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Income Taxes - Net operating losses (FY) (Details) - USD ($) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2025 | Dec. 31, 2024
Income Taxes |  |
Accrued interest or penalties related to uncertain tax positions | $ 0 |
Income tax examination, penalties and interest expense | $ 0 |
Income Tax Examination, Description | The Company will recognize interest and penalties related to uncertain tax positions as a component of interest income, net. As of December 31, 2025, the Company had no accrued interest or penalties related to uncertain tax positions and no amounts have been recognized in the Company’s statement of operations. Tax years from 2022 and after remain subject to examination by the taxing jurisdictions. The NOL and tax credit carryforwards remain subject to review until utilized. |
Income Tax Examination, Year under Examination | 2021 2022 2023 2024 2025 |
Research tax credits |  |
Income Taxes |  |
Research tax credits | $ 55,020 | $ 50,842
Domestic Tax Jurisdiction [Member] |  |
Income Taxes |  |
Net operating loss carryforwards subject to expiration | 300 |
Federal |  |
Income Taxes |  |
Net operating loss carryforwards | 398,039 | 339,055
Federal | Research tax credits |  |
Income Taxes |  |
Research tax credits | 11,600 |
Federal | Orphan drug |  |
Income Taxes |  |
Research tax credits | 43,400 |
State |  |
Income Taxes |  |
Net operating loss carryforwards | 398,035 | 339,051
Local |  |
Income Taxes |  |
Net operating loss carryforwards | $ 277,828 | $ 218,844

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- Definition A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 + Details
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- Definition The amount of estimated penalties and interest accrued as of the balance sheet date arising from income tax examinations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 + Details
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