|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Operating activities | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Interest earned on marketable securities held in Trust Account | ||
| Non-cash accrued offering costs adjustment | ||
| Depreciation of property and equipment | ||
| Stock-based compensation | ||
| Fair value of common stock issued to related party | ||
| Change in fair value of participation right liability | ||
| Net accretion of premiums on marketable securities | ||
| Amortization of right-of-use assets | ||
| Changes in operating assets and liabilities: | ||
| Prepaid expense and other currents assets | ||
| Short-term prepaid insurance | ||
| Long-term prepaid insurance | ||
| Due to related party | ||
| Accounts payable and accrued expenses | ||
| Other non-current assets | ||
| Accounts payble | ||
| Accrued compensation and benefits | ||
| Accrued research and development liabilities | ||
| Accrued professional services | ||
| Operating lease liabilities | ||
| Other accrued liabilities | ||
| Balances due to and from related parties | ||
| Net cash used in operating activities | ||
| Investing activities | ||
| Investment of cash in Trust Account | ||
| Maturities of marketable securities | ||
| Purchases of marketable securities | ||
| Change in related party receivables related to cash pooling arrangement | ||
| Purchases of property and equipment | ||
| Net cash provided by (used in) investing activities | ||
| Financing activities | ||
| Proceeds from sale of Public Shares, net of underwriting discounts paid | ||
| Proceeds from reverse recapitalization and PIPE Financing | ||
| Repayment of promissory note – related party | ||
| Payment of offering costs | ||
| Payment of deferred transaction costs | ||
| Issuance of Series A redeemable convertible preferred stock | ||
| Issuance of Series B redeemable convertible preferred stock, net of issuance costs | ||
| Contribution from BridgeBio Pharma | ||
| Exercise of common stock options for cash | ||
| Net cash provided by financing activities | ||
| Net increase in cash, cash equivalents, and restricted cash | ||
| Cash, cash equivalents, and restricted cash at beginning of period | ||
| Cash, cash equivalents, and restricted cash at end of period | ||
| Supplemental disclosures of non-cash investing and financing activities: | ||
| Deferred offering costs paid by Sponsor through promissory note | ||
| Settlement of participation right liability upon issuance of Series B redeemable convertible preferred stock | ||
| Right-of-use asset recognized in exchange for operating lease liabilities | ||
| Unpaid property and equipment included in accounts payable | ||
| Deferred de-SPAC transaction costs included in accrued professional services | ||
| Conversion of related party payables into Series A redeemable convertible preferred stock issued to BridgeBio Pharma | ||
| Deemed contribution from BridgeBio Pharma upon forgiveness of related party payables | ||
| Initial recognition of participation right liability in connection with issuance of Series B redeemable convertible preferred stock | ||
| Non-cash transfers of property and equipment from BridgeBio Pharma |
Loading...
