Total income tax expense (benefit)		$	—				—			$	—				—

Schedule of Significant Components of Company's Deferred Income Taxes

Significant components of the Company’s deferred income taxes were as follows (in thousands):

		December 31,
		2025				2024
Deferred tax assets:
Net operating loss carryforward		$	23,497			$	8,627
Capitalized R&D			3,731				4,202
Investment in securities			1,301				1,298
R&D tax credits			7,659				3,256
Allowance for receivables			711			696
Other, net			1,761			628
Total gross deferred tax assets			38,660				18,707
Deferred tax liabilities:
Right-of-use asset			(99	)			(206	)
Cash to accrual method change			(32	)			(63	)
Other, net			(7	)			(2	)
Total gross deferred tax liabilities			(138	)			(271	)
Valuation allowance			(38,522	)			(18,436	)
Net deferred tax assets		$	—			$	—

Summary of Reconciliation of amount of Unrecognized Tax Benefits

A reconciliation of the amount of unrecognized tax benefits is as follows (in thousands):

		Year Ended December 31,
		2025				2024
Beginning balance		$	1,104			$	294
Additions related to current year positions			1,494				810
Additions (decreases) related to prior year positions			(86	)			—
Additions (decreases) due to settlement			—				—
Expiration of unrecognized tax benefits			—				—
Ending balance		$	2,512			$	1,104

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Topic 740
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-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Tabular disclosure of the change in unrecognized tax benefits.

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