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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | ||
| Net (accretion) and amortization of investments in marketable securities | ||
| Change in fair value of preferred stock tranche right liability | ||
| Non-cash lease expense | ||
| Stock-based compensation expense | ||
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | ||
| Other assets | ||
| Accounts payable | ||
| Accrued expenses and other current liabilities | ||
| Operating lease liabilities | ||
| Net cash used in operating activities | ||
| Cash flows from investing activities | ||
| Purchases of short-term investments | ||
| Maturities of short-term investments | ||
| Purchases of property and equipment | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities | ||
| Proceeds from initial public offering and concurrent private placement, net of underwriter discounts and commissions and deferred offering costs | ||
| Proceeds from issuance of Series B convertible preferred stock, net of issuance costs paid | ||
| Proceeds from underwritten public offering, net of underwriter discounts and commissions and deferred offering costs | ||
| Proceeds from exercise of stock options | ||
| Repurchase of unvested restricted common stock | ||
| Net cash provided by financing activities | ||
| Net (decrease) 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 disclosure for noncash investing and financing activities: | ||
| Right-of-use assets obtained in exchange for operating lease liabilities | ||
| Settlement of preferred stock tranche right liability | ||
| Offering costs included in accounts payable and accrued expenses at period end | ||
| Conversion of convertible preferred stock into common stock upon closing of initial public offering | ||
| Series A Convertible Preferred Stock | ||
| Series B Convertible Preferred Stock | ||
| Purchases of property and equipment included in accounts payable and accrued expenses at period end | ||
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | ||
| Restricted cash |
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