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Equity Incentive Plan and Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Stock options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 100	$ 0	$ 200	$ 0
Stock options \| Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	0	0	0	0
Stock options \| Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	100	0	200	0
RSA
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	900	0	2,600	0
RSA \| Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	800	0	2,300	0
RSA \| Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 100	$ 0	$ 300	$ 0

Description of Business	6 Months Ended
Description of Business	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Organization Braveheart Bio, Inc. (the “Company”) was incorporated in the state of Delaware in May 2024 and is located in San Francisco, California. The Company is a clinical-stage biopharmaceutical company dedicated to developing therapeutics to treat hypertrophic cardiomyopathy (“HCM”) and related conditions by targeting overactive proteins within the heart. During the third quarter of 2026, the Company completed its initial public offering (“IPO”) of its common stock, par value $0.0001 per share (the “common stock”) in which the Company sold 24,437,500 shares of its common stock, which includes the exercise in full of the underwriters’ option to purchase an additional 3,187,500 shares of common stock, at a public offering price of $18.00 per share, resulting in aggregate gross proceeds of $439.9 million. On July 29, 2026, in connection with the IPO, the Company effected a 1-for-4.38 reverse stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios of each series of the Company’s redeemable convertible preferred stock. Accordingly, all share and per share amounts for all periods presented in the accompanying unaudited interim condensed financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this reverse stock split and adjustments of the redeemable convertible preferred stock conversion ratios throughout this Quarterly Report. Liquidity and Capital Resources Since inception, the Company has devoted substantially all of its resources to research and development activities, business planning, establishing and maintaining its intellectual property portfolio, hiring personnel, raising capital, and providing general and administrative support for these operations. The Company has a limited operating history, and the sales and income potential of its business is unproven. The Company has incurred net losses and negative cash flows from operating activities since its inception and expects to continue to incur net losses into the foreseeable future as it continues the development of its therapeutic candidates. From inception to June 30, 2026, the Company has funded its operations through the issuance of redeemable convertible preferred stock. As of June 30, 2026, the Company had an accumulated deficit of $95.9 million and cash and cash equivalents of $122.8 million. For the six months ended June 30, 2026 and 2025, the Company had a net loss of $29.3 million and $0.5 million, respectively, and net cash used in operating activities of $22.1 million and zero, respectively. The Company has evaluated whether there are conditions and events considered in the aggregate that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these condensed financial statements are issued. As of September 8, 2026, the issuance date of the condensed financial statements, the Company expects that its cash and cash equivalents, including the proceeds from its IPO, will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next twelve months. The Company will need additional financing to support its continuing operations and pursue its growth strategy. Until such time as the Company can generate significant revenue from product sales, if ever, the Company expects to finance its cash needs through a combination of equity offerings, debt or royalty financings, and collaborations. The Company may not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into collaborations or other arrangements. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. If the Company is unable to obtain sufficient funding, the Company will be forced to delay, scale back or discontinue some or all of its research and development programs, product portfolio expansion efforts or commercialization efforts, which could adversely affect its business prospects. Although management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing operations, if at all.

Condensed Statement of Cash Flows (unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement [Line Items]
Accrued expenses and other current liabilities	$ 3,912	$ 40
Cash paid for purchased in-process research and development	3,000	0
Related Party
Statement [Line Items]
Accrued expenses and other current liabilities	389	0
Cash paid for purchased in-process research and development	$ 3,000	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Equity Incentive Plan and Stock-Based Compensation - Fair Value Assumptions of Options (Details) - Stock options	6 Months Ended
	Jun. 30, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free rate of interest, minimum	3.77%
Risk-free rate of interest, maximum	4.26%
Expected stock price volatility, minimum	79.45%
Expected stock price volatility, maximum	82.67%
Dividend yield	0.00%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	6 years 7 days
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	6 years 29 days

Commitment and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Proceedings

In the event the Company becomes subject to claims or suits arising in the ordinary course of business, the Company would accrue an estimated liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

The Company has not recorded any such liabilities as of June 30, 2026.

Hengrui License Agreement – Contingent Obligations

As described in Note 3 to our audited financial statements for the year ended December 31, 2025, the Company is obligated to make contingent cash payments to Hengrui upon the achievement of specified milestones. During the six months ended June 30, 2026, the Company had incurred $6.0 million related to technology transfer milestones. The Company will continue to evaluate the probability of remaining contingent milestone and royalty payments at each reporting period.

The Flipping Transaction provision described in Note 3 to our audited financial statements for the year ended December 31, 2025, remains in effect through March 3, 2027 (18 months from the September 3, 2025, effective date of the License Agreement). As of June 30, 2026, no Flipping Transaction has occurred.

Operating Lease

Effective January 2026, the Company executed a sublease agreement (the “Sublease”) with Aperture Group, LLC, for office space located in San Francisco, California. The Company determined the Sublease is an operating lease. The initial term of the Sublease is approximately 24 months and the commencement date occurred in January 2026. Lease payments total approximately $0.4 million annually, exclusive of operating expenses including utilities, common area maintenance, insurance, and property taxes.

Upon commencement of the Sublease in January 2026, the Company recognized an operating lease right-of-use asset of $0.8 million and a corresponding operating lease liability of $0.8 million, based on the present value of the remaining minimum lease payments using an incremental borrowing rate of 7.65%.

Rent expense was $0.1 million and $0.2 million for the three and six months ended June 30, 2026, respectively.

Future minimum annual obligations under the Sublease, to be recognized over a weighted-average remaining term of 1.4 years, are as follows (in thousands):


	Period Ended June 30,
2026 (remaining)	175
2027	433
Total minimum lease payments	608
Less: amount representing interest	(33)
Present value of lease liabilities	575
Less: current portion of lease liabilities	(377)
Lease liabilities, net of current portion	$	198

Commitment and Contingencies (Tables)

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Annual Obligation on Sublease

Future minimum annual obligations under the Sublease, to be recognized over a weighted-average remaining term of 1.4 years, are as follows (in thousands):


	Period Ended June 30,
2026 (remaining)	175
2027	433
Total minimum lease payments	608
Less: amount representing interest	(33)
Present value of lease liabilities	575
Less: current portion of lease liabilities	(377)
Lease liabilities, net of current portion	$	198

Description of Business - Organization (Details) $ / shares in Units, $ in Millions	Aug. 07, 2026 USD ($) $ / shares shares	Jul. 29, 2026	Jun. 30, 2026 $ / shares	Dec. 31, 2025 $ / shares
Subsidiary or Equity Method Investee [Line Items]
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.0001
Subsequent Event
Subsidiary or Equity Method Investee [Line Items]
Common stock, par value (in dollars per share)	$ 0.0001
Reverse stock split ratio		0.2283
Subsequent Event \| IPO
Subsidiary or Equity Method Investee [Line Items]
Number of shares sold (in shares) \| shares	24,437,500
Offering price (in dollars per share)	$ 18.00
Proceeds from IPO \| $	$ 439.9
Subsequent Event \| Underwriter's Option
Subsidiary or Equity Method Investee [Line Items]
Number of shares sold (in shares) \| shares	3,187,500

Convertible Preferred Stock and Stockholders’ Deficit - Common Stock, Narrative (Details) - $ / shares	Jun. 30, 2026	Dec. 31, 2025
Equity [Abstract]
Common stock, shares authorized (in shares)	335,500,000	335,500,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares issued (in shares)	15,943,937	15,943,937
Common stock, shares outstanding (in shares)	7,535,986	6,685,088

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

+ Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Total fair value of assets	$ 122,134	$ 88,991
Money market funds
Assets
Cash and cash equivalents	122,134	88,991
(Level 1)
Assets
Total fair value of assets	122,134	88,991
(Level 1) \| Money market funds
Assets
Cash and cash equivalents	122,134	88,991
(Level 2)
Assets
Total fair value of assets	0	0
(Level 2) \| Money market funds
Assets
Cash and cash equivalents	0	0
(Level 3)
Assets
Total fair value of assets	0	0
(Level 3) \| Money market funds
Assets
Cash and cash equivalents	$ 0	$ 0

Commitment and Contingencies - Future Minimum Payment (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Jan. 31, 2026	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
2026 (remaining)	$ 175
2027	433
Total minimum lease payments	608
Less: amount representing interest	(33)
Present value of lease liabilities	575	$ 800
Less: current portion of lease liabilities	(377)		$ 0
Lease liabilities, net of current portion	$ 198		$ 0

Balance Sheet Details - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued licensing, related party	$ 0	$ 3,000
Accrued research and development	1,962	153
Accrued compensation related	1,540	315
Accrued professional services	1,066	370
Accrued clinical	780	0
Accrued deferred offering and issuance costs	663	272
Other accrued expenses	1	74
Total accrued expenses and other current liabilities	$ 6,012	$ 4,184

Balance Sheet Details - Deferred Offering Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred offering costs	$ 2,811	$ 0

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and pursuant to the rules and regulations applicable to interim financial reporting. These condensed financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2025. The unaudited interim condensed financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. Such adjustments are of a normal recurring nature. The condensed results of operations for the six months ended June 30, 2026, are not necessarily indicative of the results to be expected for the full year ending December 31, 2026, or for any other future period. The condensed balance sheet as of December 31, 2025, has been derived from the audited financial statements as of that date. Use of Estimates The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of income and expenses during the reporting periods. Significant estimates and assumptions are used for, but not limited to, the accruals for research and development expenses, stock-based compensation expense, the determination of fair value of equity instruments, the fair value of acquired in-process research and development, and income taxes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. Operating Leases Effective January 2026, the Company adopted ASC 842, Leases, in connection with the execution of its first lease agreement (see Note 6). The Company determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset during the lease term, and operating lease liabilities represent the Company’s obligation to make lease payments. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the remaining lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term. Property and Equipment Property and equipment, net consists of lab equipment, computer equipment, furniture and fixtures, and leasehold improvements, which are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets (three to seven years, or, for leasehold improvements, the shorter of the remaining lease term or the estimated useful life). Repairs and maintenance costs are expensed as incurred. Deferred Offering Costs Deferred offering costs, consisting of legal, accounting, and other third-party fees directly attributable to the Company’s anticipated initial public offering, are capitalized within deferred offering costs on the condensed balance sheet. As of June 30, 2026, and December 31, 2025, the Company had capitalized $2.8 million and zero respectively, of deferred offering costs. These costs will be offset against the proceeds of the offering in the third quarter of 2026 in connection with the IPO closing. Recently Issued Accounting Standards Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses. This ASU requires enhanced disaggregation of certain expense categories in the notes to the financial statements. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and the standard may be applied on either a prospective or retrospective basis. The Company is currently evaluating the impact of this standard on its financial statements.

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Deferred offering costs	$ 2,811	$ 0
Minimum
Property, Plant, and Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Maximum
Property, Plant, and Equipment [Line Items]
Estimated useful lives of property and equipment	7 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Convertible Preferred Stock and Stockholders’ Deficit - Convertible Preferred Stock, Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 24, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Equity [Abstract]
Issuance of Series A redeemable convertible preferred stock, net of nominal issuance costs (in shares)	60,000,000	60,000,000		60,000,000
Issuance of Series A redeemable convertible preferred stock, net of nominal issuance costs	$ 60,000			$ 60,000
Purchase price (in dollars per share)	$ 1.00
Deemed dividends upon issuance of redeemable convertible preferred stock	$ 3,600	$ 3,615	$ 0	$ 3,615	$ 0

- Definition

Amount to be paid per share that is classified as temporary equity by entity upon redemption. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

- Definition

Value of new stock classified as temporary equity issued during the period.

+ References

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+ Details

Equity Incentive Plan and Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Options Outstanding
Balance at beginning of period (in shares)	320,773
Granted (in shares)	2,248,850	0
Exercised (in shares)	0
Forfeited (in shares)	(91,324)
Balance at end of period (in shares)	2,478,299
Options Outstanding, Vested and exercisable at end of period (in shares)	9,987
Weighted Average Exercise Price Per Share
Balance at beginning of period (in dollars per share)	$ 0.05
Granted (in dollars per share)	2.37
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0.05
Balance at end of period (in dollars per share)	2.15
Weighted Average Exercise Price Per Share, Vested and exercisable at end of period (in dollars per share)	$ 0.43
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Weighted Average Remaining Contractual Term, Balance at end of period	9 years 9 months 3 days
Weighted Average Remaining Contractual Term, Vested and exercisable at end of period	9 years 5 months 23 days
Aggregate Intrinsic Value at end of period	$ 2,272
Aggregate Intrinsic Value, Vested and exercisable at end of period	$ 26

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Information on Segment Profit or Loss Including Segment Expenses

The following table contains information on segment profit or loss, including significant segment expenses (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Revenue	$	—	$	—	$	—	$	—
Less:
External research and development	7,893		—		10,625		—
License milestones	—		—		6,000		—
In-process research and development	—		354		—		448
Personnel-related	5,322		—		10,133		—
Facilities	119		—		235		—
Other(a)	2,548		27		3,938		32
Other income	894		—		1,663		—
Net loss	$	(14,988)	$	(381)	$	(29,268)	$	(480)

______________

(a)Other primarily includes consultants, legal, insurance expenses and subscriptions.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Balance Sheet Details (Tables)

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	June 30, 2026		December 31, 2025
Accrued licensing, related party	$	—	$	3,000
Accrued research and development	1,962		153
Accrued compensation related	1,540		315
Accrued professional services	1,066		370
Accrued clinical	780		—
Accrued deferred offering and issuance costs	663		272
Other accrued expenses	1		74
Total accrued expenses and other current liabilities	$	6,012	$	4,184

Commitment and Contingencies - Operating Lease (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2026	Jun. 30, 2026	Jun. 30, 2026	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Initial lease term	24 years
Annual lease payment	$ 400
Operating lease right-of-use assets	800	$ 607	$ 607	$ 0
Operating lease liability	$ 800	575	575
Incremental borrowing rate (as a percent)	7.65%
Rent expense		$ 100	$ 200
Weighted-average remaining lease term		1 year 4 months 24 days	1 year 4 months 24 days

Net loss per share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended				6 Months Ended
	Apr. 24, 2026	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Numerator:
Net loss		$ (14,988)	$ (14,280)	$ (381)	$ (99)	$ (29,268)	$ (480)
Less: deemed dividend to preferred stockholders	$ (3,600)	(3,615)		0		(3,615)	0
Net loss attributed to common stockholders		(18,603)		(381)		(32,883)	(480)
Net loss attributed to common stockholders		$ (18,603)		$ (381)		$ (32,883)	$ (480)
Denominator:
Weighted-average common shares issued		15,948,961		2,792,409		15,947,543	1,403,918
Less: Weighted-average common shares subject to repurchase and vesting conditions		(8,547,179)		0		(8,813,672)	0
Weighted-average shares used to compute net loss per share, basic (in shares)		7,401,783		2,792,409		7,133,871	1,403,918
Weighted-average shares used to compute net loss per share, diluted (in shares)		7,401,783		2,792,409		7,133,871	1,403,918
Net loss per share attributable to common stockholders, basic (in dollars per share)		$ (2.51)		$ (0.14)		$ (4.61)	$ (0.34)
Net loss per share attributable to common stockholders, diluted (in dollars per share)		$ (2.51)		$ (0.14)		$ (4.61)	$ (0.34)

Net loss per share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Net loss per share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Numerator:
Net loss	$	(14,988)	$	(381)	$	(29,268)	$	(480)
Less: deemed dividend to preferred stockholders	(3,615)		—		(3,615)		—
Net loss attributable to common stockholders	$	(18,603)	$	(381)	$	(32,883)	$	(480)
Denominator:
Weighted-average common shares issued	15,948,961		2,792,409		15,947,543		1,403,918
Less: Weighted-average common shares subject to repurchase and vesting conditions	(8,547,179)		—		(8,813,672)		—
Weighted-average shares used to compute net loss per share, basic and diluted	7,401,783		2,792,409		7,133,871		1,403,918
Net loss per share attributable to common stockholders, basic and diluted	$	(2.51)	$	(0.14)	$	(4.61)	$	(0.34)

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been antidilutive are as follows:


			As of June 30, 2026
Common stock options outstanding(1)			2,470,452
Unvested restricted common stock			8,407,951
Common stock issuable upon conversion of Series A redeemable convertible preferred stock			49,657,532
Total			60,535,935

______________

(1)Excluded from this amount are 7,847 shares underlying vested common stock options with a weighted average exercise price of $0.04, which have been included in the computation of basic and diluted net loss per share on the date all necessary conditions have been satisfied for issuance, which is the date any service based vesting conditions have been met, as they represent shares issuable for little or no cash consideration upon the satisfaction of certain conditions pursuant to ASC 260-10-45-13.

Convertible Preferred Stock and Stockholders’ Deficit - Common Stock Reserved for Issuance (Details)	Jun. 30, 2026 shares
Class of Stock [Line Items]
Total common stock reserved for issuance (in shares)	62,308,335
Unvested restricted common stock
Class of Stock [Line Items]
Total common stock reserved for issuance (in shares)	8,407,951
Common stock options granted and outstanding
Class of Stock [Line Items]
Total common stock reserved for issuance (in shares)	2,478,299
Shares available for issuance under the 2025 equity incentive plan
Class of Stock [Line Items]
Total common stock reserved for issuance (in shares)	1,764,553
Redeemable convertible preferred stock
Class of Stock [Line Items]
Total common stock reserved for issuance (in shares)	49,657,532

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480070/505-10-S50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Subsequent Events - 2026 Equity Plans (Details) - shares	Aug. 04, 2026	Jun. 30, 2026
Subsequent Event [Line Items]
Total common stock reserved for issuance (in shares)		62,308,335
Subsequent Event \| 2026 Plan
Subsequent Event [Line Items]
Total common stock reserved for issuance (in shares)	10,761,900
Subsequent Event \| 2026 ESPP
Subsequent Event [Line Items]
Total common stock reserved for issuance (in shares)	894,100

Subsequent Events - Issuance of Stock Options (Details) - $ / shares		6 Months Ended
	Aug. 07, 2026	Jun. 30, 2026	Jun. 30, 2025
Subsequent Event [Line Items]
Stock options granted (in shares)		2,248,850	0
Stock options granted, price per share (in dollars per share)		$ 2.37
Subsequent Event \| IPO Grants
Subsequent Event [Line Items]
Stock options granted, price per share (in dollars per share)	$ 18.00
Subsequent Event \| IPO Grants \| Certain Employees and Non-Employee Consultants
Subsequent Event [Line Items]
Stock options granted (in shares)	1,605,500
Subsequent Event \| IPO Grants \| Employee \| Dr. Murdoch
Subsequent Event [Line Items]
Stock options granted (in shares)	550,000
Subsequent Event \| IPO Grants \| Employee \| Mr. Rickey
Subsequent Event [Line Items]
Stock options granted (in shares)	300,000
Subsequent Event \| IPO Grants \| Employee \| Ms. Anderson
Subsequent Event [Line Items]
Stock options granted (in shares)	300,000
Subsequent Event \| IPO Grants \| Nonemployee
Subsequent Event [Line Items]
Stock options granted (in shares)	210,000

Segment Reporting - Narrative (Details)	6 Months Ended
Segment Reporting - Narrative (Details)	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Equity Incentive Plan and Stock-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plan and Stock-Based Compensation

Stock Options

On May 5, 2026, the Company entered into an amendment to the 2025 Stock Option and Grant Plan (the “2025 Plan”), pursuant to which the number of shares of common stock available for issuance thereunder was increased to 14,576,068 shares, representing an increase of 2,191,781 shares.

A summary of the Company’s stock option activity for the six months ended June 30, 2026, under the 2025 Plan is as follows (in thousands, except share and per share data and years):


	Options Outstanding	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance at December 31, 2025	320,773	$	0.05
Granted	2,248,850	2.37
Exercised	—	—
Forfeited	(91,324)	0.05
Balance at June 30, 2026	2,478,299	$	2.15	9.76	$	2,272
Vested and exercisable at June 30, 2026	9,987	$	0.43	9.48	$	26

Exercisable options reflect the number of options vested as of the date reported. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the Company’s common stock for all options that were in-the-money as of June 30, 2026.

The weighted-average grant date fair value of options granted during the six months ended June 30, 2026, was $1.99 per share. There were no options granted during the six months ended June 30, 2025.

The Company recorded stock-based compensation expense related to stock options as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Research and development	$	0.1	$	—	$	0.2	$	—
General and administrative	—		—		—		—
Total stock-based compensation expense	$	0.1	$	—	$	0.2	$	—

As of June 30, 2026, the unrecognized compensation cost related to outstanding stock options was $4.6 million and is expected to be recognized as expense over a weighted-average period of approximately 3.7 years.

The assumptions used in the Black-Scholes option pricing model to determine the fair value of the option grants issued for the six months ended June 30, 2026, were as follows:


	June 30, 2026
Risk-free rate of interest	3.77% - 4.26%
Expected term (years)	6.02 - 6.08
Expected stock price volatility	79.45% - 82.67%
Dividend yield	—	%

Restricted Stock Awards

As of June 30, 2026, the Company recorded $0.1 million in other long-term liabilities on the condensed balance sheet related to unvested awards that the Company has the option to repurchase.

A summary of the Company’s restricted stock activity under the 2025 Plan for the six months ended June 30, 2026, is as follows:


	Number of Shares Outstanding	Weighted-Average Grant Date Fair Value
Balance at December 31, 2025	8,442,641	$	0.43
Issuance of unvested restricted stock awards	—	—
Share Vesting	(850,898)	0.90
Balance at June 30, 2026	7,591,743	$	1.02

In addition to grants under the 2025 Plan, the Company has also granted RSAs outside of the 2025 Plan. The shares were issued under the terms of restricted stock purchase agreements, and unvested shares are subject to repurchase by the Company upon the holder’s termination of its relationship with the Company at the original purchase price per share.

A summary of the Company’s restricted stock activity outside of the 2025 Plan for the six months ended June 30, 2026, is as follows:


	Number of Shares Outstanding	Weighted-Average Grant Date Fair Value
Balance at December 31, 2025	816,208	$	—
Issuance of unvested restricted stock awards	—	—
Share vesting	—	–
Balance at June 30, 2026	816,208	$	1.93

The total fair value of all RSAs vested during the six months ended June 30, 2026, was $0.8 million. The Company recorded stock-based compensation expense related to RSAs as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Research and development	$	0.1	$	—	$	0.3	$	—
General and administrative	0.8		—		2.3		—
Total stock-based compensation expense	$	0.9	$	—	$	2.6	$	—

As of June 30, 2026, the unrecognized compensation cost related to all outstanding RSAs was $7.5 million and is expected to be recognized over a weighted-average period of approximately 3.0 years. No stock-based compensation expense related to RSAs was recorded for the three and six months ended June 30, 2025.

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2026	Sep. 03, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	001-43432
Registrant Name	Braveheart Bio, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	99-2981994
Entity Address, Address Line One	One Letterman Drive, Building A, Suite A4-300
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94129
City Area Code	415
Local Phone Number	707-6312
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	BRVE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		90,038,969
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31
Central Index Key	0002131524

Equity Incentive Plan and Stock-Based Compensation - Restricted Stock Activity (Details) - RSA	6 Months Ended
	Jun. 30, 2026 $ / shares shares
2025 Plan
Number of Shares Outstanding
Balance at beginning of period (in shares) \| shares	8,442,641
Issuance of unvested restricted stock awards (in shares) \| shares	0
Share Vesting (in shares) \| shares	(850,898)
Balance at end of period (in shares) \| shares	7,591,743
Weighted-Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) \| $ / shares	$ 0.43
Issuance of unvested restricted stock awards (in dollars per share) \| $ / shares	0
Share Vesting (in dollars per share) \| $ / shares	0.90
Balance at end of period (in dollars per share) \| $ / shares	$ 1.02
Outside of the 2025 Plan
Number of Shares Outstanding
Balance at beginning of period (in shares) \| shares	816,208
Issuance of unvested restricted stock awards (in shares) \| shares	0
Share Vesting (in shares) \| shares	0
Balance at end of period (in shares) \| shares	816,208
Weighted-Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) \| $ / shares	$ 0
Issuance of unvested restricted stock awards (in dollars per share) \| $ / shares	0
Share Vesting (in dollars per share) \| $ / shares	0
Balance at end of period (in dollars per share) \| $ / shares	$ 1.93

Segment Reporting

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Reporting

The Company operates and manages its business as one reportable and operating segment, which is the business of developing therapeutics to treat hypertrophic cardiomyopathy. The Company’s chief operating decision maker (“CODM”) is the chief executive officer, who assesses performance of the segment based on net loss, which includes evaluating the progress of ongoing research and development. The measure of segment assets is reported on the balance sheet as total assets. All long-lived assets are maintained in the

United States. The following table contains information on segment profit or loss, including significant segment expenses (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Revenue	$	—	$	—	$	—	$	—
Less:
External research and development	7,893		—		10,625		—
License milestones	—		—		6,000		—
In-process research and development	—		354		—		448
Personnel-related	5,322		—		10,133		—
Facilities	119		—		235		—
Other(a)	2,548		27		3,938		32
Other income	894		—		1,663		—
Net loss	$	(14,988)	$	(381)	$	(29,268)	$	(480)

______________

(a)Other primarily includes consultants, legal, insurance expenses and subscriptions.

- Definition

The entire disclosure for segment reporting.

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+ Details

Net loss per share - Antidilutive Securities (Details)	6 Months Ended
Net loss per share - Antidilutive Securities (Details)	Jun. 30, 2026 $ / shares shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	60,535,935
Number of options vested (in shares)	7,847
Options vested, weighted average exercise price (in dollars per share) \| $ / shares	$ 0.04
Common stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,470,452
Unvested restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	8,407,951
Common stock issuable upon conversion of Series A redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	49,657,532

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are as follows (in thousands):


	As of June 30, 2026
	(Level 1)		(Level 2)		(Level 3)		Total
Assets
Money market funds	$	122,134	$	—	$	—	$	122,134
Total fair value of assets	$	122,134	$	—	$	—	$	122,134

	As of December 31, 2025
	(Level 1)		(Level 2)		(Level 3)		Total
Assets
Money market funds	$	88,991	$	—	$	—	$	88,991
Total fair value of assets	$	88,991	$	—	$	—	$	88,991

Convertible Preferred Stock and Stockholders’ Deficit - Series A Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025
Class of Stock [Line Items]
Shares Authorized (in shares)	217,500,000
Shares Issued (in shares)	217,500,000
Shares Outstanding (in shares)	217,500,000	157,500,000	157,500,000
Shares of Common Stock issuable upon conversion (in shares)	49,657,532
Carrying Value	$ 213,520	$ 149,885	$ 149,889
Aggregate Liquidation Preference	$ 217,500
Series A redeemable convertible preferred stock
Class of Stock [Line Items]
Shares Authorized (in shares)	185,000,000		185,000,000
Shares Issued (in shares)	185,000,000		125,000,000
Shares Outstanding (in shares)	185,000,000		125,000,000
Shares of Common Stock issuable upon conversion (in shares)	42,237,441
Carrying Value	$ 187,845		$ 124,214
Aggregate Liquidation Preference	$ 185,000		$ 125,000
Non-Voting Series A redeemable convertible preferred stock
Class of Stock [Line Items]
Shares Authorized (in shares)	32,500,000		32,500,000
Shares Issued (in shares)	32,500,000		32,500,000
Shares Outstanding (in shares)	32,500,000		32,500,000
Shares of Common Stock issuable upon conversion (in shares)	7,420,091
Carrying Value	$ 25,675		$ 25,675
Aggregate Liquidation Preference	$ 32,500		$ 32,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References

+ Details

- Definition

The aggregate liquidation preference (or restrictions) of stock classified as temporary equity that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

- Definition

The maximum number of securities classified as temporary equity that are permitted to be issued by an entity's charter and bylaws. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

- Definition

The number of securities classified as temporary equity that have been sold (or granted) to the entity's shareholders. Securities issued include securities outstanding and securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

- Definition

The number of securities classified as temporary equity that have been issued and are held by the entity's shareholders. Securities outstanding equals securities issued minus securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

Equity Incentive Plan and Stock-Based Compensation - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	May 05, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average grant date fair value of options granted (in dollars per share)				$ 1.99
Stock options granted (in shares)				2,248,850	0
Unrecognized compensation cost related to outstanding stock options		$ 4,600,000		$ 4,600,000
Stock repurchase liability, noncurrent		100,000		$ 100,000
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost, recognition period				3 years 8 months 12 days
Stock-based compensation expense		100	$ 0	$ 200	$ 0
RSA
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost, recognition period				3 years
Fair value of awards vested				$ 800,000
Unrecognized compensation cost related to outstanding awards other than options		7,500,000		7,500,000
Stock-based compensation expense		$ 900	$ 0	$ 2,600	$ 0
2025 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares of common stock available for issuance (in shares)	14,576,068
Increase in authorized shares (in shares)	2,191,781

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events 2026 Equity Plans On June 24, 2026, the Company’s board of directors approved the 2026 Stock Option and Incentive Plan (the “2026 Plan”) and the 2026 Employee Stock Purchase Plan (the “2026 ESPP), which were subsequently approved by the Company’s stockholders on July 29, 2026 and became effective on August 4, 2026, the date immediately preceding the date that the registration statement on Form S-1 for the Company's IPO was declared effective by the SEC. The Company has initially reserved 10,761,900 and 894,100 shares of common stock for issuance under the 2026 Plan and the 2026 ESPP, respectively. The 2026 Plan has replaced the 2025 Plan and the shares reserved for future issuance under the 2025 Plan ceased to be available for issuance at the time the 2026 Plan became effective. The 2025 Plan will continue to govern outstanding equity awards granted thereunder and any shares underlying outstanding stock awards granted under the 2025 Plan that subsequently expire or are repurchased, forfeited, cancelled, or withheld will return to the 2026 Plan and be reserved and available for issuance. Equity Awards Modification In July 2026, the Company’s board of directors modified the vesting criteria for 1.7 million shares of restricted stock awards for an executive officer with certain performance-based conditions. Under the modified terms, within ten years of the closing of the Company’s Series A financing, following the later of (i) the nine-month anniversary of the date the Company (or its parent) first becomes publicly listed and (ii) 30 days after the first public disclosure of the top-line clinical results of the Phase 3 study by Hengrui Pharma of BHB-1893 for obstructive hypertrophic cardiomyopathy, (a) 50% of the shares underlying the award will vest if the Company’s 30-day volume weighted average trading price exceeds six (6) times the original issuance price of the Series A redeemable convertible preferred stock before the 24-month anniversary of such listing date, and (b) all of the then-unvested shares underlying the award will vest if the Company’s 30-day volume weighted average trading price exceeds seven and one-half (7.5) times the original issuance price of the Series A redeemable convertible preferred stock before the 36-month anniversary of such listing date, in each case subject to the executive’s continued employment through such vesting date. If the shares underlying the award have not vested by the tenth anniversary of the closing of the Company’s Series A financing, the Company has the right, but not the obligation, to repurchase such shares at the original per share purchase price. Reverse Stock Split On July 29, 2026, the Company effected a 1-for-4.38 reverse stock split of its issued and outstanding shares of common stock. Redeemable convertible preferred stock was not split; rather, the Company effected a proportional adjustment to the conversion ratios for such stock. Accordingly, all share and per share amounts for all periods presented in the accompanying financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this reverse stock split. The historical share and per share amounts of redeemable convertible preferred stock were not adjusted. The total authorized shares and the par value per share was not adjusted as a result of the reverse stock split. Initial Public Offering On August 7, 2026, the Company completed its IPO, in which the Company sold 24,437,500 shares of its common stock, including the full exercise of the underwriters’ additional option, at a public offering price of $18.00 per share, resulting in aggregate net proceeds of approximately $404.5 million, after deducting underwriter discounts, commissions and other estimated offering expenses. Immediately prior to the closing of the IPO, the Company's outstanding redeemable convertible preferred stock automatically converted into 49,657,532 shares of common stock. Following the closing of the IPO, no shares of redeemable convertible preferred stock were outstanding. In connection with the closing of the IPO, the Company's certificate of incorporation was amended and restated to authorize 500,000,000 shares of common stock, par value $0.0001 per share and 10,000,000 shares of undesignated preferred stock, par value $0.0001 per share. Issuance of Stock Options In connection with the IPO, the Company’s board of directors approved various options grants under the 2026 Plan (collectively the “IPO Grants”). The IPO grants consist of grants to Dr. Murdoch, Mr. Rickey and Ms. Anderson of 550,000, 300,000 and 300,000 shares of the Company’s common stock, respectively, over an aggregate of 210,000 shares of common stock to certain of its non-employee directors (Chris Viehbacher, Jasper Bos, Ph.D., Erez Chimovits, Tim Lohoff, Ph.D., David Lubner, and David Malek), and over an aggregate of 1,605,500 shares of common stock to certain employees and non-employee consultants. The IPO Grants will each have an exercise price per share equal to $18.00, the initial public offering price, and will vest subject to the continued service relationship through the vesting dates. The Company determined that these option grants represent non-recognized subsequent events. Accordingly, the accompanying financial statements do not reflect the impact of these transactions.

Description of Business - Liquidity and Capital Resources (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 95,907				$ 95,907		$ 66,052
Cash and cash equivalents	122,831				122,831		$ 89,161
Net loss	$ (14,988)	$ (14,280)	$ (381)	$ (99)	(29,268)	$ (480)
Net cash used in operating activities					$ 22,136	$ 0

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 6
-Publisher FASB
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+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References

+ Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Assets measured at fair value on a recurring basis are as follows (in thousands):


	As of June 30, 2026
	(Level 1)		(Level 2)		(Level 3)		Total
Assets
Money market funds	$	122,134	$	—	$	—	$	122,134
Total fair value of assets	$	122,134	$	—	$	—	$	122,134

	As of December 31, 2025
	(Level 1)		(Level 2)		(Level 3)		Total
Assets
Money market funds	$	88,991	$	—	$	—	$	88,991
Total fair value of assets	$	88,991	$	—	$	—	$	88,991

There have been no transfers between fair value levels during the six months ended June 30, 2026.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

Segment Reporting - Schedule (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Less:
In-process research and development	$ 0		$ 354		$ 0	$ 448
Other income	894		0		1,663	0
Net loss	(14,988)	$ (14,280)	(381)	$ (99)	(29,268)	(480)
Reportable Segment
Segment Reporting [Line Items]
Revenue	0		0		0	0
Less:
External research and development	7,893		0		10,625	0
License milestones	0		0		6,000	0
In-process research and development	0		354		0	448
Personnel-related	5,322		0		10,133	0
Facilities	119		0		235	0
Other	2,548		27		3,938	32
Other income	894		0		1,663	0
Net loss	$ (14,988)		$ (381)		$ (29,268)	$ (480)

Subsequent Events - Equity Awards Modification (Details) - Subsequent Event shares in Millions	1 Months Ended
	Jul. 31, 2026 day d shares
Subsequent Event [Line Items]
IPO anniversary period	9 months
Top-line clinical results, period after first public disclosure	30 days
RSA
Subsequent Event [Line Items]
Number of shares with modification \| shares	1.7
Award vesting period	10 years
RSA \| Share-Based Payment Arrangement, Tranche One
Subsequent Event [Line Items]
Award vesting percentage	50.00%
Volume weighted average trading price, threshold trading days \| day	30
Volume weighted average trading price, original issuance price of redeemable convertible preferred stock, multiplier	6
Volume weighted average trading price exceeds the original issuance price of redeemable convertible preferred stock, period	24 months
RSA \| Share-Based Payment Arrangement, Tranche Two
Subsequent Event [Line Items]
Volume weighted average trading price, threshold trading days \| d	30
Volume weighted average trading price, original issuance price of redeemable convertible preferred stock, multiplier	7.5
Volume weighted average trading price exceeds the original issuance price of redeemable convertible preferred stock, period	36 months

Subsequent Events - Reverse Stock Split (Details)	Jul. 29, 2026
Subsequent Event
Subsequent Event [Line Items]
Reverse stock split ratio	0.2283

Condensed Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 122,831	$ 89,161
Prepaid expenses and other current assets	614	119
Total current assets	123,445	89,280
Property and equipment, net	23	0
Operating lease right-of-use assets	607	0
Deferred offering costs	2,811	0
Other long-term assets	70	70
Total assets	126,956	89,350
Current liabilities
Accounts payable (includes related party amounts of $0 and $73, respectively)	2,669	1,058
Accrued expenses and other current liabilities (includes related party amounts of $389 and $3,272, respectively)	6,012	4,184
Current portion of lease liabilities	377	0
Total current liabilities	9,058	5,242
Lease liabilities, net of current portion	198	0
Other long-term liabilities	86	91
Total liabilities	9,342	5,333
Commitments and contingencies (Note 6)
Series A redeemable convertible preferred stock, $0.0001 par value	213,520	149,889
Stockholders’ deficit
Common stock, $0.0001 par value; 335,500,000 shares authorized at June 30, 2026 and December 31, 2025 (303,000,000 voting and 32,500,000 nonvoting); 15,943,937 shares issued at June 30, 2026 and December 31, 2025; and 7,535,986 and 6,685,088 shares outstanding at June 30, 2026 and December 31, 2025, respectively	1	1
Additional paid-in capital	0	179
Accumulated deficit	(95,907)	(66,052)
Total stockholders’ deficit	(95,906)	(65,872)
Total liabilities, redeemable convertible preferred stock, and stockholders’ deficit	126,956	89,350
Series A redeemable convertible preferred stock
Current liabilities
Series A redeemable convertible preferred stock, $0.0001 par value	187,845	124,214
Non-Voting Series A redeemable convertible preferred stock
Current liabilities
Series A redeemable convertible preferred stock, $0.0001 par value	$ 25,675	$ 25,675

Condensed Statement of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses
Research and development (includes related party amounts of $389 and $6,389 for the three and six months ended June 30, 2026, respectively)	$ 11,125	$ 0	$ 22,039	$ 0
In-process research and development	0	354	0	448
General and administrative (includes nominal related party amounts for the three and six months ended June 30, 2026, respectively)	4,757	27	8,892	32
Total operating expenses	15,882	381	30,931	480
Loss from operations	(15,882)	(381)	(30,931)	(480)
Other income
Interest income	889	0	1,660	0
Other income	5	0	3	0
Total other income	894	0	1,663	0
Net loss	(14,988)	(381)	(29,268)	(480)
Less: deemed dividend to preferred stockholders	(3,615)	0	(3,615)	0
Net loss attributed to common stockholders	(18,603)	(381)	(32,883)	(480)
Net loss attributed to common stockholders	$ (18,603)	$ (381)	$ (32,883)	$ (480)
Net loss per share, basic (in dollars per share)	$ (2.51)	$ (0.14)	$ (4.61)	$ (0.34)
Net loss per share, diluted (in dollars per share)	$ (2.51)	$ (0.14)	$ (4.61)	$ (0.34)
Weighted-average shares of common stock outstanding, basic (in shares)	7,401,783	2,792,409	7,133,871	1,403,918
Weighted-average shares of common stock outstanding, diluted (in shares)	7,401,783	2,792,409	7,133,871	1,403,918

Convertible Preferred Stock and Stockholders’ Deficit

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Convertible Preferred Stock and Stockholders’ Deficit

Convertible Preferred Stock

Redeemable Convertible Preferred Stock

During the six months ended June 30, 2026, the Company issued 60,000,000 shares of Series A redeemable convertible preferred stock in connection with the Series A Tranche Right described below, for gross proceeds of $60.0 million.

As of June 30, 2026, the Company’s Series A redeemable convertible preferred stock consisted of the following (in thousands, except share amounts):


	June 30, 2026
	Shares Authorized	Shares Issued and Outstanding	Shares of Common Stock issuable upon conversion	Aggregate Liquidation Preference		Carrying Value
Series A redeemable convertible preferred stock	185,000,000	185,000,000	42,237,441	$	185,000	$	187,845
Non-Voting Series A redeemable convertible preferred stock	32,500,000	32,500,000	7,420,091	32,500		25,675
Total Series A redeemable convertible preferred stock	217,500,000	217,500,000	49,657,532	$	217,500	$	213,520

Series A Tranche Right

The Series A Preferred Stock Purchase Agreement granted certain investors the right to purchase an additional 60,000,000 shares of Series A redeemable convertible preferred stock at a price of $1.00 per share during a third closing, upon approval by the Board of Directors. This third closing occurred on April 24, 2026, and the Company received $60.0 million in gross proceeds. In connection with this additional closing, the Company recorded a deemed dividend of $3.6 million, representing the excess of the estimated fair value of the Series A redeemable convertible preferred stock issued over the $1.00 per share purchase price. The deemed dividend increased the carrying value of the Series A redeemable convertible preferred stock and increased net loss attributable to common stockholders in the computation of net loss per share (Note 9).

Common Stock

As of June 30, 2026, the Company was authorized to issue 335,500,000 shares of $0.0001 par value common stock. As of June 30, 2026, 15,943,937 shares were issued and 7,535,986 shares were outstanding.

Common stock reserved for future issuance consisted of the following:


			June 30, 2026
Common stock issuable upon conversion of Series A redeemable convertible preferred stock			49,657,532
Unvested restricted common stock			8,407,951
Common stock options granted and outstanding			2,478,299
Shares available for issuance under the 2025 equity incentive plan			1,764,553
Total common stock reserved for issuance			62,308,335

- Definition

The entire disclosure for equity.

+ References

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+ Details

Balance Sheet Details

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Details

Deferred Offering Costs

Deferred offering costs of $2.8 million as of June 30, 2026 related to the Company’s completed IPO (Note 1), and consist of accounting and finance, audit, legal and filing fees. As of December 31, 2025, the Company had not capitalized any deferred offering costs.

Accrued Expenses and Other Current Liabilities

Accrued liabilities consist of the following (in thousands):


	June 30, 2026		December 31, 2025
Accrued licensing, related party	$	—	$	3,000
Accrued research and development	1,962		153
Accrued compensation related	1,540		315
Accrued professional services	1,066		370
Accrued clinical	780		—
Accrued deferred offering and issuance costs	663		272
Other accrued expenses	1		74
Total accrued expenses and other current liabilities	$	6,012	$	4,184

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and pursuant to the rules and regulations applicable to interim financial reporting. These condensed financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2025. The unaudited interim condensed financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. Such adjustments are of a normal recurring nature. The condensed results of operations for the six months ended June 30, 2026, are not necessarily indicative of the results to be expected for the full year ending December 31, 2026, or for any other future period. The condensed balance sheet as of December 31, 2025, has been derived from the audited financial statements as of that date.
Use of Estimates	Use of Estimates The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of income and expenses during the reporting periods. Significant estimates and assumptions are used for, but not limited to, the accruals for research and development expenses, stock-based compensation expense, the determination of fair value of equity instruments, the fair value of acquired in-process research and development, and income taxes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.
Operating Leases	Operating Leases Effective January 2026, the Company adopted ASC 842, Leases, in connection with the execution of its first lease agreement (see Note 6). The Company determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset during the lease term, and operating lease liabilities represent the Company’s obligation to make lease payments. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the remaining lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term.
Property and Equipment	Property and Equipment Property and equipment, net consists of lab equipment, computer equipment, furniture and fixtures, and leasehold improvements, which are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets (three to seven years, or, for leasehold improvements, the shorter of the remaining lease term or the estimated useful life). Repairs and maintenance costs are expensed as incurred.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs, consisting of legal, accounting, and other third-party fees directly attributable to the Company’s anticipated initial public offering, are capitalized within deferred offering costs on the condensed balance sheet. As of June 30, 2026, and December 31, 2025, the Company had capitalized $2.8 million and zero respectively, of deferred offering costs. These costs will be offset against the proceeds of the offering in the third quarter of 2026 in connection with the IPO closing.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses. This ASU requires enhanced disaggregation of certain expense categories in the notes to the financial statements. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and the standard may be applied on either a prospective or retrospective basis. The Company is currently evaluating the impact of this standard on its financial statements.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

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+ Details

Commitment and Contingencies - Hengrui License Agreement – Contingent Obligations (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Sep. 03, 2025	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Loss Contingencies [Line Items]
Research and development		$ 11,125	$ 0	$ 22,039	$ 0
Flipping Transaction provision, period	18 months
Related Party
Loss Contingencies [Line Items]
Research and development		$ 389		6,389
Related Party \| License Agreement for Completed Manufacturing Technology Transfer Milestone
Loss Contingencies [Line Items]
Research and development				$ 6,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Related Party Transactions - Other Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	6 Months Ended
	Apr. 24, 2026	Jun. 30, 2026	Jun. 30, 2026
Related Party Transaction [Line Items]
Series A redeemable convertible preferred stock issued (in shares)	60,000,000	60,000,000	60,000,000
Purchase price (in dollars per share)	$ 1.00
Series A redeemable convertible preferred stock issued, value	$ 60.0		$ 60.0
Affiliated Entity \| Forbion
Related Party Transaction [Line Items]
Series A redeemable convertible preferred stock issued (in shares)	24,324,324
Series A redeemable convertible preferred stock issued, value	$ 24.3
Affiliated Entity \| OrbiMed
Related Party Transaction [Line Items]
Series A redeemable convertible preferred stock issued (in shares)	12,972,973
Series A redeemable convertible preferred stock issued, value	$ 13.0
Affiliated Entity \| AH Bio
Related Party Transaction [Line Items]
Series A redeemable convertible preferred stock issued (in shares)	12,972,973
Series A redeemable convertible preferred stock issued, value	$ 13.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

+ References + Details

- Definition

Value of new stock classified as temporary equity issued during the period.

+ References

+ Details

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2026
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Financial Accounting Standards Board (FASB) ASC 850, Related Party Disclosures (FASB ASC 850) requires that transactions with related parties that would make a difference in decision making shall be disclosed so that users of the financial statements can evaluate their significance. Hengrui Pharmaceuticals Exclusive License Agreement The Company entered into an Exclusive License Agreement (the “License Agreement”) with Jiangsu Hengrui Pharmaceuticals Co., Ltd. (“Hengrui”) in September 2025, as described in the Company’s audited financial statements for the year ended December 31, 2025. During the six months ended June 30, 2026, the Company incurred related party expenses of $6.0 million in connection with the License Agreement for the completed manufacturing technology transfer milestone, which was recorded within research and development expense on the condensed statement of operations and comprehensive loss, and was paid as of June 30, 2026. During the six months ended June 30, 2026, the Company also incurred related party expenses of $0.4 million for drug supply purchases from Hengrui, which was recorded within research and development expense on the condensed statement of operations and comprehensive loss and within accrued expenses on the condensed balance sheet. As of June 30, 2026, the accrued license milestone of $3.0 million recorded as of December 31, 2025 has been paid. Other Related Party Transactions On April 24, 2026, the Company sold an additional 60,000,000 shares of its Series A redeemable convertible preferred stock at a purchase price of $1.00 per share and received $60.0 million in gross proceeds as part of an additional closing (refer to Note 7). As part of this additional closing, the Company’s existing stockholders, Forbion Growth Opportunities Fund III Coöperatief U.A. and Forbion Ventures Fund VII Coöperatief U.A. (collectively, “Forbion”), OrbiMed Private Investments IX, LP (“OrbiMed”) and AH Bio Fund IV, L.P. (“AH Bio”) purchased 24,324,324, 12,972,973 and 12,972,973 shares of Series A redeemable convertible preferred stock, respectively, for purchase prices of $24.3 million, $13.0 million and $13.0 million, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
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-Topic 850
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/850/tableOfContent

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Condensed Statement of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (29,268)	$ (480)
Adjustments to reconcile net loss to net cash used in operations:
Acquired in-process research and development	0	448
Depreciation and amortization	5	0
Stock-based compensation	2,846	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(462)	(8)
Accounts payable	936	0
Accrued expenses and other current liabilities (includes related party amounts of $389 and $0, respectively)	3,912	40
Operating lease right-of-use asset and lease liabilities	(105)	0
Net cash used in operating activities	(22,136)	0
Cash flows from investing activities:
Cash paid for purchased in-process research and development (includes related party amounts of $3,000 and $0, respectively)	(3,000)	0
Purchase of property and equipment	(28)	0
Net cash used in investing activities	(3,028)	0
Cash flows from financing activities:
Proceeds from issuance of common stock	0	2
Proceeds from issuance of Series A redeemable convertible preferred stock, net of issuance costs	59,596	0
Payments for deferred offering costs	(762)	0
Net cash provided by financing activities	58,834	2
Net increase in cash and cash equivalents for the period	33,670	2
Cash and cash equivalents at beginning of the period	89,161	0
Cash and cash equivalents at end of the period	122,831	2
Non-cash investing and financing activities:
Right-of-use assets obtained in connection with operating lease obligations	795	0
Deferred offering costs in accounts payable and accrued liabilities	2,050	0
Non-cash deemed dividends on Series A redeemable convertible preferred stock	$ 3,615	$ 0

Condensed Statement of Redeemable Convertible Preferred Stock and Stockholders’ Deficit (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024		0
Beginning balance at Dec. 31, 2024	$ 0	$ 0	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(99)			(99)
Ending balance (in shares) at Mar. 31, 2025		0
Ending balance at Mar. 31, 2025	(99)	$ 0	0	(99)
Beginning balance (in shares) at Dec. 31, 2024		0
Beginning balance at Dec. 31, 2024	0	$ 0	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(480)
Ending balance (in shares) at Jun. 30, 2025		4,794,513
Ending balance at Jun. 30, 2025	(477)	$ 1	2	(480)
Beginning balance (in shares) at Mar. 31, 2025		0
Beginning balance at Mar. 31, 2025	(99)	$ 0	0	(99)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of founders shares (in shares)		4,794,513
Issuance of founders shares	3	$ 1	2
Net loss	(381)			(381)
Ending balance (in shares) at Jun. 30, 2025		4,794,513
Ending balance at Jun. 30, 2025	$ (477)	$ 1	2	(480)
Beginning balance (in shares) at Dec. 31, 2025	157,500,000
Beginning balance at Dec. 31, 2025	$ 149,889
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance costs of Series A redeemable convertible preferred stock	$ (4)
Ending balance (in shares) at Mar. 31, 2026	157,500,000
Ending balance at Mar. 31, 2026	$ 149,885
Beginning balance (in shares) at Dec. 31, 2025	6,685,088	6,685,088
Beginning balance at Dec. 31, 2025	$ (65,872)	$ 1	179	(66,052)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted common stock (in shares)		274,936
Vesting of restricted common stock	2		2
Stock-based compensation	1,758		1,758
Net loss	(14,280)			(14,280)
Ending balance (in shares) at Mar. 31, 2026		6,960,024
Ending balance at Mar. 31, 2026	$ (78,392)	$ 1	1,939	(80,332)
Beginning balance (in shares) at Dec. 31, 2025	157,500,000
Beginning balance at Dec. 31, 2025	$ 149,889
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Series A redeemable convertible preferred stock, net of nominal issuance costs (in shares)	60,000,000
Ending balance (in shares) at Jun. 30, 2026	217,500,000
Ending balance at Jun. 30, 2026	$ 213,520
Beginning balance (in shares) at Dec. 31, 2025	6,685,088	6,685,088
Beginning balance at Dec. 31, 2025	$ (65,872)	$ 1	179	(66,052)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (29,268)
Ending balance (in shares) at Jun. 30, 2026	7,535,986	7,535,986
Ending balance at Jun. 30, 2026	$ (95,906)	$ 1	0	(95,907)
Beginning balance (in shares) at Mar. 31, 2026	157,500,000
Beginning balance at Mar. 31, 2026	$ 149,885
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Series A redeemable convertible preferred stock, net of nominal issuance costs (in shares)	60,000,000
Issuance of Series A redeemable convertible preferred stock, net of nominal issuance costs	$ 63,635
Ending balance (in shares) at Jun. 30, 2026	217,500,000
Ending balance at Jun. 30, 2026	$ 213,520
Beginning balance (in shares) at Mar. 31, 2026		6,960,024
Beginning balance at Mar. 31, 2026	(78,392)	$ 1	1,939	(80,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deemed dividends on issuance of Series A redeemable convertible preferred stock	(3,615)		(3,028)	(587)
Vesting of restricted common stock (in shares)		575,962
Vesting of restricted common stock	1		1
Stock-based compensation	1,088		1,088
Net loss	$ (14,988)			(14,988)
Ending balance (in shares) at Jun. 30, 2026	7,535,986	7,535,986
Ending balance at Jun. 30, 2026	$ (95,906)	$ 1	$ 0	$ (95,907)

Condensed Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Statement [Line Items]
Accounts payable	$ 2,669	$ 1,058
Accrued expenses and other current liabilities	$ 6,012	$ 4,184
Redeemable convertible preferred stock, shares authorized (in shares)	217,500,000
Redeemable convertible preferred stock, shares issued (in shares)	217,500,000
Redeemable convertible preferred stock, shares outstanding (in shares)	217,500,000	157,500,000
Redeemable convertible preferred stock, liquidation preference	$ 217,500
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	335,500,000	335,500,000
Common stock, shares issued (in shares)	15,943,937	15,943,937
Common stock, shares outstanding (in shares)	7,535,986	6,685,088
Series A redeemable convertible preferred stock
Statement [Line Items]
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, shares authorized (in shares)	185,000,000	185,000,000
Redeemable convertible preferred stock, shares issued (in shares)	185,000,000	125,000,000
Redeemable convertible preferred stock, shares outstanding (in shares)	185,000,000	125,000,000
Redeemable convertible preferred stock, liquidation preference	$ 185,000	$ 125,000
Non-Voting Series A redeemable convertible preferred stock
Statement [Line Items]
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, shares authorized (in shares)	32,500,000	32,500,000
Redeemable convertible preferred stock, shares issued (in shares)	32,500,000	32,500,000
Redeemable convertible preferred stock, shares outstanding (in shares)	32,500,000	32,500,000
Redeemable convertible preferred stock, liquidation preference	$ 32,500	$ 32,500
Voting Common Stock
Statement [Line Items]
Common stock, shares authorized (in shares)	303,000,000	303,000,000
Nonvoting Common Stock
Statement [Line Items]
Common stock, shares authorized (in shares)	32,500,000	32,500,000
Related Party
Statement [Line Items]
Accounts payable	$ 0	$ 73
Accrued expenses and other current liabilities	$ 389	$ 3,272

Net loss per share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Numerator:
Net loss	$	(14,988)	$	(381)	$	(29,268)	$	(480)
Less: deemed dividend to preferred stockholders	(3,615)		—		(3,615)		—
Net loss attributable to common stockholders	$	(18,603)	$	(381)	$	(32,883)	$	(480)
Denominator:
Weighted-average common shares issued	15,948,961		2,792,409		15,947,543		1,403,918
Less: Weighted-average common shares subject to repurchase and vesting conditions	(8,547,179)		—		(8,813,672)		—
Weighted-average shares used to compute net loss per share, basic and diluted	7,401,783		2,792,409		7,133,871		1,403,918
Net loss per share attributable to common stockholders, basic and diluted	$	(2.51)	$	(0.14)	$	(4.61)	$	(0.34)

Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share


			As of June 30, 2026
Common stock options outstanding(1)			2,470,452
Unvested restricted common stock			8,407,951
Common stock issuable upon conversion of Series A redeemable convertible preferred stock			49,657,532
Total			60,535,935

______________

Convertible Preferred Stock and Stockholders’ Deficit (Tables)

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Schedule of Series A Redeemable Convertible Preferred Stock

As of June 30, 2026, the Company’s Series A redeemable convertible preferred stock consisted of the following (in thousands, except share amounts):


	June 30, 2026
	Shares Authorized	Shares Issued and Outstanding	Shares of Common Stock issuable upon conversion	Aggregate Liquidation Preference		Carrying Value
Series A redeemable convertible preferred stock	185,000,000	185,000,000	42,237,441	$	185,000	$	187,845
Non-Voting Series A redeemable convertible preferred stock	32,500,000	32,500,000	7,420,091	32,500		25,675
Total Series A redeemable convertible preferred stock	217,500,000	217,500,000	49,657,532	$	217,500	$	213,520

Schedule of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following:


			June 30, 2026
Common stock issuable upon conversion of Series A redeemable convertible preferred stock			49,657,532
Unvested restricted common stock			8,407,951
Common stock options granted and outstanding			2,478,299
Shares available for issuance under the 2025 equity incentive plan			1,764,553
Total common stock reserved for issuance			62,308,335

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesAs of June 30, 2026, there have been no material changes to the Company’s uncertain tax positions or its assessment regarding the realizability of its deferred tax assets as compared to December 31, 2025. The Company continues to maintain a full valuation allowance on its net deferred tax assets as it has determined that it is more likely than not that these deferred tax assets will not be realized. For the three and six months ended June 30, 2026, the Company’s effective tax rate differed from the U.S. federal statutory rate of 21% primarily due to the full valuation allowance maintained against its deferred tax assets.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Equity Incentive Plan and Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the six months ended June 30, 2026, under the 2025 Plan is as follows (in thousands, except share and per share data and years):


	Options Outstanding	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance at December 31, 2025	320,773	$	0.05
Granted	2,248,850	2.37
Exercised	—	—
Forfeited	(91,324)	0.05
Balance at June 30, 2026	2,478,299	$	2.15	9.76	$	2,272
Vested and exercisable at June 30, 2026	9,987	$	0.43	9.48	$	26

Schedule of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense related to stock options as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Research and development	$	0.1	$	—	$	0.2	$	—
General and administrative	—		—		—		—
Total stock-based compensation expense	$	0.1	$	—	$	0.2	$	—

The Company recorded stock-based compensation expense related to RSAs as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Research and development	$	0.1	$	—	$	0.3	$	—
General and administrative	0.8		—		2.3		—
Total stock-based compensation expense	$	0.9	$	—	$	2.6	$	—

Schedule of Assumptions in Fair Value of Options

The assumptions used in the Black-Scholes option pricing model to determine the fair value of the option grants issued for the six months ended June 30, 2026, were as follows:


	June 30, 2026
Risk-free rate of interest	3.77% - 4.26%
Expected term (years)	6.02 - 6.08
Expected stock price volatility	79.45% - 82.67%
Dividend yield	—	%

Schedule of Restricted Stock Activity

A summary of the Company’s restricted stock activity under the 2025 Plan for the six months ended June 30, 2026, is as follows:


	Number of Shares Outstanding	Weighted-Average Grant Date Fair Value
Balance at December 31, 2025	8,442,641	$	0.43
Issuance of unvested restricted stock awards	—	—
Share Vesting	(850,898)	0.90
Balance at June 30, 2026	7,591,743	$	1.02

A summary of the Company’s restricted stock activity outside of the 2025 Plan for the six months ended June 30, 2026, is as follows:


	Number of Shares Outstanding	Weighted-Average Grant Date Fair Value
Balance at December 31, 2025	816,208	$	—
Issuance of unvested restricted stock awards	—	—
Share vesting	—	–
Balance at June 30, 2026	816,208	$	1.93

Condensed Statement of Operations and Comprehensive Loss (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement [Line Items]
Research and development	$ 11,125	$ 0	$ 22,039	$ 0
Related Party
Statement [Line Items]
Research and development	$ 389		$ 6,389

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Related Party Transactions - Hengrui Pharmaceuticals Exclusive License Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Research and development	$ 11,125	$ 0	$ 22,039	$ 0
Accrued license milestone	0		0		$ 3,000
Related Party
Related Party Transaction [Line Items]
Research and development	$ 389		6,389
Related Party \| License Agreement for Completed Manufacturing Technology Transfer Milestone
Related Party Transaction [Line Items]
Research and development			6,000
Related Party \| Drug Supply Purchases
Related Party Transaction [Line Items]
Research and development			$ 400

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Subsequent Events - Initial Public Offering (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 07, 2026	Aug. 06, 2026	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025
Subsequent Event [Line Items]
Redeemable convertible preferred stock, shares outstanding (in shares)			217,500,000	157,500,000	157,500,000
Common stock, shares authorized (in shares)			335,500,000		335,500,000
Common stock, par value (in dollars per share)			$ 0.0001		$ 0.0001
Subsequent Event
Subsequent Event [Line Items]
Number of common stock issued upon conversion of redeemable convertible preferred stock (in shares)		49,657,532
Redeemable convertible preferred stock, shares outstanding (in shares)	0
Common stock, shares authorized (in shares)	500,000,000
Common stock, par value (in dollars per share)	$ 0.0001
Undesignated preferred stock (in shares)	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.0001
Subsequent Event \| IPO
Subsequent Event [Line Items]
Number of shares sold (in shares)	24,437,500
Offering price (in dollars per share)	$ 18.00
Aggregate gross proceeds	$ 404.5

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false