XML 41 R4.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating Expenses [Abstract]    
Research and development $ 48,936,000 $ 17,363,000
General and administrative 13,789,000 5,305,000
Credit loss - related party accounts receivable 0 117,000
Total operating expenses 62,725,000 22,785,000
Loss from operations (62,725,000) (22,785,000)
Other income (expense), net:    
Unrealized loss on short-term investments (5,000) (217,000)
Interest and dividend income 5,139,000 2,414,000
Total other income, net 5,134,000 2,197,000
Net Loss $ (57,591,000) $ (20,588,000)
Net loss per share of common stock, basic $ (2.93) $ (5.15)
Net loss per share of common stock, diluted $ (2.93) $ (5.15)
Weighted-average shares used in net loss per share calculation, basic 19,624,626 3,996,376
Weighted-average shares used in net loss per share calculation, diluted 19,624,626 3,996,376
Comprehensive loss:    
Net loss $ (57,591,000) $ (20,588,000)
Unrealized gain on short-term investments 81,000 0
Comprehensive loss $ (57,510,000) $ (20,588,000)