|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
FY2023
12 months to Dec 31, 2023
|
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Net loss | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Accretion of discount on marketable securities | |||
| Non-cash operating lease expense | |||
| Stock-based compensation expense | |||
| Change in fair value of Series A common stock warrant liability | |||
| Write-off of deferred financing costs | |||
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current 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 marketable securities | |||
| Sales and maturities of marketable securities | |||
| Net cash provided by (used in) investing activities | |||
| Cash flows from financing activities | |||
| Proceeds from sale of Series A common stock, net of issuance costs | |||
| Proceeds from initial public offering, net of underwriters' commissions and discounts | |||
| Payment of financing costs | |||
| Proceeds from exercise of stock options | |||
| Net cash provided by financing activities | |||
| Net (decrease) increase in cash and cash equivalents | |||
| Cash and cash equivalents at beginning of period | |||
| Cash and cash equivalents at end of period | |||
| Supplemental non-cash investing and financing activities: | |||
| Right-of-use assets obtained in exchange for operating lease obligations | |||
| Deferred financing costs within accounts payable and accrued expenses | |||
| Conversion of redeemable convertible preferred stock to Series A and Series B common stock | |||
| Reclassification of common stock to Series A common stock | |||
| Deferred financing costs in accrued expenses |
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