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Segments (Tables)
 12 Months Ended
Dec. 31, 2024
Segments [Abstract]  
Summary of Significant Expense Categories and Asset Categories
The table below summarizes the significant expense categories regularly reviewed by the CODM for the years ended December 31, 2024 and 2023 (in thousands).

 
  
Year Ended
December 31,
  
 
  
2024
    
2023
  
 
  
(in thousands)
  
Operating expenses:
            
Research and development
  
$
36,571
    
$
32,130
  
General and administrative
    
5,862
      
5,942
  
Total operating expenses
    
42,433
      
38,072
  
Total operating loss
    
(42,433
)
    
(38,072
)
Other income (expense):
                
Interest income
    
336
      
230
  
Interest expense
    
(5,540
)
    
(2,792
)
Change in fair value of derivatives
    
590
      
(432
)
Total other expense
    
(4,614)
      
(2,994
)
Net loss
  
$
(47,047
)
  
$
(41,066
)
Preferred stock dividends
    
(153
)
    
(120
)
Warrant modification
    
—
      
(3,619
)
Net loss applicable to common stockholders
  
$
(47,200
)
  
$
(44,805
)

The table below summarizes the significant asset categories regularly reviewed by the CODM for the years ended December 31, 2024 and 2023 (in thousands).

 
  
December 31,
  
 
  
2024
    
2023
  
 
  
(in thousands)
  
Cash and cash equivalents
  
$
15,120
    
$
25,660