Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes - Schedule of Deferred Tax Assets (Details)

v3.25.1
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]    
Royalty agreement liabilities $ 3,913 $ 1,587
Net operating loss 81,971 9,179
Section 174 R&D capitalization 6,288 4,548
Stock-based compensation 419 274
Accrued expenses and other 354 132
Orphan drug credit 199 199
Other tax credits 24 0
Startup costs 86 95
Net deferred tax assets 93,254 16,014
Valuation allowance (93,254) (16,014)
Net deferred tax asset 0 0
(Increase) decrease in valuation allowance $ (77,240) $ 4,735