XML 17 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2025
Operating expenses      
Research and development [1] $ 2,473 $ 20,347 $ 43,059
General and administrative [2] 158 5,538 18,081
Total operating expenses 2,631 25,885 61,140
Loss from operations (2,631) (25,885) (61,140)
Other income (expense):      
Interest income 0 1,278 1,780
Interest expense [3] 0 0 (2,185)
Total other income (expense) 0 1,278 (405)
Net loss and comprehensive loss (2,631) (24,607) (61,545)
Net loss $ (2,631) $ (24,607) $ (61,545)
Net loss per share attributable to ordinary shareholders, basic (in dollars per share) $ (3.60) $ (1.27) $ (7.89)
Net loss per share attributable to ordinary shareholders, diluted (in dollars per share) (3.60) (1.27) (7.89)
Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic (in dollars per share) 0 (1,266.44) (7,891.38)
Net loss per share attributable to Series A non-voting convertible preferred shareholders, diluted (in dollars per share) $ 0 $ (1,266.44) $ (7,891.38)
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic (in shares) 730,092 16,540,771 6,640,402
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, diluted (in shares) 730,092 16,540,771 6,640,402
Weighted-average ordinary shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, basic (in shares) 0 2,890 1,160
Weighted-average ordinary shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, diluted (in shares) 0 2,890 1,160
[1] Includes related party amount of $6,175 and $21,244 for the three and nine months ended September 30, 2025, respectively, and $2,473 for the period from September 19, 2024 (inception) through September 30, 2024.
[2] Includes related party amount of $89 and $719 for the three and nine months ended September 30, 2025, respectively, and $90 for the period from September 19, 2024 (inception) through September 30, 2024.
[3] Includes related party amount of $865 for the nine months ended September 30, 2025.