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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities                
Net loss $ (12,908) $ (18,176) $ (14,619) $ (6,629) $ (41,470) $ (29,366)    
Adjustments to reconcile net loss to net cash used in operating activities:                
Accretion of discount on marketable securities         (689) (1,197)    
Non-cash operating lease expense         114 108    
Stock-based compensation expense         4,758 3,754    
Write-off of deferred financing costs         230 0    
Changes in operating assets and liabilities:                
Prepaid expenses and other current assets         (1,547) (3,261)    
Accounts payable, accrued expenses and other current liabilities         4,902 (1,351)    
Operating lease liabilities         (115) (98)    
Net cash used in operating activities         (33,817) (31,411)    
Cash flows from investing activities                
Purchases of marketable securities         (89,788) (94,329)    
Sales and maturities of marketable securities         79,986 22,796    
Net cash provided by investing activities         (9,802) (71,533)    
Cash flows from financing activities                
Proceeds from sale of Series A common stock, net of issuance costs         0 105,750    
Payment of financing costs         0 (1,045)    
Proceeds from exercise of stock options         275 114    
Net cash provided by financing activities         275 104,819    
Net (decrease) increase in cash and cash equivalents             $ (43,344) $ 1,875
Cash and cash equivalents at beginning of period   $ 75,840   $ 75,139 75,840 75,139 75,139  
Cash and cash equivalents at end of period $ 32,496   $ 77,014   32,496 77,014 $ 75,840 $ 75,139
Supplemental non-cash investing and financing activities:                
Right-of-use assets obtained in exchange for operating lease obligations         152 149    
Deferred financing costs within accounts payable and accrued expenses         $ 75 $ 75