| Metric | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cash and cash equivalents | $110.6M-65.4% | $319.7M+462.4% | $56.9M |
| Short-term investments | $232.6M+649.6% | $31.0M | — |
| Restricted cash | $90K | — | — |
| Prepaid expenses and other current assets | $8.0M+57.5% | $5.1M+71.9% | $2.9M |
| Total current assets | $351.2M-1.3% | $355.9M+495.1% | $59.8M |
| Property and equipment, net | $34K-81.6% | $185K-4.1% | $193K |
| Operating lease right-of-use assets, net | $1.4M+34.9% | $1.0M+22.3% | $821K |
| Long-term investments | $17.3M | — | — |
| Other non-current assets | $13.8M+7.4% | $12.9M+76.7% | $7.3M |
| Total assets | $383.6M+3.7% | $370.0M+442.6% | $68.2M |
| Accounts payable | $7.1M-58.5% | $17.1M+217.6% | $5.4M |
| Accrued expenses | $54.4M+38.2% | $39.4M+127.5% | $17.3M |
| Operating lease liabilities, current | $1.1M+42.0% | $785K+41.2% | $556K |
| Total current liabilities | $62.6M+9.4% | $57.3M+146.3% | $23.3M |
| Royalty obligation | $78.6M | — | — |
| Operating lease liabilities, less current portion | $211K-3.2% | $218K-15.2% | $257K |
| Total long-term liabilities | $78.8M+36068.3% | $218K | — |
| Total liabilities | $141.5M+146.0% | $57.5M+31.3% | $43.8M |
| Common stock, par value $0.0001 per share; 175,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 54,485,518 and 41,793,412 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $5000.00+25.0% | $4000.00 | — |
| Additional paid-in capital | $1.01B+44.0% | $699.7M+14962.5% | $4.6M |
| Accumulated other comprehensive (loss) income | -$64K-133.0% | $194K+424.3% | $37K |
| Accumulated deficit | -$765.1M-97.5% | -$387.4M-68.1% | -$230.4M |
| Total stockholders' equity | $242.1M-22.5% | $312.5M+238.4% | -$225.7M |
| Total liabilities and stockholders' equity | $383.6M+3.7% | $370.0M+442.6% | $68.2M |
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Source: SEC EDGAR 10-K and 10-Q filings. Up to 10 years annual / 16 quarters shown.