OnKure Therapeutics (OKUR) S-1 23 Oct 24 IPO registration Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2024
Entity Addresses [Line Items]
Document Type	S-1
Entity Registrant Name	ONKURE THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2309515
Entity Address, Address Line One	6707 Winchester Circle, #400
Entity Address, City or Town	Boulder
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	80301
City Area Code	720
Local Phone Number	307-2892
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001637715
Amendment Flag	false
Entity Primary SIC Number	2834
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	6707 Winchester Circle, #400
Entity Address, City or Town	Boulder
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	80301
City Area Code	720
Local Phone Number	307-2892
Contact Personnel Name	Nicholas A. Saccomano

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 18,633	$ 29,876	$ 11,543
Prepaid clinical trials	1,494	3,192	1,240
Prepaid expenses and other current assets	5,163	3,890	840
Total current assets	23,796	33,766	13,623
Property and equipment, net	1,223	1,432	1,604
Operating lease right-of-use asset	405	478	443
Other Assets	49	58	329
Total assets	25,473	35,734	15,999
Current liabilities:
Accounts payable	8,261	3,417	2,520
Accrued expenses	4,507	3,660	2,871
Operating lease liabilities, current portion	216	208	151
Total current liabilities	12,984	7,285	5,542
Convertible notes payable, net of debt issuance costs	5,858	0
Operating lease liability, net of current portion	357	466	486
Other long-term liabilities	26	0
Total liabilities	19,225	7,751	6,028
Commitments and contingencies
Convertible preferred stock		129,825	64,389
Stockholders' equity (deficit):
Additional paid-in capital	2,148	208	2,655
Accumulated deficit	(125,726)	(102,051)	(57,074)
Total stockholders' deficit	(123,577)	(101,842)	(54,418)
Total liabilities, convertible preferred stock, and stockholders' deficit	25,473	35,734	15,999
Series C Preferred Stock [Member]
Current liabilities:
Convertible preferred stock	129,825	129,825	0
Common Class A [Member]
Stockholders' equity (deficit):
Common stocks	1	1	1
Common Class B [Member]
Stockholders' equity (deficit):
Common stocks	0	0	0
RENEO PHARMACEUTICALS INC [Member]
Current assets:
Cash and cash equivalents	35,970	27,632	19,927
Short-term investments	40,704	75,331	81,246
Prepaid expenses and other current assets	1,316	3,659	5,180
Total current assets	77,990	106,622	106,353
Property and equipment, net	81	134	453
Operating lease right-of-use asset	493	599	1,292
Other non-current assets	153	81	84
Total assets	78,717	107,436	108,182
Current liabilities:
Accounts payable	64	8,717	1,893
Accrued expenses	953	9,129	4,827
Operating lease liabilities, current portion	331	331	404
Total current liabilities	1,348	18,177	7,124
Operating lease liability, net of current portion	492	642	1,059
Performance award	8	7	29
Total liabilities	1,848	18,826	8,212
Commitments and contingencies
Stockholders' equity (deficit):
Common stocks	0	0	0
Additional paid-in capital	309,143	307,076	236,696
Accumulated deficit	(232,261)	(218,474)	(136,683)
Accumulated other comprehensive (loss) income	(13)	8	(43)
Total stockholders' deficit	76,869	88,610	99,970
Total liabilities, convertible preferred stock, and stockholders' deficit	$ 78,717	$ 107,436	$ 108,182

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Common stock, authorized		87,589,983
Convertible preferred stock par or stated value per share	$ 0.0001	$ 0.0001
Convertible preferred stock shares authorized	51,141,064	51,141,064	25,828,896
Convertible preferred stock shares issued	47,243,806	47,243,806
Convertible preferred stock shares outstanding	47,243,806	47,243,806
Convertible preferred stock liquidation preference value	$ 195,823	$ 195,823
Common Class A [Member]
Common stock, Par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, authorized	78,000,000	78,000,000	40,000,000
Common stock, issued	13,386,958	13,296,584	7,745,744
Common stock, outstanding	13,386,958	13,296,584	7,745,744
Common Class B [Member]
Common stock, Par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, authorized	9,589,983	9,589,983	9,589,983
Common stock, issued	0	0
Common stock, outstanding	0	0
RENEO PHARMACEUTICALS INC [Member]
Common stock, Par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, authorized	200,000,000	200,000,000	200,000,000
Common stock, issued	3,342,080	3,342,080	2,469,955
Common stock, outstanding	3,342,080	3,342,080	2,469,955

Statements Of Operations And Co

Statements Of Operations And Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Operating expenses:
Research and development	$ 10,752		$ 7,514	$ 19,318	$ 15,037	$ 32,115	$ 25,862
General and administrative	3,591		1,120	4,857	2,349	4,819	3,904
Total operating expenses	14,343		8,634	24,175	17,386	36,934	29,766
Loss from operations	(14,343)		(8,634)	(24,175)	(17,386)	(36,934)	(29,766)
Other income and (expense):
Interest income	230		451	526	524	1,623	254
Interest expense	(26)		0	(26)	0
Total other income	204		451	500	524	1,623	254
Net loss and comprehensive loss	$ (14,139)	$ (9,536)	$ (8,183)	$ (23,675)	$ (16,862)	(35,311)	(29,512)
Net loss per share attributable to common stockholders, basic	$ (1.06)		$ (0.62)	$ (1.77)	$ (1.56)
Net loss per share attributable to common stockholders, diluted	$ (1.06)		$ (0.62)	$ (1.77)	$ (1.56)
Weighted-average shares used in computing net loss per share, basic	13,370,466		13,265,671	13,339,473	10,791,145
Weighted-average shares used in computing net loss per share, diluted	13,370,466		13,265,671	13,339,473	10,791,145
RENEO PHARMACEUTICALS INC [Member]
Operating expenses:
Research and development	$ 590		$ 14,400	$ 5,533	$ 25,389	56,613	37,705
General and administrative	5,774		6,639	10,396	11,771	26,440	16,143
Total operating expenses	6,364		21,039	15,929	37,160	83,053	53,848
Loss from operations	(6,364)		(21,039)	(15,929)	(37,160)	(83,053)	(53,848)
Other income and (expense):
Total other income	1,003		1,508	2,142	2,522	5,665	1,893
Net loss and comprehensive loss	(5,361)	$ (8,426)	(19,531)	(13,787)	(34,638)	(77,388)	(51,955)
Unrealized gain (loss) on short-term investments	(1)		(43)	(21)	12	51	(77)
Comprehensive loss	$ (5,362)		$ (19,574)	$ (13,808)	$ (34,626)	$ (77,337)	$ (52,032)
Net loss per share attributable to common stockholders, basic	$ (1.6)		$ (6.46)	$ (4.13)	$ (12.53)	$ 25.23	$ 21.21
Net loss per share attributable to common stockholders, diluted	$ (1.6)		$ (6.46)	$ (4.13)	$ (12.53)	$ 25.23	$ 21.21
Weighted-average shares used in computing net loss per share, basic		3,342,080	3,021,532	3,342,080	2,764,017	3,067,645	2,449,642
Weighted-average shares used in computing net loss per share, diluted	3,342,080		3,021,532	3,342,080	2,764,017	3,067,645	2,449,642

Statements Of Changes In Conver

Statements Of Changes In Convertible Preferred Stock And Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Class A [Member]	Class A Common Stock and Series C Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Class A Common Stock and Series C Preferred Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Common Class A [Member]	Additional Paid-in Capital [Member] Class A Common Stock and Series C Preferred Stock [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] Class A Common Stock and Series C Preferred Stock [Member]	Convertible Preferred Stock [Member]	Convertible Preferred Stock [Member] Preferred Stock [Member]	Convertible Preferred Stock [Member] Preferred Stock [Member] Class A Common Stock and Series C Preferred Stock [Member]	RENEO PHARMACEUTICALS INC [Member]	RENEO PHARMACEUTICALS INC [Member] Public Offering [Member]	RENEO PHARMACEUTICALS INC [Member] At The Market Facility [Member]	RENEO PHARMACEUTICALS INC [Member] Private Placement [Member]	RENEO PHARMACEUTICALS INC [Member] Common Stock [Member]	RENEO PHARMACEUTICALS INC [Member] Common Stock [Member] Public Offering [Member]	RENEO PHARMACEUTICALS INC [Member] Common Stock [Member] At The Market Facility [Member]	RENEO PHARMACEUTICALS INC [Member] Common Stock [Member] Private Placement [Member]	RENEO PHARMACEUTICALS INC [Member] Additional Paid-in Capital [Member]	RENEO PHARMACEUTICALS INC [Member] Additional Paid-in Capital [Member] Public Offering [Member]	RENEO PHARMACEUTICALS INC [Member] Additional Paid-in Capital [Member] At The Market Facility [Member]	RENEO PHARMACEUTICALS INC [Member] Additional Paid-in Capital [Member] Private Placement [Member]	RENEO PHARMACEUTICALS INC [Member] AOCI Attributable to Parent [Member]	RENEO PHARMACEUTICALS INC [Member] Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2021	$ (25,294)			$ 1			$ 2,267			$ (27,562)			$ 38,264		$ 147,211				$ 0				$ 231,905				$ 34	$ (84,728)
Convertible Preferred Stock Beginning Balance (in shares) at Dec. 31, 2021													15,870,584
Beginning Balance (in shares) at Dec. 31, 2021				6,917,439															2,445,539
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		$ 340						$ 340					$ 26,125				$ 193								$ 193
Issuance of stock (in shares)					828,305								9,951,868								9,208
Issuance of common stock in connection with equity plans															278								278
Issuance of common stock in connection with equity plans (in shares)																			15,208
Other comprehensive income (loss)															(77)												(77)
Share-based compensation expense	48						48								4,320								4,320
Net loss	(29,512)									(29,512)					(51,955)													(51,955)
Ending Balance at Dec. 31, 2022	(54,418)			$ 1			2,655			(57,074)			$ 64,389		99,970				$ 0				236,696				(43)	(136,683)
Convertible Preferred Stock Ending Balance (in shares) at Dec. 31, 2022												25,822,452	25,822,452
Ending Balance (in shares) at Dec. 31, 2022				7,745,744															2,469,955
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		41	$ (12,377)					41	$ (2,711)		$ (9,666)		$ 53,068	$ 12,376			1,009								1,009
Issuance of stock (in shares)					96,666	5,402,428							19,463,456	1,957,898							40,787
Other comprehensive income (loss)															55												55
Share-based compensation expense	15						15								1,157								1,157
Net loss	(8,679)									(8,679)					(15,107)													(15,107)
Ending Balance at Mar. 31, 2023	(75,418)			$ 1						(75,419)			$ 129,833		87,084				$ 0				238,862				12	(151,790)
Convertible Preferred Stock Ending Balance (in shares) at Mar. 31, 2023													47,243,806
Ending Balance (in shares) at Mar. 31, 2023				13,244,838															2,510,742
Beginning Balance at Dec. 31, 2022	(54,418)			$ 1			2,655			(57,074)			$ 64,389		99,970				$ 0				236,696				(43)	(136,683)
Convertible Preferred Stock Beginning Balance (in shares) at Dec. 31, 2022												25,822,452	25,822,452
Beginning Balance (in shares) at Dec. 31, 2022				7,745,744															2,469,955
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(16,862)														(34,638)
Ending Balance at Jun. 30, 2023	(83,579)			$ 1			22			(83,602)			$ 129,825		132,528				$ 0				303,880				(31)	(171,321)
Convertible Preferred Stock Ending Balance (in shares) at Jun. 30, 2023													47,243,806
Ending Balance (in shares) at Jun. 30, 2023				13,255,671															3,380,077
Beginning Balance at Dec. 31, 2022	(54,418)			$ 1			2,655			(57,074)			$ 64,389		99,970				$ 0				236,696				(43)	(136,683)
Convertible Preferred Stock Beginning Balance (in shares) at Dec. 31, 2022												25,822,452	25,822,452
Beginning Balance (in shares) at Dec. 31, 2022				7,745,744															2,469,955
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		65	$ (12,377)					65	$ (2,711)		$ (9,666)		$ 53,059	$ 12,377		$ 58,862	$ 1,009	$ 4,667						$ 58,862	$ 1,009	$ 4,667
Issuance of stock (in shares)					148,412	5,402,428							19,463,456	1,957,898						790,625	40,787	62,500
Issuance of common stock in connection with equity plans															730								730
Issuance of common stock in connection with equity plans (in shares)																			35,857
Other comprehensive income (loss)															51												51
Share-based compensation expense	199						199								5,112								5,112
Net loss	(35,311)									(35,311)					(77,388)													(77,388)
Repurchase and retirement of common stock in connection with common stock repurchase agreement (in shares)																			(57,644)
Repurchase and retirement of common stock in connection with common stock repurchase agreement															(4,403)													(4,403)
Ending Balance at Dec. 31, 2023	(101,842)			$ 1			208			(102,051)			$ 129,825		88,610				$ 0				307,076				8	(218,474)
Convertible Preferred Stock Ending Balance (in shares) at Dec. 31, 2023													47,243,806
Ending Balance (in shares) at Dec. 31, 2023				13,296,584															3,342,080
Beginning Balance at Mar. 31, 2023	(75,418)			$ 1						(75,419)			$ 129,833		87,084				$ 0				238,862				12	(151,790)
Convertible Preferred Stock Beginning Balance (in shares) at Mar. 31, 2023													47,243,806
Beginning Balance (in shares) at Mar. 31, 2023				13,244,838															2,510,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		5						5								$ 58,862		$ 4,667						$ 58,862		$ 4,667
Issuance of stock (in shares)					10,833															790,625		62,500
Issuance of common stock in connection with equity plans															282								282
Issuance of common stock in connection with equity plans (in shares)																			16,210
Other comprehensive income (loss)															(43)												(43)
Share-based compensation expense	17						17								1,207								1,207
Net loss	(8,183)									(8,183)					(19,531)													(19,531)
Ending Balance at Jun. 30, 2023	(83,579)			$ 1			22			(83,602)			$ 129,825		132,528				$ 0				303,880				(31)	(171,321)
Convertible Preferred Stock Ending Balance (in shares) at Jun. 30, 2023													47,243,806
Ending Balance (in shares) at Jun. 30, 2023				13,255,671															3,380,077
Beginning Balance at Dec. 31, 2023	(101,842)			$ 1			208			(102,051)			$ 129,825		88,610				$ 0				307,076				8	(218,474)
Convertible Preferred Stock Beginning Balance (in shares) at Dec. 31, 2023													47,243,806
Beginning Balance (in shares) at Dec. 31, 2023				13,296,584															3,342,080
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		10						10
Issuance of stock (in shares)					42,476
Other comprehensive income (loss)															(20)												(20)
Share-based compensation expense	107						107								1,078								1,078
Net loss	(9,536)									(9,536)					(8,426)													(8,426)
Ending Balance at Mar. 31, 2024	(111,261)			$ 1			325			(111,587)			$ 129,825		81,242				$ 0				308,154				(12)	(226,900)
Convertible Preferred Stock Ending Balance (in shares) at Mar. 31, 2024													47,243,806
Ending Balance (in shares) at Mar. 31, 2024				13,339,060															3,342,080
Beginning Balance at Dec. 31, 2023	(101,842)			$ 1			208			(102,051)			$ 129,825		88,610				$ 0				307,076				8	(218,474)
Convertible Preferred Stock Beginning Balance (in shares) at Dec. 31, 2023													47,243,806
Beginning Balance (in shares) at Dec. 31, 2023				13,296,584															3,342,080
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(23,675)														(13,787)
Ending Balance at Jun. 30, 2024	(123,577)			$ 1			2,148			(125,726)			$ 129,825		76,869				$ 0				309,143				(13)	(232,261)
Convertible Preferred Stock Ending Balance (in shares) at Jun. 30, 2024													47,243,806
Ending Balance (in shares) at Jun. 30, 2024				13,386,958															3,342,080
Beginning Balance at Mar. 31, 2024	(111,261)			$ 1			325			(111,587)			$ 129,825		81,242				$ 0				308,154				(12)	(226,900)
Convertible Preferred Stock Beginning Balance (in shares) at Mar. 31, 2024													47,243,806
Beginning Balance (in shares) at Mar. 31, 2024				13,339,060															3,342,080
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		$ 10						$ 10
Issuance of stock (in shares)					47,898
Other comprehensive income (loss)															(1)												(1)
Share-based compensation expense	1,813						1,813								989								989
Net loss	(14,139)									(14,139)					(5,361)													(5,361)
Ending Balance at Jun. 30, 2024	$ (123,577)			$ 1			$ 2,148			$ (125,726)			$ 129,825		$ 76,869				$ 0				$ 309,143				$ (13)	$ (232,261)
Convertible Preferred Stock Ending Balance (in shares) at Jun. 30, 2024													47,243,806
Ending Balance (in shares) at Jun. 30, 2024				13,386,958															3,342,080

Statements Of Changes In Conv_2

Statements Of Changes In Convertible Preferred Stock And Stockholders' Deficit (Parenthetical) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Series B Preferred Stock [Member]
Stock Issuance Cost Net			$ 1.4
Series C Preferred Stock [Member]
Stock Issuance Cost Net	$ 0.7	$ 0.7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (23,675)	$ (16,862)	$ (35,311)	$ (29,512)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	1,920	32	199	48
Depreciation and amortization	226	197	417	229
Amortization of right-of-use asset	73	86	143	158
Amortization of debt issuance costs	1	0
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(1,264)	547	(1,497)	(332)
Accounts payable, accrued and other liabilities	5,718	454	1,713	2,650
Lease liabilities	(101)	(100)	(210)	(194)
Net cash used in operating activities	(17,102)	(15,646)	(34,546)	(26,953)
Cash flows from investing activities:
Purchases of property and equipment	(19)	(71)	(246)	(1,134)
Net cash used in investing activities	(19)	(71)	(246)	(1,134)
Cash flows from financing activities:
Proceeds from the sale of Series C Preferred Stock	0	53,783	53,783	27,500
Payment of issuance costs associated with the issuance of Series C Preferred Stock	0	(724)
Payment of issuance costs associated with the issuance	(142)	0	(723)	(1,375)
Proceeds from the issuance of convertible notes payable	6,000	0
Proceeds from the issuance of common stock	20	47	65	340
Net cash provided by financing activities	5,878	53,106	53,125	26,465
Net increase (decrease) in cash and cash equivalents	(11,243)	37,389	18,333	(1,622)
Cash and cash equivalents at beginning of period	29,876	11,543	11,543	13,165
Cash and cash equivalents at end of period	18,633	48,932	29,876	11,543
Supplemental disclosure of non-cash financing activities:
Right-of-use assets obtained in exchange for lease obligations			219	562
Issuance of Series C Preferred Stock on conversion of prior Preferred Stock	0	23,313	23,313	0
RENEO PHARMACEUTICALS INC [Member]
Cash flows from operating activities:
Net loss	(13,787)	(34,638)	(77,388)	(51,955)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	2,067	2,364	5,112	4,320
Depreciation and amortization	28	83	170	88
Amortization of right-of-use asset	(1,644)	(2,011)	(4,777)	(817)
Changes in the fair value of performance award	1	847	(22)	(415)
Non-cash lease expense	129	241	355	441
Loss on disposal of fixed asset	27	3
Changes in operating assets and liabilities:
Prepaid expenses and other assets	2,360	1,542	1,524	878
Accounts payable, accrued and other liabilities	(16,829)	6,690	11,118	518
Lease liabilities	(173)	(283)	(424)	(437)
Net cash used in operating activities	(27,821)	(25,162)	(63,682)	(47,362)
Right-of-use and leasehold improvement impairment expenses			650	17
Cash flows from investing activities:
Purchases of property and equipment	(2)	(177)	(221)	(346)
Purchase of available-for-sale short-term investments	(67,750)	(132,327)	(231,257)	(101,596)
Proceeds from maturities of available-for-sale short-term investments	104,000	82,000	242,000	44,100
Net cash used in investing activities	36,248	(50,504)	10,522	(57,842)
Cash flows from financing activities:
Payments of deferred costs in connection with private placement transaction	(89)
Proceeds from private placement of common stock, net of offering costs		4,667	4,667	193
Proceeds from issuance of common stock in connection with equity plans		282	730	278
Repurchase of common stock in connection with common stock repurchase agreement			(4,403)
Net cash provided by financing activities	(89)	64,820	60,865	471
Net increase (decrease) in cash and cash equivalents	8,338	(10,846)	7,705	(104,733)
Cash and cash equivalents at beginning of period	27,632	19,927	19,927	124,660
Cash and cash equivalents at end of period	$ 35,970	9,081	27,632	19,927
Supplemental disclosure of non-cash financing activities:
Right-of-use assets obtained in exchange for lease obligations				$ 1,733
Property and equipment in accounts payable		10
RENEO PHARMACEUTICALS INC [Member] | Public Offering [Member]
Cash flows from financing activities:
Proceeds from the issuance of common stock		58,862	58,862
RENEO PHARMACEUTICALS INC [Member] | At-The-Market Facility [Member]
Cash flows from financing activities:
Proceeds from the issuance of common stock		$ 1,009	$ 1,009

Organization and Business

Organization and Business	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
RENEO PHARMACEUTICALS INC [Member]
Organization and Business	1. Organization and Business Organization Reneo Pharmaceuticals, Inc. (Reneo or the Company) is a pharmaceutical company historically focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate. The Company’s only product candidate, mavodelpar, is a potent and selective agonist of the peroxisome proliferator-activated receptor delta (PPAR d On December 14, 2023, the Company announced that its pivotal STRIDE study, a global, randomized, double-blind, placebo-controlled Phase 2b trial of mavodelpar in adult patients with primary mitochondria myopathy due to mitochondrial DNA defects, did not meet its primary or secondary efficacy endpoints. As a result, the Company suspended the development activities for mavodelpar and implemented cash preservation activities, including a substantial workforce reduction. The Company implemented a reduction in workforce in December 2023 and February 2024, and currently has eight full-time employees remaining. In January 2024, the Company’s Board of Directors retained an independent financial advisor to initiate a formal process to evaluate potential strategic alternatives focused on maximizing stockholder value, including, but not limited to, a merger, sale, other business combination, a strategic partnership with one or more parties, or the licensing, sale or divestiture of its assets. The Company is no longer pursuing further clinical development of mavodelpar at this time. On May 10, 2024, the Company entered into an Agreement and Plan of Merger (Merger Agreement and the transactions contemplated thereby, Proposed Transactions) with Radiate Merger Sub I, Inc., a Delaware corporation and its direct, wholly owned subsidiary (Merger Sub I), Radiate Merger Sub II, LLC, a Delaware limited liability company and its direct, wholly owned subsidiary (Merger Sub II), and OnKure, Inc., a Delaware corporation (OnKure), pursuant to which, and subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement, (a) Merger Sub I will merge with and into OnKure (the First Merger), with Merger Sub I ceasing to exist and OnKure surviving the First Merger as its wholly owned subsidiary (Reneo following the First Merger, NewCo), and (b) as promptly as practicable following the First Merger, OnKure, as the surviving corporation of the First Merger, will merge with and into Merger Sub II, with OnKure ceasing to exist and Merger Sub II surviving the Second Merger as a wholly owned subsidiary of NewCo (the Second Merger, and together with the First Merger, the Mergers). At the effective time of the First Merger (the First Effective Time) and upon filing of an amendment to the Company’s amended and restated certificate of incorporation to reclassify its common stock, each share of the Company’s common stock existing and outstanding immediately prior thereto will be recapitalized and remain outstanding as a share of NewCo Class A common stock without any conversion or exchange thereof, subject to a proposed reverse stock split of all of the shares of the Company’s common stock outstanding at the time of effectiveness thereof by a ratio to be determined by OnKure subject to the Company’s approval (the Reverse Stock Split). Upon the First Effective Time, all shares of OnKure capital stock outstanding immediately prior to the First Effective Time, after giving effect to an assumed common stock exchange ratio of 0.024482 and an assumed preferred stock exchange ratio of 0.150062, will be converted into the right to receive approximately 7,695,878 shares of NewCo common stock in the aggregate, which is subject to adjustment as set forth in the Merger Agreement. In connection with the Mergers, on May 10, 2024, the Company concurrently entered into a Subscription Agreement with certain existing OnKure stockholders and new investors (collectively, PIPE Investors) pursuant to which, among other things, the Company agreed to issue to the PIPE Investors shares of NewCo Class A common stock concurrently with the Mergers in a private placement transaction for an aggregate purchase price of $ 65.0 million, which amount may be increased to up to $85.0 million through additional subscriptions from additional PIPE Investors (the Concurrent PIPE Investments). The closing of the Concurrent PIPE Investments is conditioned upon the satisfaction or waiver of the conditions to the closing of the Mergers and the substantially concurrent closing of the Mergers, as well as certain other conditions. Immediately after the Mergers, pre-Mergers pre-Mergers pre-Mergers pre-Mergers pre-Mergers pre-Mergers pre-Mergers pre-Mergers pre-Mergers The Mergers, which have been approved by the Company’s Board of Directors and the board of directors of OnKure, are expected to close in the second half of 2024, subject to the satisfaction or waiver of certain closing conditions, including the approval of the Company’s stockholders. Certain stockholders of Reneo holding approximately 28.2% of the outstanding shares of its common stock entered into support agreements with Reneo and OnKure to vote all of their shares of the Company’s common stock in favor of the Mergers, subject to the terms of the support agreements. Although the Company has entered into the Merger Agreement and intends to consummate the proposed Mergers, there is no assurance that the Company will be able to successfully consummate the proposed Mergers on a timely basis, or at all. If, for any reason, the proposed Mergers are not completed, the Company will reconsider its strategic alternatives and could pursue another strategic transaction similar to the proposed Mergers, potential collaborative, partnering or other strategic arrangements for the Company’s assets, including a license, sale or divestiture of its assets, or liquidate and distribute available cash. Liquidity From its inception in 2014, the Company has incurred significant losses and negative cash flows from operations and expects to continue to incur net losses into the foreseeable future and may never become profitable. As of June 30, 2024, the Company had cash, cash equivalents and short-term investments of $76.7 million , which the Company believes will be sufficient to fund the Company’s current operating plan for at least the next 12 months from the date of issuance of these unaudited condensed financial statements. On October 4, 2024, the Company effected a 1-for-10 reverse stock split of its common stock. The par value and the authorized shares of the common stock were not adjusted as a result of the reverse stock split. The accompanying consolidated financial statements and notes to the consolidated financial statements give retroactive effect to the reverse stock split for all periods presented.	1. Organization and Business Organization Reneo Pharmaceuticals, Inc. (Reneo or the Company) commenced operations on September 22, 2014 as a pharmaceutical company and has historically focused on the development of therapies for patients with rare genetic mitochondrial diseases. In December 2017, the Company in-licensed d Risks and Uncertainties On December 14, 2023, the Company announced that its pivotal STRIDE study, a global, randomized, double-blind, placebo-controlled Phase 2b trial of mavodelpar in adult patients with primary mitochondria myopathy due to mitochondrial DNA defects, did not meet its primary or secondary efficacy endpoints. As a result, the Company suspended the development activities of its only product candidate, mavodelpar, and implemented cash preservation activities, including substantial workforce reduction. In December 2023, the Company implemented a workforce reduction and recognized approximately $2.5 million in severance and continuation of benefit expenses for the year ended December 31, 2023. The Company is subject to a number of risks similar to other pharmaceutical companies including, but not limited to, dependency on the clinical and commercial success of the Company’s potential product candidates, ability to obtain regulatory approval of any such potential product candidates, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians, consumers and third-party payors, significant competition and untested manufacturing capabilities, and dependence on key individuals and sole source suppliers. Liquidity From its inception in 2014, the Company has incurred significant losses and negative cash flows from operations and expects to continue to incur net losses into the foreseeable future and may never become profitable. As of December 31, 2023, the Company had cash, cash equivalents and short-term investments of $103.0 million to fund future operations. Since inception through December 31, 2023, the Company has funded its operations primarily through the issuance and sale of equity securities. Management has prepared cash flow forecasts which indicate that, based on the Company’s current cash resources available and working capital, the Company will have sufficient resources to fund its operations for at least one year after the date the consolidated financial statements are issued. Future capital requirements will depend on many factors, including the timing and extent of spending on its operations and there can be no assurance that the Company will be successful in obtaining additional funding, that the Company’s projections of its future working capital needs will prove accurate, or that any additional funding would be sufficient to continue operations in future years. If the Company is not able to secure adequate additional funding, the Company may be forced to make reductions in spending, extend payment terms with suppliers, liquidate assets where possible, and/or suspend or curtail planned programs. Any of these actions could negatively impact the Company’s business, results of operations, and future prospects. Public Offerings In May 2022, the Company entered into an at-the-market sell from time to time at its sole discretion, up to $20.0 million in shares of its common stock. On November 13, 2023, concurrent with entering into the In May 2023, the Company completed a public offering in which it sold an aggregate of 790,625 shares of common stock, which included the full exercise of the underwriters’ option to purchase an additional 103,125 shares of common stock, at a price of $80.00 per share. The Company received total net proceeds from the offering of approximately $58.9 million, after deducting underwriting discounts and commissions and offering expenses. Also, in May 2023, the Company completed a concurrent private placement in which it sold an aggregate of 62,500 shares of common stock to Abingworth Bioventures 8 L.P., a holder of more than 5% of the Company’s common stock, at a price of $80.00 per share. The Company received total net proceeds of approximately $4.7 million, after deducting advisor fees and other estimated fees and expenses. On November 13, 2023, the Company entered into an at-the-market of On October 4, 2024, the Company effected a 1-for-10 reverse stock split of its common stock. The par value and the authorized shares of the common stock were not adjusted as a result of the reverse stock split. The accompanying consolidated financial statements and notes to the consolidated financial statements give retroactive effect to the reverse stock split for all periods presented.

Description of Business

Description of Business	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	(1) DESCRIPTION OF BUSINESS OnKure, Inc. (“OnKure” or the “Company”) is a clinical-stage biopharmaceutical company focused on the discovery and development of precision medicines that target biologically validated drivers of cancers that are underserved by available therapies. Using a structure- and computational chemistry-driven drug design platform, OnKure is committed to improving clinical outcomes for patients by building a robust pipeline of small molecule drugs designed to selectively target specific mutations thought to be key drivers of cancer. Liquidity and Capital Resources The Company had recurring losses from operations, an accumulated deficit of $125.7 million and cash and cash equivalents of $18.6 million as of June 30, 2024. The Company’s ability to fund its ongoing operations is highly dependent upon raising additional capital through the issuance of equity securities, issuing debt or other financing vehicles. As a result, the Company has determined that substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of the issuance of these financial statements does exist. The Company’s ability to secure capital is dependent upon success in discovering and developing its drug candidates. The Company cannot provide assurance that additional capital will be available on acceptable terms, if at all. The issuance of additional equity or debt securities will likely result in substantial dilution to the Company’s stockholders. Should additional capital not be available to the Company in the near term, or not be available on acceptable terms, the Company may be unable to realize value from the Company’s assets or discharge liabilities in the normal course of business, which may, among other alternatives, cause the Company to delay, substantially reduce, or discontinue operational activities to conserve cash, which could have a material adverse effect on the Company’s ability to achieve its intended business objectives. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The financial statements do not reflect any adjustments relating to the recoverability and reclassification of assets and liabilities that might be necessary if the Company is unable to continue as a going concern. The Company believes that the $18.6 million of cash and cash equivalents on hand as of June 30, 2024, will not be sufficient to fund its operations in the normal course of business and meet its liquidity needs through at least the next 12 months from the issuance of these financial statements. As such, the Company will need to raise additional capital to finance its operations and the ability to do so is uncertain. As a result, the Company has determined there is substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of the issuance of these financial statements. Failure to raise capital as and when needed, on favorable terms or at all, would have a negative impact on the Company’s financial condition and its ability to discover and develop its product candidates. Changing circumstances may cause the Company to consume capital significantly faster or slower than currently anticipated. If the Company is unable to acquire additional capital or resources, it will be required to modify its operational plans. The estimates included herein are based on assumptions that may prove to be wrong, and the Company could exhaust its available financial resources sooner than currently anticipated. The financial statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern.	(1) DESCRIPTION OF BUSINESS OnKure, Inc. (“OnKure” or the “Company”) is a clinical-stage biopharmaceutical company focused on the discovery and development of precision medicines that target biologically validated drivers of cancers that are underserved by available therapies. The Company is using its structure-based drug design platform to build a robust pipeline of tumor-agnostic candidates that are designed to achieve optimal efficacy and tolerability. OnKure is currently developing OKI-219, H1047R Risks and Uncertainties The board of directors of the Company discusses with management macroeconomic and geopolitical developments, including inflation, instability in the banking and financial services sector, tightening of the credit markets, international conflicts, COVID-19, Liquidity and Capital Resources The Company had recurring losses from operations, an accumulated deficit of $102.1 million and cash and cash equivalents of $29.9 million as of December 31, 2023. The Company’s ability to fund its ongoing operations is highly dependent upon raising additional capital through the issuance of equity securities, issuing debt or other financing vehicles. As a result, the Company has determined that substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of the issuance of these financial statements does exist. The Company’s ability to secure capital is dependent upon success in discovering and developing its drug candidates. The Company cannot provide assurance that additional capital will be available on acceptable terms, if at all. The issuance of additional equity or debt securities will likely result in substantial dilution to the Company’s stockholders. Should additional capital not be available to the Company in the near term, or not be available on acceptable terms, the Company may be unable to realize value from the Company’s assets or discharge liabilities in the normal course of business, which may, among other alternatives, cause the Company to delay, substantially reduce, or discontinue operational activities to conserve cash, which could have a material adverse effect on the Company’s ability to achieve its intended business objectives. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The financial statements do not reflect any adjustments relating to the recoverability and reclassification of assets and liabilities that might be necessary if the Company is unable to continue as a going concern. The Company believes that the $29.9 million of cash and cash equivalents on hand as of December 31, 2023, will not be sufficient to fund its operations in the normal course of business and meet its liquidity needs through at least the next 12 months from the issuance of these financial statements. As such, the Company will need to raise additional capital to finance its operations and the ability to do so is uncertain. As a result, the Company has determined there is substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of the issuance of these financial statements. Failure to raise capital as and when needed, on favorable terms or at all, would have a negative impact on the Company’s financial condition and its ability to discover and develop its product candidates. Changing circumstances may cause the Company to consume capital significantly faster or slower than currently anticipated. If the Company is unable to acquire additional capital or resources, it will be required to modify its operational plans. The estimates included herein are based on assumptions that may prove to be wrong, and the Company could exhaust its available financial resources sooner than currently anticipated. The financial statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company has prepared the accompanying unaudited financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company recommends that these unaudited financial statements be read in conjunction with the audited financial statements and the notes thereto included in the Company’s audited financial statements for the year ended December 31, 2023. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of the financial statements, have been included in the accompanying unaudited financial statements. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. Summary of Significant Accounting Policies The significant accounting policies used in the preparation of these financial statements for the period ended June 30, 2024 are consistent with those discussed in Note 3 to the financial statements in the Company’s audited financial statements for the year ended December 31, 2023. Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Although these estimates are based on the Company’s knowledge of current events and actions it may take in the future, actual results may ultimately differ from these estimates. The most significant estimates relate to external research and development expenses, and the fair value of stock options and restricted stock awards and units. Fair Value of Financial Instruments The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1 — Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 — Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. The Company had no Level 2 valuations for the periods ended June 30, 2024, or year ended December 31, 2023, respectively. Level 3 — Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The Company had no Level 3 valuations for the periods ended June 30, 2024, or year ended December 31, 2023, respectively. The carrying amounts of the Company’s financial assets and liabilities, such as cash, receivables, prepaid and other current assets, accounts payable, notes payable, and accrued expenses approximate their fair values because of the short maturity of these instruments. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures 2023-09”), The Company continues to monitor new accounting pronouncements issued by the FASB and does not believe any accounting pronouncements issued through the date of this report will have a material impact on its financial statements.	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements as of and for the year ended December 31, 2023, and as of December 31, 2022, include the accounts of OnKure, Inc. The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments necessary for the fair presentation of the Company’s financial position, results of operations, and cash flows for the periods presented. Segment Information The Company operates in one operating segment and, accordingly, no segment disclosures have been presented herein. All equipment and other fixed assets are physically located within the United States. Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Although these estimates are based on the Company’s knowledge of current events and actions it may take in the future, actual results may ultimately differ from these estimates. The most significant estimates relate to external research and development expenses,and the fair value of stock options and restricted stock awards and units. Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner Research and Development Expenses Research and development (“R&D”) costs are expensed as incurred in performing research and development activities. The costs include employee-related expense, including salaries, benefits, share-based compensation, fees for acquiring and maintaining licenses under third-party license agreements, consulting fees, costs of research and development activities conducted by third parties on the Company’s behalf, costs to manufacture or have manufactured clinical trial materials, depreciation, and facilities and overhead costs. Accrued Research and Development Expenses The Company records research and development expenses in the period in which the Company receives or takes ownership of the applicable goods or when the applicable services are performed. The Company is required to estimate its expenses resulting from its obligations under contracts with vendors, consultants, and contract research organizations, in connection with conducting research and development activities. The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment flows that do not match the periods over which materials or services are provided under such contracts. The Company reflects research and development expenses in its financial statements by matching those expenses with the period in which services and efforts are expended. The Company accounts for these expenses according to the progress of the preclinical studies or clinical trials, as measured by the timing of various aspects of the study or related activities. The Company determines accrual estimates through a review of the underlying contracts along with the preparation of financial models considering discussions with research and other key personnel as to the progress of studies, trials, or other services being conducted. During a study or trial, the Company adjusts its rate of expense recognition if actual results differ from its estimate. Nonrefundable advance payments for goods and services, including fees for process development or manufacturing and distribution of clinical supplies that will be used in future research and development activities, are deferred and recognized as an expense in the period that the related goods are consumed, or services are performed. Patent Costs The Company expenses all costs as incurred in connection with patent applications (including direct application fees and the legal and consulting expenses related to making such applications) and such costs are included in general and administrative expenses in the statements of operations and comprehensive loss. Share-Based Compensation The Company maintains an equity incentive compensation plan under which incentive stock options and nonqualified stock options to purchase common stock, and restricted stock units for common stock, are granted to employees, board of directors, and non-employee The Black-Scholes valuation method requires certain assumptions be used as inputs, such as the fair value of the underlying common stock, expected term of the option before exercise, expected volatility of the Company’s common stock, risk-free interest rate and expected dividend. Options granted have a maximum contractual term of 10 years. The Company has limited historical stock option activity and therefore estimates the expected term of stock options granted using the simplified method, which represents the arithmetic average of the original contractual term of the stock option and its weighted-average vesting term. The expected volatility of stock options is based on the historical volatility of several publicly traded companies in similar stages of clinical development. The Company will continue to apply this process until enough historical information regarding the volatility of its stock price becomes available. The risk-free interest rates used are based on the U.S. Treasury yield in effect at the time of grant for zero-coupon U.S. treasury Common Stock Valuation Due to the lack of marketability for the Company’s common stock, the Company utilizes methodologies, approaches and assumptions consistent with the American Institute of Certified Public Accountants’ Audit and Accounting Practice Guide: Valuation of Privately-Held Company Equity Securities Issued as Compensation to estimate the fair value of its common stock. In determining the exercise prices for options granted, the Company has considered the fair value of the common stock as of the grant date. The fair value of the common stock has been determined based upon a variety of factors, including the prices at which the Company sold shares of its convertible preferred stock to outside investors in arms-length transactions, and the superior rights, preferences and privileges of the preferred stock relative to the common stock at the time of each grant; the progress of the Company’s research and development programs, including their stages of development, and the Company’s business strategy; external market and other conditions affecting the biotechnology industry, and trends within the biotechnology industry; the Company’s financial position, including cash on hand, and its historical and forecasted performance and operating results; the lack of an active public market for the Company’s common stock; and the market performance of peer companies in the biopharmaceutical industry. Significant changes to the key assumptions underlying the factors used could result in different fair values of common stock at each valuation date. Fair Value of Financial Instruments The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1 —Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 —Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. The Company had no Level 2 valuations for the year ended December 31, 2023 and 2022, respectively. Level 3 —Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The Company had no Level 3 valuations for the year ended December 31, 2023 and 2022, respectively. The carrying amounts of the Company’s financial assets and liabilities, such as cash, receivables, prepaid and other current assets, accounts payable, and accrued expenses approximate their fair values because of the short maturity of these instruments. Cash and Cash Equivalents All highly liquid investments with maturities of 90 days or less, at the time of purchase, are classified as cash equivalents. Cash equivalents are reported at cost, which approximates fair value. The Company’s cash and cash equivalents consist of money held in demand depository accounts and money market funds. The carrying amount of cash and cash equivalents was $29.9 million and $11.5 million as of December 31, 2023, and 2022, respectively, which approximates fair value and was determined based upon Level 1 inputs. The money market account is valued using quoted market prices with no valuation adjustments applied and is categorized as Level 1. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions above federally insured limits of $250,000 as of December 31, 2023, and 2022. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held and of the money market funds in which these investments are made. Property and Equipment The Company carries its property and equipment at cost, less accumulated depreciation, amortization and impairment, if any. Expenditures for renewals or betterments that materially extend the useful life of an asset or increase its productivity, such as leasehold improvements, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally between three to seven years. Leasehold improvements are amortized over the shorter of the life of the lease (including any renewal periods that are deemed to be reasonably assured) or the estimated useful life of the assets. Repair and maintenance costs are expensed as incurred and expenditures for major improvements are capitalized.  The following summarizes the components of property and equipment (in thousands): December 31, 2023 2022 Lab equipment $ 706 $ 669 Leasehold improvements 1,090 1,004 Computer hardware and software 141 84 Furniture and fixtures 160 95 Property and equipment, gross 2,097 1,852 Less: accumulated depreciation and amortization (665 ) (248 ) Property and equipment, net $ 1,432 $ 1,604 Leasing – Lessee Accounting The Company determines if an arrangement is a lease at inception. The Company’s operating lease agreements are primarily for office space and research labs. For operating leases with a term greater than one year, the Company recognizes the right-of-use As the interest rate implicit in the Company’s leases is not readily determinable, the Company uses its estimated incremental borrowing rate in its present value calculations. One of the Company’s lessee agreements include an option to extend the lease, which the Company does not include in its minimum lease term unless it is reasonably certain to exercise such option. Operating leases with a term of less than one year are recognized as a lease expense over the term of the lease, with no asset or liability recognized on the balance sheet. Impairment of Long-lived Assets The Company assesses the carrying amount of its property and equipment whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. No impairment charges were recorded during the years ended December 31, 2023, and 2022. Income Taxes Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently payable and deferred taxes. The Company accounts for income taxes using the asset and liability method of accounting for deferred income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and operating losses and tax credit carryforwards. A valuation allowance is recorded to the extent it is more likely than not that some portion of a deferred tax asset will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company’s significant deferred tax assets are net operating loss carryforwards, tax credits, and accruals. The Company has provided a valuation allowance equal to its net deferred tax assets since inception as, due to its history of operating losses, the Company has concluded that it is more likely than not that most of its deferred tax assets will not be realized. Accounting for uncertain tax positions requires a more likely than not threshold for recognition in the financial statements. The Company recognizes a tax benefit based on whether it is more likely than not that a tax position will be sustained. The Company records a liability to the extent that a tax position taken or expected to be taken on a tax return exceeds the amount recognized in the financial statements. The Company has no unrecognized tax benefits as of December 31, 2023, and 2022. The Company classifies interest and penalties arising from the underpayment of income taxes in the statements of operations as general and administrative expenses. No such expenses have been recognized during the years ended December 31, 2023, and 2022. Employee Benefit Plan The Company established a qualified 401(k) plan in June 2021 which covers all employees who meet eligibility requirements. The Company matches its employee contributions up to a maximum amount of 4 Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures 2023-09”), income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this pronouncement. The Company continues to monitor new accounting pronouncements issued by the FASB and does not believe any accounting pronouncements issued through the date of this report will have a material impact on its financial statements.
RENEO PHARMACEUTICALS INC [Member]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation The Company has prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted, although the Company believes that the disclosures made are adequate to make the information not misleading. The Company recommends that the unaudited consolidated financial statements be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair statement of the financial statements, have been included in the accompanying unaudited financial statements. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. The accompanying unaudited consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Summary of Significant Accounting Policies The significant accounting policies used in the preparation of these consolidated financial statements for the six months ended June 30, 2024 are consistent with those discussed in Note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K New Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on the Company’s financial position, operations or cash flows.	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP) and reflect the operation of the Company and its wholly owned subsidiary. All intercompany balances and transactions among the consolidated entities have been eliminated in consolidation. Use of Estimates The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure in the Company’s consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less, when purchased, to be cash equivalents. As of December 31, 2023 and 2022, the Company had cash balances deposited at major financial institutions. Cash balances are subject to minimal credit risk as the balances are with high credit quality financial institutions. Cash and cash equivalents include cash in readily available checking, money market accounts and repurchase agreements. Short-term Investments The Company accounts for short-term investments in accordance with Accounting Standard Codification (ASC) Topic 320, Investments – Debt and Equity Securities At December 31, 2023, the Company’s investments comprised of U.S. treasury securities and commercial paper classified as available-for-sale Available-for-sale When the fair value of an available-for-sale available-for-sale Money market account balances are included as cash and cash equivalents on the consolidated balance sheets, which are also disclosed in Note 4, Fair Value Measurements Concentration of Credit Risk Financial instruments, which potentially subject the Company to significant concentration of credit risk, consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Property and Equipment, Net Property and equipment are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Maintenance and repairs are expensed as incurred. The following estimated useful lives were used to depreciate or amortize the Company’s assets: Estimated Useful Life Furniture and fixtures 5 years Computers and software 3 years Leasehold improvements Shorter of useful life or remaining lease term Impairment of Long-Lived Assets Long-lived assets consist primarily of property and equipment. Long-lived assets are evaluated for impairment when events and circumstances indicate the assets might be impaired by first comparing the estimated future undiscounted cash flows of the asset or asset group to the carrying value. If the carrying value exceeds the estimated future undiscounted cash flows, an impairment loss is recognized based on the amount that the carrying value exceeds the fair value of the asset or asset group. As a result of suspending development activities of the Company’s only product candidate, mavodelpar, the Company recognized $ right-of-use Leases The Company determines if an arrangement includes a lease at inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company’s lease terms may include options to extend or terminate a lease when it is reasonably certain that it will exercise that option. The Company combines lease and non-lease Right-of-use Research and Development Costs and Accruals All research and development costs are expensed as incurred. Research and development costs consist primarily of costs associated with manufacturing drug substance and drug product, costs associated with preclinical studies, clinical trials managed through contract research organizations (CROs) and other third parties, license fees, salaries and employee benefits. The Company bases its expense accruals related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on its behalf. The financial terms of these agreements vary from contract to contract and may result in uneven payment flows. Payments under certain contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing costs, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. Nonrefundable advance payments for goods and services, including fees for process development or manufacturing and distribution of clinical supplies that will be used in future research and development activities, are deferred and recognized as expense in the period that the related goods are consumed, or services are performed. To date, the Company has not experienced significant changes in its estimates of accrued research and development expenses after a reporting License Fees The Company expenses amounts paid to acquire licenses associated with products under development when the ultimate recoverability of the amounts paid is uncertain and the technology has no alternative future use when acquired. Acquisitions of technology licenses are charged to expense or capitalized based upon management’s assessment regarding the ultimate recoverability of the amounts paid and the potential for alternative future use. The Company has determined that technological feasibility for its product candidate would be reached when the requisite regulatory approvals are obtained to make the product available for sale. Contingent milestone payments are recognized when the related contingency is resolved, and the amounts are paid or become payable. These amounts are expensed to research and development if there is no alternative future use associated with the license or capitalized as an intangible asset if alternative future use of the license exists. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning The Company records uncertain tax positions on the basis of a two-step likely more-likely-than-not The Company is subject to taxation in the United States and the United Kingdom (UK). As of December 31, 2023, the Company’s tax years since inception are subject to examination by taxing authorities in the United States, and the UK tax returns from 2018 forward are subject to examination. Stock-Based Compensation The Company recognizes stock-based compensation expense for grants under its 2014 and 2021 Equity Incentive Plans and employee stock purchase plan (ESPP). The Company accounts for all stock-based awards granted to employees and directors at their fair value and recognizes compensation expense over the award’s vesting period. Determining the amount of stock-based compensation to be recorded requires the Company to develop estimates of fair values of stock options as of the grant date. The Company calculates the grant date fair values of stock options using the Black-Scholes valuation model, which requires the input of subjective assumptions, including but not limited to expected stock price volatility over the term of the awards and the expected term of stock options. The fair value of restricted stock awards granted to employees is based on the quoted closing market price per share on grant date. The Company granted restricted stock awards with performance conditions that are based upon the achievement of pre-specified The Company granted restricted stock awards with market conditions. The Company measures the fair value of stock-based awards with market-based vesting conditions on the date of grant using a Monte Carlo simulation model. In accordance with accounting guidance for awards with market conditions, the stock-based compensation expense will be recognized over the derived service period regardless of whether the award achieves the market condition and will only be adjusted to the extent the service condition is not met. Foreign Currency Transactions The functional currency of Reneo Pharma Ltd, the Company’s wholly owned subsidiary in the UK, is the U.S. dollar. All foreign exchange transactional and remeasurement gains and losses are recognized in the consolidated statements of operations and comprehensive loss. For the years ended December 31, 2023 and 2022, total foreign currency gains and losses were immaterial. Comprehensive Income or Loss Comprehensive income or loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner New Accounting Pronouncements Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standard Board (FASB) issued Accounting Standard Update (ASU) 2016-13, Financial Instruments - Credit Losses Measurement of Credit Losses on Financial Instruments available-for-sale Recent Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023- 09, Income Taxes Improvements to Income Tax

Net Loss Attributable To Common

Net Loss Attributable To Common Stockholders Per Share	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Net Loss Attributable To Common Stockholders Per Share	(5) NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE The Company computes basic loss per share by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For purposes of this calculation, common stock shares to be issued upon exercise of all outstanding stock options and restricted stock units were excluded from the diluted net loss per share calculation for the three and six months ended June 30, 2024 and 2023 because such shares are anti-dilutive. Outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following: As of June 30, 2024 2023 Options to purchase common stock 8,299,737 2,991,710 Restricted stock units 1,476,715 —  Total 9,776,452 2,991,710
RENEO PHARMACEUTICALS INC [Member]
Net Loss Attributable To Common Stockholders Per Share	3. Net Loss Per Share The Company computes basic loss per share by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For purposes of this calculation, common stock shares to be issued upon exercise of all outstanding stock options and vesting of restricted stock units were excluded from the diluted net loss per share calculation for the three and six months ended June 30, 2024 and 2023 because such shares are anti-dilutive. Historical outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following: As of June 30, 2024 2023 Common stock options outstanding 467,129 600,118 Unvested restricted stock units 31,150 36,450 Total 498,279 636,568	3. Net Loss Per Share The Company computes basic loss per share by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For p urpo Historical outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following: As of December 31, 2023 2022 Common stock options outstanding 530,125 587,774 Unvested restricted stock units 32,650 32,950 Total 562,775 620,724

Fair Value Measurements

Fair Value Measurements	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
RENEO PHARMACEUTICALS INC [Member]
Fair Value Measurements	4. Fair Value Measurements ASC Topic 820, Fair Value Measurement are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. ASC Topic 820 identifies fair value as the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC Topic 820 establishes a three-tier fair value hierarchy that distinguishes between the following: • Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs, other than quoted prices in active markets, which are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. The Company’s financial assets are subject to fair value measurements on a recurring basis. The Company categorizes its money market funds as Level 1, using the quoted prices in active markets. Commercial paper and U.S. treasury securities are categorized as Level 2, using significant other observable inputs. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. In connection with the Company’s chief executive officer’s (CEO) employment agreement, he is entitled to receive a special performance bonus in the amount of $7.5 million (Performance Award), payable in cash, common stock or a combination of cash and common stock, at the election of the Company, based on achievement of certain conditions as described in more detail in Note 8. The Company estimated the fair value of the Performance Award using a Monte Carlo simulation, which incorporates the stock price at the date of the valuation and utilizes Level 3 inputs such as volatility, probabilities of success, and other inputs that are not observable in active markets. The Performance Award is required to be measured at fair value on a recurring basis each reporting period, with changes in the fair value recognized in general and administrative expense in the consolidated statements of operations and comprehensive loss over the derived service period of the award. No assets or liabilities were transferred into or out of their classifications during the six months ended June 30, 2024. The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at June 30, 2024 consisted of the following (in thousands): Quoted Significant Significant Total Assets Cash and cash equivalents: Money market investments $ 21,717 $ —  $ —  $ 21,717 U.S. treasury securities —  12,934 —  12,934 Short-term investments: U.S. treasury securities —  40,611 —  40,611 Total $ 21,717 $ 53,545 $ —  $ 75,262 Liabilities Performance award $ —  $ —  $ 8 $ 8 Total $ —  $ —  $ 8 $ 8 The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at December 31, 2023 consisted of the following (in thousands): Quoted Significant Significant Total Assets Cash and cash equivalents: Money market investments $ 10,983 $ —  $ —  $ 10,983 U.S. treasury securities —  9,928 —  9,928 Short-term investments: U.S. treasury securities —  75,331 —  75,331 Total $ 10,983 $ 85,259 $ —  $ 96,242 Liabilities Performance award $ —  $ —  $ 7 $ 7 Total $ —  $ —  $ 7 $ 7 The following table sets forth a summary of changes in the fair value measurements of the Performance Award liability (in thousands): Performance Balance as of January 1, 2024 $ 7 Change in fair value 1 Balance as of June 30, 2024 $ 8	4. Fair Value Measurements ASC Topic 820, Fair Value Measurement ASC Topic 820 identifies fair value as the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC Topic 820 establishes a three-tier fair value hierarchy that distinguishes between the following: • Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs, other than quoted prices in active markets, which are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. The Company’s financial assets are subject to fair value measurements on a recurring basis. The Company categorizes its money market funds as Level 1, using the quoted prices in active markets. Commercial paper and U.S. treasury securities are categorized as Level 2, using significant other observable inputs. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. Investments are reviewed periodically to identify possible other-than-temporary impairments. As the Company has the ability and intends to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired for any of the periods presented. In connection with the Company’s chief executive officer’s (CEO) employment agreement, he is entitled to receive a special performance bonus in the amount of $7.5 million (Performance Award), payable in cash, common stock or a combination of cash and common stock, at the election of the Company, based on achievement of certain conditions as described in more detail in Note 9. The Company estimated the fair value of the Performance Award using a Monte Carlo simulation, which incorporates the stock price at the date of the valuation and utilizes Level 3 inputs such as volatility, probabilities of success, and other inputs that are not observable in active markets. The Performance Award is required to be measured at fair value on a recurring basis each reporting period, with changes in the fair value recognized in general and administrative expense in the consolidated statements of operations and comprehensive loss over the derived service period of the award. No assets or liabilities were transferred into or out of their classifications during the years ended December 31, 2023 and 2022. The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at December 31, 2023 consisted of the following (in thousands): Quoted Significant Significant (Level 3) Total Assets Cash and cash equivalents: Money market investments $ 10,983 $ —  $ 10,983 U.S. treasury securities —  9,928 —  $ 9,928 Short-term investments: U.S. treasury securities —  75,331 —  75,331 Total $ 10,983 $ 85,259 $ —  $ 96,242 Liabilities Performance award $ —  $ —  $ 7 $ 7 Total $ —  $ —  $ 7 $ 7 The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at December 31, 2022 consisted of the following (in thousands): Quoted Significant Significant Unobservable (Level 3) Total Assets Cash and cash equivalents: Money market investments $ 9,365 $ —  $ —  $ 9,365 Commercial paper —  4,978 —  4,978 Short-term investments: U.S. treasury securities —  76,253 —  76,253 Commercial paper —  4,993 —  4,993 Total $ 9,365 $ 86,224 $ —  $ 95,589 Liabilities Performance award $ —  $ —  $ 29 $ 29 Total $ —  $ —  $ 29 $ 29 The following table sets forth a summary of changes in the fair value measurements of the Performance Award liability (in thousands): Performance Balance as of January 1, 2023 $ 29 Change in fair value (22 ) Balance as of December 31, 2023 $ 7

Marketable Debt Securities

Marketable Debt Securities	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
RENEO PHARMACEUTICALS INC [Member]
Marketable Debt Securities	5. Marketable Debt Securities The Company’s investments in debt securities are carried at fair value and classified as current assets available-for-sale available-for-sale available-for-sale As of June 30, 2024 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 53,558 $ —  $ (13 ) $ 53,545 Total $ 53,558 $ —  $ (13 ) $ 53,545 As of December 31, 2023 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 75,324 $ 8 $ (1 ) $ 75,331 Total $ 75,324 $ 8 $ (1 ) $ 75,331 As of June 30, 2024, the Company considered the unrealized losses in its investment portfolio to be temporary in nature and not due to credit losses. The Company has the intent and ability to hold such investments until their recovery at fair value. The Company did not have any realized gains or losses in its available for sale securities during the three and six months ended June 30, 2024 and 2023.	5. Marketable Debt Securities The Company’s investments in debt securities are carried at fair value and classified as current assets available-for-sale available-for-sale available-for-sale As of December 31, 2023 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 75,324 $ 8 $ (1 ) $ 75,331 Total $ 75,324 $ 8 $ (1 ) $ 75,331 As of December 31, 2022 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 76,297 $ 2 $ (46 ) $ 76,253 Commercial paper 4,993 —  —  4,993 Total $ 81,290 $ 2 $ (46 ) $ 81,246

Accrued Expenses

Accrued Expenses	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Accrued Expenses	(8) ACCRUED EXPENSES Accrued expenses consisted of the following (in thousands): As of As of 2023 Accrued contract manufacturing costs $ 864 $ 1,627 Accrued compensation 1,707 1,663 Accrued legal 1,171 —  Accrued other 765 370 Total accrued expenses $ 4,507 $ 3,660	(7) ACCRUED EXPENSES Accrued expenses consisted of the following (in thousands): Year Ended 2023 2022 Accrued contract manufacturing costs $ 1,627 $ 434 Accrued compensation 1,663 1,456 Accrued other 370 981 Total accrued expenses $ 3,660 $ 2,871
RENEO PHARMACEUTICALS INC [Member]
Accrued Expenses	6. Accrued Expenses Accrued expenses consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Accrued clinical and regulatory $ —  $ 3,661 Accrued contract manufacturing cost —  1,100 Accrued compensation 386 3,948 Accrued other 567 420 Total accrued expenses $ 953 $ 9,129	7. Accrued Expenses Accrued expenses consisted of the following (in thousands): As of December 31, 2023 2022 Accrued clinical and regulatory $ 3,661 $ 1,872 Accrued contract manufacturing cost 1,100 1,583 Accrued compensation* 3,948 807 Accrued other 420 565 Total accrued expenses $ 9,129 $ 4,827 * Accrued compensation includes severance costs. For further information see Note 13.

Leases

Leases	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Leases	(3) LEASES The Company leases office and lab facilities in Boulder, Colorado under non-cancellable Other information related to the Company’s operating leases are as follows:  As of June 30, 2024 2023 Weighted-average remaining lease term (years) 2.5 3.5 Weighted-average discount rate 4.50 % 4.50 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases (in thousands) $ 101 $ 100 The aggregate maturities of the Company’s operating lease liabilities were as follows as of June 30, 2024 (in thousands): 2024 $ 118 2025 240 2026 247 Total future minimum lease payments 605 Less: Imputed interest (32 ) Total $ 573	(3) LEASES The Company leases office and lab facilities in Boulder, Colorado under non-cancellable Right-of-use December 31, 2023 2022 Operating lease right-of-use $ 478 443 Current operating lease liabilities 208 151 Noncurrent operating lease liabilities 466 486 Total lease liabilities $ 674 637 Lease expense for operating leases as included in the Company’s financial statements are as follows (in thousands): December 31, 2023 2022 Operating lease cost $ 173 152 Variable lease expense 201 150 Short-term lease expense —  —  Lease term, discount rates, and additional information for operating leases are as follows (in thousands):  December 31, 2023 2022 Weighted-average remaining lease term – operating leases (years) 2.92 3.85 Weighted-average discount rate – operating leases 4.50 % 4.50 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 210 $ 194 The aggregate maturities of the Company’s operating lease liabilities were as follows as of December 31, 2023 (in thousands): 2024 $ 233 2025 240 2026 247 Total future minimum lease payments 720 Less: imputed interest (46 ) Total $ 674
RENEO PHARMACEUTICALS INC [Member]
Leases	7. Leases The Company’s headquarters are located in Irvine, California, where it leases office space under a lease agreement that expires in November 2026. The Company leases additional office space located in Sandwich, United Kingdom under a lease agreement that expires in October 2027, with an option to early terminate in October 2025 with no termination fee. In January 2024, the Company exercised its early termination option and made the final termination lease payment of $0.2 million in July 2024. Other information related to the Company’s operating leases as of the balance sheet dates presented are as follows: As of June 30, 2024 2023 Weighted incremental borrowing rate 5 % 5 % Weighted average remaining lease term (in years) 2.3 3.7 Cash paid for amounts included in the measurement of lease liabilities (in thousands) $ 194 $ 142 Lease expense (in thousands) $ 148 $ 241 Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows (in thousands): As of June 30, 2024 2024 (remaining six months) $ 195 2025 371 2026 285 Total lease payments 851 Less: Imputed interest (28 ) Present value of lease liabilities $ 823	8. Leases The Company’s headquarters are located in Irvine, California, where it leases office space under a lease agreement that expires in November 2026. The Company leases additional office space located in Sandwich, UK under a lease agreement that expires in October 2027 (UK lease), with an option to early terminate in October 2025 with no termination fee. In January 2024, the Company exercised its early termination option. The Company concluded that its current leases are impaired and recognized approximately $0.3 million of ROU assets impairment expense for the year ended December 31, 2023. For further information, see Note 13. At December 31, 2023, the weighted average incremental borrowing rate was 5% and the weighted average remaining lease term was 3.8 years for the operating leases held by the Company. For the years ended December 31, 2023 and 2022, cash paid for amounts included for the measurement of lease liabilities was $0.5 million. For the years ended December 31, 2023 and 2022, operating lease expense was $0.4 million and $0.5 million, respectively. Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows: As of December 31, 2023 2024 $ 381 2025 367 2026 285 Total lease payments 1,033 Less: Imputed interest (60 ) Present value of lease liabilities $ 973

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2023
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]
Common Stock	(4) COMMON STOCK Common Stock The Company is authorized to issue 87,589,983 shares of common stock, of which 78,000,000 shares have been designated as Class A Common Stock and 9,589,983 shares have been designated as Class B Common Stock, both with a par value of $0.0001 per share. The number of authorized shares of common stock may be increased or decreased by the affirmative vote of the holders of a majority of the Company’s stock who are entitled to vote. Each share of Class A Common Stock is entitled to one vote. Class B Common Stock is not entitled to vote on any matter on which the holders of Class A Common Stock or Preferred Stock are entitled to vote. All holders of common stock are entitled to receive dividends when and as declared or paid by the Company’s board of directors, subject to the preferential rights of the holders of preferred stock. Class B Common Stock is convertible into a corresponding number of shares of Class A Common Stock upon written notice of the holder, subject to defined beneficial ownership limitations.

Convertible Preferred Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2023
Features of Convertible Preferred Stock [Abstract]
Convertible Preferred Stock	(5) CONVERTIBLE PREFERRED STOCK Convertible preferred stock consisted of the following (in thousands) except for share information: December 31, 2023 2022 Convertible preferred stock, Series A, $0.0001 par value; 2,758,788 shares issued and outstanding at December 31, 2022, liquidation preference of $5,222 as of December 31, 2022 —  4,975 Convertible preferred stock, Series A-1, —  5,162 Convertible preferred stock, Series B, $0.0001 par value; 20,649,758 shares issued and outstanding at December 31, 2022, liquidation preference of $57,061 as of December 31, 2022 —  54,252 Convertible preferred stock, Series C, $0.0001 par value; 51,141,064 authorized; 47,243,806 shares issued and outstanding at December 31, 2023; liquidation preference of $195,823 as of December 31, 2023. 129,825 —  As of December 31, 2023 and 2022, the Company’s Preferred Stock is classified as temporary equity in the accompanying balance sheets given that the holders of the convertible preferred stock could cause certain events to occur that are outside of the Company’s control whereby the Company could be obligated to redeem the convertible preferred stock. The carrying value of the convertible preferred stock is not adjusted to the redemption value until the contingent redemption events are considered probable to occur. Series A, Series A-1, As of December 31, 2022, the Company was authorized to issue 25,828,896 shares of preferred stock, of which 2,758,788 shares were designated as Series A Preferred Stock, 2,413,906 shares were designated as Series A-1 Stock, Series A-1 Prior Preferred stock: Series A Preferred Stock 2,758,788 Series A-1 2,413,906 Series B Preferred Stock 20,649,758 Total Prior Preferred stock 25,822,452 Shares issued for Prior Preferred: Series C Preferred Stock 27,780,350 Class A Common Stock 5,402,428 Total shares issued in exchange for Prior Preferred 33,182,778 As of December 31, 2023, no shares of the prior preferred were authorized for issue or outstanding. Series C Preferred Stock As of December 31, 2023, the Company is authorized to issue 51,141,064 shares of Series C Preferred Stock. In March 2023, the Company entered into a Series C Purchase Agreement pursuant to which the Company issued 19,463,456 shares of Series C Preferred Stock at a purchase price of $2.76 per share, which resulted in gross proceeds of approximately $53.8 million, as well as the conversion of all Series A Preferred Stock, Series A-1 The Company’s convertible preferred stock had the following characteristics as of December 31, 2023.  Conversion of Preferred Stock into Common Stock Each share of preferred stock, at the option of the holder, is convertible into a number of shares of common stock as determined by multiplying the number of shares of preferred stock being converted by the conversion rate. The conversion rate in effect at any time for conversion of preferred stock is determined by dividing the Original Issue Price by the Conversion Price. The Original Issue Price for the Series C Preferred Stock is $2.76 per share. The Conversion Price is subject to certain adjustments as provided in the Company’s restated certificate of incorporation The preferred stock will automatically convert to common stock upon the closing of an initial public offering of the Company’s common stock in which the per-share as-converted Voting Rights Each preferred stockholder is entitled to the number of votes equal to the number of shares of Class A Common Stock into which such holder’s shares are convertible. At any time when a defined number of shares of Series C Preferred Stock are outstanding, the Company is restricted from certain actions described in the Company’s restated certificate of incorporation without the vote or written consent of the holders of a majority of the then outstanding shares of Series C Preferred Stock voting or consenting as a separate class on an as-converted Dividends The Company cannot declare, pay or set aside any dividends on any shares of any other class or series of capital stock unless each holder of the preferred stock first receives a dividend based upon a formula in the Company’s restated certificate of incorporation. No dividends were declared as of December 31, 2023. Liquidation Preference Upon any liquidation, dissolution or winding up of the Company, certain qualifying mergers, sales or transactions with a special purpose acquisition companies, and other deemed liquidation events as defined in the Company’s restated certificate of incorporation, unless the holders of a majority of the then outstanding shares of Series C Preferred Stock, voting as a separate class on an as-converted After the payment of all preferential amounts required to be paid to the holder of shares of preferred stock, the remaining assets available for distribution to its stockholders are to be distributed to the holders of shares of common stock, pro rata based on the number of shares held by each holder.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	(6) PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following (in thousands): As of As of 2023 Prepaid clinical trials $ 1,494 $ 3,192 Deferred recapitalization costs 656 —  Other receivables 2,045 273 Prepaid other 968 425 Total prepaid expenses $ 5,163 $ 3,890

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Property and Equipment, Net	(7) PROPERTY AND EQUIPMENT, NET The following summarizes the components of property and equipment (in thousands): As of As of Lab equipment $ 706 $ 706 Leasehold improvements 1,090 1,090 Computer hardware and software 158 141 Furniture and fixtures 160 160 Property and equipment, gross 2,114 2,097 Less: Accumulated depreciation and amortization (891 ) (665 ) Property and equipment, net $ 1,223 $ 1,432 Depreciation expense for the three and six months ended June 30, 2024 was $115,000 and $228,000, respectively. Depreciation expense for the three and six months ended June 30, 2023 was $99,000 and $197,000, respectively.
RENEO PHARMACEUTICALS INC [Member]
Property and Equipment, Net		6. Property and Equipment, Net Property and equipment, net, consisted of the following (in thousands): As of December 31, 2023 2022 Computer, software and office equipment $ 254 $ 300 Leasehold improvements* —  255 Total property and equipment, gross 254 555 Less: accumulated depreciation and amortization (120 ) (102 ) Total property and equipment, net $ 134 $ 453 * All leasehold improvements were fully impaired and written off. For further information see Note 13.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Stock-Based Compensation	(4) SHARE-BASED COMPENSATION The Company had share-based compensation plans which are described below: 2011 Equity Incentive Plan In October 2011, the Company established an equity incentive plan (the “2011 Plan”). The 2011 Plan provides for the grant of stock options and restricted stock awards (“RSA”) to employees, non-employee 2021 Equity Incentive Plan In February 2021, the Company established an equity incentive plan (the “2021 Plan”). The 2021 Plan provides for the grant of stock options and RSA to employees, non-employee 2023 RSU Equity Incentive Plan In September 2023, the company established an equity incentive plan (the “2023 Plan”). The 2023 Plan provides for the grant of restricted stock units (“RSU”) to employees, directors, and consultants. The aggregate number of shares of common stock that may be issued under the 2023 Plan will not exceed 2,000,000 shares. Stock Options Options granted under the Company’s equity incentive plans have an exercise price equal to or in excess of the market value of the Class A Common Stock at the date of grant and expire no more than 10 years from the date of grant. Generally, options vest 25% on the first anniversary of the vesting commencement date and 75% ratably in equal monthly installments over the remaining 36 months. Stock options granted to non-employees As of June 30, 2024, there were 687,274 options available for issuance under the 2021 Plan, of which the Company is restricted from granting stock awards for 361,600 shares of its common stock under certain conditions. A summary of common stock option activity is as follows: Options Weighted Weighted Aggregate Outstanding as of December 31, 2023 7,197,551 $ 0.40 8.88 $ 16 Granted 854,795 $ 0.33 Exercised (90,374 ) $ 0.21 Canceled (20,324 ) $ 0.54 Outstanding as of June 30, 2024 7,941,648 $ 0.39 7.46 $ 2 Options exercisable as of June 30, 2024 4,289,295 $ 0.41 6.22 $ 2 Options vested and expected to vest as of June 30, 2024 7,710,235 $ 0.39 7.40 $ 2 As of June 30, 2024, the Company had unrecognized compensation cost for unvested stock options of $365,000, expected to be recognized over a weighted-average period of approximately 2.6 years. From time to time, the Company grants performance-based stock options. As of June 30, 2024, the Company had granted 358,089 performance-based shares. The company recognized $9,000 and $30,000 in performance-based compensation expense for the three and six months ended June 30, 2024, respectively. No Restricted Stock Awards and Restricted Stock Units RSA typically vests 25% on the first anniversary of the issuance date and incrementally vest monthly for the three-year period thereafter. In the event of termination of services, all unvested shares are forfeited, and the Company has the option to purchase all outstanding vested shares at their fair market value. RSU vests based on a service-based requirement and a liquidity event plus service requirement. As of June 30, 2024, there were 523,285 RSUs available for issuance under the 2023 Plan. A summary of restricted stock awards and restricted stock units activity are as follows: Shares Weighted Unvested balance as of December 31, 2023 1,481,122 $ 0.33 Vested outstanding (RSA) 4,407 $ 0.12 Unvested balance as of June 30, 2024 1,040,204 $ 0.33 Vested outstanding (RSU) as of June 30, 2024 436,511 $ 0.33 As of June 30, 2024, the Company had unrecognized compensation cost for unvested RSU awards of $328,000, expected to be recognized over a weighted-average period of approximately 2.7 years. Share-based compensation expense The following table shows the allocation of share-based compensation expense related to the company’s share-based awards (in thousands): Three Months Ended Six Months Ended  2024   2023   2024   2023  Research and development $ 1,518 $ 15 $ 1,555 $ 27 General and administrative 295 2 365 5 Total share-based compensation $ 1,813 $ 17 $ 1,920 $ 32 The Company recorded accelerated share-based compensation expenses related to modifications of RSUs under certain separation agreements of $1.7 million during the three and six months ended June 30, 2024. The fair value was determined using the Black-Scholes option pricing model and the following weighted-average assumptions for the six months ended June 30, 2024: expected term 6.07 years, expected volatility 31.94%, risk-free interest rate 4.05% and 0% expected dividend yield. No options were granted in the three months ended June 30, 2024. No options were granted for the three and six months ended June 30, 2023, respectively.	(6) SHARE-BASED COMPENSATION The Company had share-based compensation plans which are described below: 2011 Equity Incentive Plan In October 2011, the Company established an equity incentive plan (the “2011 Plan”). The 2011 Plan provides for the grant of stock options and restricted stock awards (“RSA”) to employees, non-employee 2021 Equity Incentive Plan In February 2021, the Company established an equity incentive plan (the “2021 Plan”). The 2021 Plan provides for the grant of stock options and RSA to employees, non-employee 2023 RSU Equity Incentive Plan In September 2023, the company established an equity incentive plan (the “2023 Plan”). The 2023 Plan provides for the grant of restricted stock units (“RSU”) to employees, directors, and consultants. The aggregate number of shares of common stock that may be issued under the 2023 Plan will not exceed 2,000,000 shares. Stock Options Options granted under the Company’s equity incentive plans have an exercise price equal to or in excess of the market value of the Class A Common Stock at the date of grant and expire no more than 10 years from the date of grant. Generally, options vest 25% on the first anniversary of the vesting commencement date and 75% ratably in equal monthly installments over the remaining 36 months. Stock options granted to non-employees As of December 31, 2023, there were 1,521,745 options available for issuance under the 2021 Plan. A summary of common stock option activity is as follows: Options Weighted Weighted Aggregate Outstanding as of December 31, 2021 2,795,205 $ 0.46 8.72 $ —  Granted 1,240,168 $ 0.53 Exercised (828,305 ) $ 0.41 Canceled (105,764 ) $ 0.50 Outstanding as of December 31, 2022 3,101,304 $ 0.50 $ 243 Granted 4,368,378 $ 0.33 Exercised (148,412 ) $ 0.44 Canceled (123,719 ) $ 0.54 Outstanding as of December 31, 2023 7,197,551 $ 0.40 8.88 $ 16 Options exercisable as of December 31, 2023 2,585,640 $ 0.44 8.26 $ 16 Options vested and expected to vest as of December 31, 2023 6,903,294 $ 0.40 8.86 $ 16 As of December 31, 2023, the Company had unrecognized compensation cost for unvested stock options of $452,000, expected to be recognized over a weighted-average period of approximately 2.6 years. The aggregate intrinsic value is calculated as the difference between the exercise price and the estimated fair value of the Company’s common stock as of December 31, 2023. The weighted-average grant-date fair value of options granted for the years ended December 31, 2023, and 2022 was $0.13 and $0.10, respectively. From time to time, the Company grants performance-based stock options. As of December 31, 2023, the Company granted 358,089 peformance-based shares. The company recognized $13,000 in performance-based compensation expense and 250,063 performance-based shares were outstanding for the year ended December 31, 2023, respectively. No performance-based shares were granted and no performance-based expense was recognized for the year ended December 31, 2022. Restricted Stock Awards and Restricted Stock Units RSA typically vests 25% on the first anniversary of the issuance date and incrementally vest monthly for the three-year period thereafter. In the event of a termination of services, all unvested shares are forfeited, and the Company has the option to purchase all outstanding vested shares at their fair market value. RSU vests based on a service-based requirement and a liquidity event plus service requirement. No RSU had vested as of December 31, 2023. As of December 31, 2023, there were 523,285 options available for issuance under the 2023 Plan. A summary of restricted stock award and restricted stock unit activity are as follows: Shares Weighted Unvested balance as of December 31, 2021 111,413 $ 0.09 Vested (RSA) 76,682 $ 0.08 Unvested balance as of December 31, 2022 34,731 $ 0.10 Granted (RSU) 1,487,689 $ 0.33 Vested (RSA) 30,324 $ 0.10 Forfeited (10,974 ) $ 0.33 Unvested balance as of December 31, 2023 1,481,122 $ 0.33 As of December 31, 2023, the Company had unrecognized compensation cost for unvested RSU awards of $455,000, expected to be recognized over a weighted-average period of approximately 3.2 years. Share-based compensation expense The following table shows the allocation of share-based compensation expense related to the company’s share-based awards (in thousands): Year ended 2023 2022 Research and development $ 98 $ 34 General and administrative $ 101 $ 14 Total share-based compensation $ 199 $ 48 The fair value was determined using the Black-Scholes option pricing model and the following weighted-average assumptions: Year ended 2023 2022 Expected term (years) 5.73 5.97 Expected volatility 32.0 % 36.6 % Risk-free interest rate 4.31 % 2.51 % Expected dividend yield —  —
RENEO PHARMACEUTICALS INC [Member]
Stock-Based Compensation	8. Stock-Based Compensation In March 2021, the Company’s Board of Directors adopted the Company’s 2021 Equity Incentive Plan (2021 Plan), which is the successor to the Company’s 2014 Equity Incentive Plan (2014 Plan). As of the effective date of the 2021 Plan, awards granted under the 2014 Plan that are forfeited or otherwise become available under the 2014 Plan will be included and available for issuance under the 2021 Plan. Under the 2021 Plan, the Company may grant stock options, stock appreciation rights, restricted stock awards, restricted stock units, and other awards to individuals who are employees, officers, directors or consultants of the Company and its affiliates. Under the 2014 Plan, certain employees were granted the ability to early exercise their options. The shares of common stock issued pursuant to the early exercise of unvested stock options are restricted and continue to vest over the requisite service period after issuance. The Company has the option to repurchase any unvested shares at the original purchase price upon any voluntary or involuntary termination. The shares purchased by the employees pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be outstanding until those shares vest. As of June 30, 2024, there were no Shares Reserved for Future Issuance As of June 30, 2024, the Company had reserved shares of its common stock for future issuance as follows: Shares Common stock options outstanding 467,129 Unvested restricted stock units 31,150 Available for future grants under the 2021 Equity Incentive Plan 442,366 Available for future grants under the 2021 Employee Stock Purchase Plan 78,009 Total shares of common stock reserved 1,018,654 Stock Options A summary of the Company’s stock option activity and related information for the six months ended June 30, 2024 is as follows: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2023 530,125 $ 47.60 6.9 $ —  Forfeited/Expired (62,996 ) $ 49.05 Outstanding at June 30, 2024 467,129 $ 47.39 6.9 $ —  Vested at June 30, 2024 334,861 $ 50.38 6.5 $ —  Exercisable at June 30, 2024 351,698 $ 50.31 6.5 $ —  Options exercisable at June 30, 2024 include vested options and options eligible for early exercise. All outstanding options as of June 30, 2024 are expected to vest. Unrecognized stock-based compensation expense as of June 30, 2024 was $4.4 million, which is expected to be recognized over a weighted-average vesting term of 1.8 years. The Company estimates stock awards fair value on the date of grant using the Black-Scholes valuation, with the vesting being subject to service requirements. The Company accounts for forfeitures when they occur. The Company did not grant any stock options during the six months ended June 30, 2024. Restricted Stock Units (RSUs) RSUs consist of time-based units (TSUs), performance-based units (PSUs) and market-based units (MSUs). The following table summarizes RSU activities during the six months ended June 30, 2024: Number of Weighted- Average Grant Date Per Share Value Unvested at December 31, 2023 32,650 $ 59.00 Cancelled (1,500 ) $ 69.79 Unvested at June 30, 2024 31,150 $ 58.46 Time-Based Units TSUs typically vest over four years, with 25% vesting on the one-year Performance-Based Units The vesting of the PSUs is based on the Company achieving certain regulatory milestones and is subject to the employee’s continued employment with the Company through the achievement date. The fair value of the awards was based on the value of the Company’s common stock at the grant date of the award and expense recognition is based on the probability of achieving the performance conditions. Stock-based compensation expense is adjusted in future periods for subsequent changes in the expected outcome of the performance conditions. The Company had 13,450 unvested shares underlying PSUs as of June 30, 2024. The Company concluded that achievement of the performance conditions was not probable as of June 30, 2024 and 2023, and therefore no stock-based compensation expense was recognized for the three and six months ended June 30, 2024 and 2023 in connection with the PSUs. As of June 30, 2024, there was $1.1 million of unrecognized stock-based compensation expense related to PSUs that were deemed not probable of vesting. Market-Based Units The vesting of the MSUs is based on the Company’s closing stock price trading above $200 per share for 30 consecutive trading days subject to the employee’s continued employment with the Company through the date of achievement. The share price of the Company’s common stock on the date of issuance of the MSUs was $27.80 per share. The fair value was based on Monte Carlo simulation model on the grant date. Stock-based compensation expense is recognized over the derived service period of approximately 3 years. The Company had 12,000 unvested shares underlying MSUs as of June 30, 2024. Stock-based compensation expense related to the MSUs during the three and six months ended June 30, 2024 and 2023 was immaterial. As of June 30, 2024, unrecognized stock-based compensation expense related to the MSUs was immaterial. Performance Award In connection with the CEO’s employment agreement, he is entitled to receive a Performance Award in the amount of $7.5 million, payable in cash, common stock or a combination of cash and common stock, at the election of the Company, in the event that (i) the Company’s market value exceeds $750.0 million utilizing the volume-weighted average of the closing sale price of its common stock on the Nasdaq Stock Market or other principal exchange for each of the 30 trading days immediately prior to the measurement date, or (ii) the fair market value of the net proceeds available for distribution to the Company’s stockholders in connection with a change in control as defined in the Company’s severance benefit plan, as determined in good faith by its Board of Directors, exceeds $750.0 million. The Company has determined that the Performance Award is subject to ASC 718, Compensation – Stock Compensation 2021 Employee Stock Purchase Plan In March 2021, the Company’s Board of Directors adopted the Company’s 2021 Employee Stock Purchase Plan (ESPP), which became effective immediately prior to the execution of the underwriting agreement in connection with the Company’s IPO. As of June 30, 2024, 28,846 shares have been issued under the ESPP. In September 2021, the compensation committee of the Company’s Board of Directors (Compensation Committee) adopted the Company’s 2021 UK Sharesave Sub-plan The Company did not recognize stock-based compensation expense related to the ESPP and the SAYE for the three and six months ended June 30, 2024. The stock-based compensation expense related to the ESPP and the SAYE for the three and six months ended June 30, 2023, was immaterial. Stock-Based Compensation Expense The following table summarizes stock-based compensation expense, including expense associated with options, TSUs, MSUs and award modifications for unvested options, reflected in the consolidated statements of operations and comprehensive loss (in thousands): Three Months Ended June 30, Six Months Ended June 30,   2024     2023     2024     2023   Research and development $ 244 $ 494 $ 497 $ 967 General and administrative 745 713 1,570 1,397 Total $ 989 $ 1,207 $ 2,067 $ 2,364	9. Stock-Based Compensation In March 2021, the Company’s Board of Directors adopted the Company’s 2021 Equity Incentive Plan (2021 Plan), which is the successor to the Company’s 2014 Equity Incentive Plan (2014 Plan). As of the effective date of the 2021 Plan, awards granted under the 2014 Plan that are forfeited or otherwise become available under the 2014 Plan will be included and available for issuance under the 2021 Plan. Under the 2021 Plan, the Company may grant stock options, stock appreciation rights, restricted stock awards, restricted stock units, and other awards to individuals who are employees, officers, directors or consultants of the Company and its affiliates. Under the 2014 Plan, certain employees were granted the ability to early exercise their options. The shares of common stock issued pursuant to the early exercise of unvested stock options are restricted and continue to vest over the requisite service period after issuance. The Company has the option to repurchase any unvested shares at the original purchase price upon any voluntary or involuntary termination. The shares purchased by the employees pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be outstanding until those shares vest. As of December 31, 2023, there were no unvested shares of common stock outstanding that were issued pursuant to the early exercise of stock options. Shares Reserved for Future Issuance As of December 31, 2023, the Company had reserved shares of its common stock for future issuance as follows: Shares Common stock options outstanding 530,125 Unvested restricted stock units 32,650 Available for future grants under the 2021 Equity Incentive Plan 210,922 Available for future grants under the 2021 Employee Stock Purchase Plan 44,589 Total shares of common stock reserved 818,286 Stock Options A summary of the Company’s stock option activity and related information for the year ended December 31, 2023 is as follows: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Aggregate Intrinsic Value (in Outstanding at December 31, 2022 587,774 $ 44.68 8.2 $ 907 Granted 57,891 68.54 Exercised (17,382 ) 23.11 Forfeited/Expired (98,158 ) 46.86 Outstanding at December 31, 2023 530,125 $ 47.59 6.9 $ —  Vested at December 31, 2023 322,834 $ 49.14 6.1 $ —  Exercisable at December 31, 2023 359,212 $ 49.12 6.2 $ —  Options exercisable at December 31, 2023 include vested options and options eligible for early exercise. All outstanding options as of December 31, 2023 are expected to vest. Unrecognized stock-based compensation expense at December 31, 2023 was $5.9 million, which is expected to be recognized over a weighted-average vesting term of 2.0 years. The Company estimates stock awards fair value on the date of grant using the Black-Scholes valuation, with the vesting being subject to service requirements. The Company accounts for forfeitures when they occur. The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants were as follows: Year Ended December 31, 2023 2022 Risk-free interest rate 4.0 % 3.4 % Expected volatility 88.6 % 84.8 % Expected term (in years) 5.9 6.0 Expected dividend yield —  % —  % Risk-free interest rate. zero-coupon Expected volatility. Expected term. Expected dividend yield. Restricted Stock Units (RSUs) RSUs consist of time-based units (TSUs), performance-based units (PSUs) and market-based units (MSUs). The following table summarizes RSU activities during the year ended December 31, 2023: Number of Weighted- Average Grant Date Per Share Value Unvested at December 31, 2022 32,950 $ 56.70 Granted 13,700 58.19 Cancelled (14,000 ) 53.54 Unvested at December 31, 2023 32,650 $ 58.98 Time-Based Units TSUs typically vest over four years, with 25% vesting on the one-year Performance-Based Units The vesting of the PSUs is based on the Company achieving certain regulatory milestones and is subject to the employee’s continued employment with the Company through the achievement date. The fair value of the awards was based on the value of the Company’s common stock at the grant date of the award and expense recognition is based on the probability of achieving the performance conditions. Stock-based compensation expense is adjusted in future periods for subsequent changes in the expected outcome of the performance conditions. The Company had 14,950 unvested shares underlying PSUs as of December 31, 2023. The Company concluded that achievement of the performance conditions was not probable as of December 31, 2023 and 2022, and therefore no stock-based compensation expense was recognized for the years ended December 31, 2023 and 2022 in connection with the PSUs. As of December 31, 2023, there was $1.1 million of unrecognized stock-based compensation expense related to PSUs that were deemed not probable of vesting. Market-Based Units The vesting of the MSUs is based on the Company’s closing stock price trading above $200 per share for 30 consecutive trading days subject to the employee’s continued employment with the Company through the date of achievement. The share price of the Company’s common stock on the date of issuance of the MSUs was $27.80 per share. The fair value was based on Monte Carlo simulation model on the grant date. Stock-based compensation expense is recognized over the derived service period of approximately 3 years. The Company had 12,000 unvested shares underlying MSUs as of December 31, 2023. Stock-based compensation expense related to the MSUs during the years ended December 31, 2023 and 2022 was immaterial. As of December 31, 2023, unrecognized stock-based compensation expense related to the MSUs was immaterial. Performance Award In connection with the CEO’s employment agreement, he is entitled to receive a Performance Award in the amount of $7.5 million, payable in cash, common stock or a combination of cash and common stock, at the election of the Company, in the event that (i) the Company’s market value exceeds $750.0 million utilizing the volume-weighted average of the closing sale price of its common stock on the Nasdaq Stock Market or other principal exchange for each of the 30 trading days immediately prior to the measurement date, or (ii) the fair market value of the net proceeds available for distribution to the Company’s stockholders in connection with a change in control as defined in the Company’s severance benefit plan, as determined in good faith by its Board of Directors, exceeds $750.0 million. The Company has determined that the Performance Award is subject to ASC 718, Compensation – Stock Compensation 2021 Employee Stock Purchase Plan In March 2021, the Company’s Board of Directors adopted the ESPP, which became effective immediately prior to the execution of the underwriting agreement in connection with the Company’s IPO. As of December 31, 2023, 28,846 shares have been issued under the ESPP. In September 2021, the compensation committee of the Company’s Board of Directors adopted the Company’s 2021 UK Sharesave Sub-plan The stock-based compensation expense related to the ESPP and the SAYE for the years ended December 31, 2023 and 2022, was $0.4 million and $0.2 million, respectively. Stock-Based Compensation Expense The following table summarizes stock-based compensation expense, including expense associated with options, TSUs, MSUs and award modifications for unvested options, reflected in the consolidated statements of operations and comprehensive loss (in thousands): Year Ended December 31,  2023   2022  Research and development $ 1,815 $ 1,593 General and administrative 3,297 2,727 Total $ 5,112 $ 4,320

License Agreement

License Agreement	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
RENEO PHARMACEUTICALS INC [Member]
License Agreement [Line Items]
License Agreement	9. License Agreement In December 2017, the Company entered into a License Agreement (the vTv License Agreement) with vTv Therapeutics LLC (vTv Therapeutics), under which the Company obtained an exclusive, worldwide, sublicensable license under certain vTv Therapeutics intellectual property to develop, manufacture and commercialize PPAR d d Under the terms of the vTv License Agreement, the Company has paid vTv Therapeutics an initial upfront license fee of $3.0 million and $2.0 million of milestone payments and issued an aggregate of 57,643 shares of its common stock to vTv Therapeutics. On October 30, 2023, the Company repurchased from vTv Therapeutics all 57,643 shares of its common stock previously issued to vTv Therapeutics under the vTv License Agreement for an aggregate purchase price of approximately $4.4 million in a private, non-underwritten Upon the achievement of certain pre-specified mid-single Although the Company has suspended development activities related to mavodelpar, it will continue to maintain and prosecute mavodelpar intellectual property.	10. License Agreement In December 2017, the Company entered into a license agreement (the vTv License Agreement) with vTv Therapeutics LLC (vTv Therapeutics), under which the Company obtained an exclusive, worldwide, sublicensable license under certain vTv Therapeutics intellectual property to develop, manufacture and commercialize PPAR d d To date, the Company has paid a $3.0 million upfront payment, $2.0 million in milestone payments and issued an aggregate of 57,643 shares of its common stock to vTv Therapeutics. On October 30, 2023, the Company repurchased from vTv Therapeutics all 57,643 shares of its common stock previously issued to vTv Therapeutics under the vTv License Agreement for an aggregate purchase price of approximately $4.4 million in a private, non-underwritten Upon the achievement of certain pre-specified mid-single

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes [Line Items]
Income Taxes	(8) INCOME TAXES Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be recovered or settled. The components of the income tax benefit are as follows: Year Ended 2023 2022 Federal tax at statutory rate 21.0 % 21.0 % State taxes, net of federal deduction 3.6 % 3.6 % R&D credits 0.2 % 2.4 % Other (0.1 )% (0.2 )% Change in valuation allowance (24.7 )% (27.2 )% Effective income tax rate —  —  Significant components of deferred income taxes are as follows (in thousands): As of December 31, 2023 2022 Net operating loss carryforward $ 9,027 $ 6,212 R&D Tax credit 837 836 Deferred R&D expenses 11,123 5,198 Accrued expenses 783 881 Share-based compensation 104 91 Other 337 281 Total net deferred tax asset 22,211 13,499 Valuation allowance (22,211 ) (13,499 ) Net deferred tax asset $ —  $ —  As of December 31, 2023, the Company had approximately $1.5 million of net operating loss carryforwards (“NOLs”) and $0.8 million of research and experimental credits which expire through 2037, and approximately $35.2 million of federal and state net operating loss carryforwards which have an indefinite life. Pursuant to Internal Revenue Code (“IRC”) Sections 382 and 383, the Company’s ability to use NOLs and research tax credit carry forwards to offset future taxable income may be limited if the Company experiences a cumulative change in ownership of more than 50% within a three-year testing period. The Company has not completed an ownership change analysis pursuant to IRC Section 382. If ownership changes within the meaning of IRC Section 382 are identified as having occurred, the amount of NOLs and research tax carryforwards available to offset future taxable income and income tax liabilities in future years may be significantly restricted or eliminated. Further, deferred tax assets associated with such NOLs and research tax credits could be significantly reduced upon realization of an ownership change within the meaning of IRC Section 382. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible. Management considers projected future taxable income and tax planning strategies in making this assessment. The Company’s federal and state income tax returns for all years will remain open to examination by federal and state tax authorities for three years from the date of utilization of any net operating loss carryforwards.
RENEO PHARMACEUTICALS INC [Member]
Income Taxes [Line Items]
Income Taxes	11. Income Taxes The Company’s net loss was generated in the following jurisdictions (in thousands): Year Ended December 31, 2023 2022 Domestic $ (78,132 ) $ (51,994 ) Foreign 744 39 Net loss $ (77,388 ) $ (51,955 ) The components of net deferred taxes consisted of the following ( i thousand As of December 31, 2023 2022 Deferred tax assets: NOL carryforwards $ 23,490 $ 16,381 Capitalized research and development expenses 15,274 7,465 Credit carryforwards 6,111 4,061 Intangible assets 2,902 3,202 Compensation accruals 1,885 989 Operating lease liabilities 245 316 Depreciation 89 78 Other 2 2 Gross deferred tax assets 49,998 32,494 Less valuation allowance (49,872 ) (32,214 ) Total deferred tax assets 126 280 Deferred tax liabilities: ROU assets (126 ) (280 ) Net deferred tax assets (liabilities) $ —  $ —  For the years ended December 31, 2023 and 2022, the Company recorded no provision for income taxes. A reconciliation of the effective tax rate to the amount computed by applying the statutory federal income tax rate to the loss from operations is summarized for the years ended December 31, 2023 and 2022, as follows: As of December 31, 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % Tax credits, net 2.5 % 3.4 % Return-to-provision 0.1 % 0.5 % Other (0.1 )% (0.8 )% GILTI inclusion (0.4 )% (0.3 )% Foreign Rate Differential (0.1 )% —  Valuation allowance (23.0 )% (23.8 )% U.S. federal effective tax rate    0.0 %    0.0 % The Company had federal net operating loss (NOL) carryforwards available of approximately $110.9 million as of December 31, 2023, before consideration of limitations under Section 382 of the Internal Revenue Code of 1986, as amended (Section 382), as further described below. The federal NOLs generated after 2017 of $109.3 million will carry forward indefinitely. NOLs generated prior to 2018 of $1.6 million will begin to expire in 2034. Additionally, the Company had state NOL carryforwards available of $1.8 million as of December 31, 2023. The state NOLs may be used to offset future taxable income and will begin to expire in 2034. The Company has generated UK NOLs of $0.2 million which carryforward indefinitely. At December 31, 2023, the Company had federal and state tax credit carry forwards of approximately $16.9 million and $0.7 million, respectively. The Company has not performed a formal research and development credit study with respect to these credits. The federal credits will begin to expire in 2034, if unused, and the state credits carry forward indefinitely. The future utilization of the Company’s NOL and tax credit carryforwards to offset future taxable income may be subject to a substantial annual limitation as a result of changes in ownership by stockholders that hold 5% or more of the Company’s common stock. An assessment of such ownership changes under Section 382 was not completed through December 31, 2023. To the extent that an assessment is completed in the future, the Company’s ability to utilize tax attributes could be restricted on a year-by-year The Company has elected to record the inclusion related to the Global Intangible Low-Taxed The Company has established a full valuation allowance for its deferred tax assets due to uncertainties that preclude it from determining that it is more likely than not that the Company will be able to generate sufficient taxable income to realize such assets. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2023. Such objective evidence limits the ability to consider other subjective evidence such as the Company’s projections for future growth. Based on this evaluation, as of December 31, 2023, a full valuation allowance of $49.9 million has been recorded against the Company net deferred tax assets, as the Company has determined that none of the Company’s balance of deferred tax assets is more likely than not to be realized. The amount of the deferred tax assets considered realizable, however, could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence, such as estimates of future taxable income during carryforward periods and the Company’s projections for growth. The following table summarizes the changes to unrecognized tax benefits (in thousands): Year Ended December 31,  2023   2022  Beginning balance of unrecognized tax benefits $ 7,094 $ 2,999 Additions based on tax positions related to the current year 4,331 4,095 Ending balance of unrecognized tax benefits $ 11,425 $ 7,094 The amount of the unrecognized tax benefits that would impact the effective tax rate, absent the valuation allowance, would be $11.0 million. Due to the full valuation allowance, the impact, however, is zero. At December 31, 2023 and 2022, the Company has not accrued any interest or penalties related to uncertain tax positions. The Company does not anticipate that there will be a significant change in the amount of unrecognized tax benefits over the next 12 months. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company is subject to taxation in the United States and the UK. The Company’s federal and state returns since inception are subject to examination due to the carryover of net operating losses. The Company has not been, nor is it currently, under examination by any tax authorities. The UK tax returns from 2018 forward are subject to examination by the UK tax authorities.

Commitments and contingencies

Commitments and contingencies	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies [Line Items]
Commitments and contingencies	(9) COMMITMENTS AND CONTINGENCIES Indemnification In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs because of such indemnifications. The Company is not aware of any claims under indemnification arrangements, and it has not accrued any liabilities related to such obligations in its financial stat em	(9) COMMITMENTS AND CONTINGENCIES Clinical Trial Collaboration and Supply Agreement with Pfizer In August 2020, the Company entered into a clinical trial collaboration and supply agreement under which Pfizer Inc. (“Pfizer”) agreed to supply drug product in connection with a clinical trial. The agreement continues until the earlier of the completion of all obligations of the parties or the termination of the contract by either party as defined in the agreement. The Company may terminate the agreement if the clinical trial is deemed to be unsafe, regulatory authorities raise concerns, or if Pfizer does not uphold its obligations outlined in the agreement. Indemnification In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs because of such indemnifications. The Company is not aware of any claims under indemnification arrangements, and it has not accrued any liabilities related to such obligations in its financial statements as of December 31, 2023.
RENEO PHARMACEUTICALS INC [Member]
Commitments and Contingencies [Line Items]
Commitments and contingencies		12. Commitments and Contingencies Legal Proceedings The Company is currently not a party to any legal proceedings, nor is the Company aware of any threatened or pending litigation. However, from time-to-time 401(k) Plan The Company maintains a defined contribution 401(k) plan available to eligible employees. Employee contributions are voluntary and are determined on an individual basis, limited to the maximum amount allowable under federal tax regulations. Matching contributions to the 401(k) plan are made for certain eligible employees to meet non-discrimination

Proposed Merger

Proposed Merger	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Proposed Merger	(10) PROPOSED MERGER In May 2024, the Company entered into a definitive merger agreement with Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM) (“Reneo”) to combine the Company with Reneo in an all-stock In connection with the transaction, Reneo has entered into a subscription agreement for a $65 million private investment in public equity (PIPE) financing expected to close concurrently with the closing of the merger, with a group of institutional investors. Pre-merger pre-merger pre-Mergers pre-Mergers The transaction is expected to close in the second half of 2024, subject to customary closing conditions, including requisite approvals by the stockholders of each company and the receipt of required regulatory approvals (to the extent applicable).

Convertible Promissory Notes

Convertible Promissory Notes	6 Months Ended
	Jun. 30, 2024
Convertible Promissory Note [Abstract]
Convertible Promissory Notes	(11) CONVERTIBLE PROMISSORY NOTES In June 2024, the Company entered into convertible promissory note agreements with certain of its existing investors for up to $12.0 million. At close, the company received total proceeds of $6.0 million and may draw up to an additional $6.0 million in the event the merger with Reno has not closed by September 30, 2024. The notes bear interest rates from 6% to 8% per annum. All unpaid principal and accrued interest are due in December 2025, unless earlier converted. No principal or interest is due until maturity. The Company incurred $142,000 of debt issuance costs related to the convertible promissory notes during the three and six months ended June 30, 2024. Debt issuance costs are amortized as a component of interest expense over the term of the related debt using the straight-line method, which approximates the interest method. The Company recognized $1,000 in interest expense related to the amortization of the debt issuance costs for the three and six months ended June 30, 2024. The unpaid notes will automatically convert into shares issued in the concurrent PIPE financing at the price per share paid by investors in the concurrent PIPE financing. In the event that the notes have not been converted before a certain date, the note holders have the option to convert the outstanding notes into Series C Preferred stock at a discount. In the event that the company completes a qualified financing, as defined, and the notes have not been converted before a certain date the notes will automatically convert on a qualified financing at a discount.

Financial Impact of Suspension

Financial Impact of Suspension of Mavodelpar Development Activities	12 Months Ended
	Dec. 31, 2023
RENEO PHARMACEUTICALS INC [Member]
Financial Impact of Suspension of Mavodelpar Development Activities [Line Items]
Financial Impact of Suspension of Mavodelpar Development Activities	13. Financial Impact of Suspension of Mavodelpar Development Activities On December 14, 2023, the Company announced that its pivotal STRIDE study did not meet its primary or secondary efficacy endpoints. As a result, the Company suspended the development activities of its only product candidate, mavodelpar, and implemented cash preservation activities, including substantial workforce reductions. In December 2023, the Company implemented a workforce reduction and recognized approximately $2.5 million in severance and continuation of benefit expenses for the year ended December 31, 2023. In addition, the Company assessed the impairment of its ROU and fixed assets due to the suspension of mavodelpar’s development activities and concluded that its current leases and leasehold improvements were impaired. The Company

Subsequent Events

Subsequent Events	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Subsequent Events	(12) SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the financial statements are issued.	(10) SUBSEQUENT EVENTS The Company has evaluated subsequent events through May 13, 2024, the date the financials were available to be issued. In May 2024, the Company entered into a definitive merger agreement with Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM) (“Reneo”) to combine the Company with Reneo in an all-stock In connection with the transaction, Reneo has entered into a subscription agreement for a $65 million private investment in public equity (PIPE) financing expected to close concurrently with the closing of the merger, with a group of institutional investors. Pre-merger pre-merger The transaction is expected to close in 2024, subject to customary closing conditions, including approval by the stockholders of each company.
RENEO PHARMACEUTICALS INC [Member]
Subsequent Event [Line Items]
Subsequent Events		14. Subsequent Events In February 2024, the Company implemented a second workforce reduction. As a result of this workforce reduction, the Company will recognize approximately $1.6 million in severance and continuation of benefit expenses in first quarter of 2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying unaudited financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company recommends that these unaudited financial statements be read in conjunction with the audited financial statements and the notes thereto included in the Company’s audited financial statements for the year ended December 31, 2023. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of the financial statements, have been included in the accompanying unaudited financial statements. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year.	Basis of Presentation The accompanying financial statements as of and for the year ended December 31, 2023, and as of December 31, 2022, include the accounts of OnKure, Inc. The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include all adjustments necessary for the fair presentation of the Company’s financial position, results of operations, and cash flows for the periods presented.
Segment Information		Segment Information The Company operates in one operating segment and, accordingly, no segment disclosures have been presented herein. All equipment and other fixed assets are physically located within the United States.
Use of Estimates	Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Although these estimates are based on the Company’s knowledge of current events and actions it may take in the future, actual results may ultimately differ from these estimates. The most significant estimates relate to external research and development expenses, and the fair value of stock options and restricted stock awards and units.	Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Although these estimates are based on the Company’s knowledge of current events and actions it may take in the future, actual results may ultimately differ from these estimates. The most significant estimates relate to external research and development expenses,and the fair value of stock options and restricted stock awards and units.
Comprehensive Income or Loss		Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner
Research and Development Expenses		Research and Development Expenses Research and development (“R&D”) costs are expensed as incurred in performing research and development activities. The costs include employee-related expense, including salaries, benefits, share-based compensation, fees for acquiring and maintaining licenses under third-party license agreements, consulting fees, costs of research and development activities conducted by third parties on the Company’s behalf, costs to manufacture or have manufactured clinical trial materials, depreciation, and facilities and overhead costs.
Accrued Research and Development Expenses		Accrued Research and Development Expenses The Company records research and development expenses in the period in which the Company receives or takes ownership of the applicable goods or when the applicable services are performed. The Company is required to
Patent Costs		Patent Costs The Company expenses all costs as incurred in connection with patent applications (including direct application fees and the legal and consulting expenses related to making such applications) and such costs are included in general and administrative expenses in the statements of operations and comprehensive loss.
Stock-Based Compensation		Share-Based Compensation The Company maintains an equity incentive compensation plan under which incentive stock options and nonqualified stock options to purchase common stock, and restricted stock units for common stock, are granted to employees, board of directors, and non-employee The Black-Scholes valuation method requires certain assumptions be used as inputs, such as the fair value of the underlying common stock, expected term of the option before exercise, expected volatility of the Company’s common stock, risk-free interest rate and expected dividend. Options granted have a maximum contractual term of 10 years. The Company has limited historical stock option activity and therefore estimates the expected term of stock options granted using the simplified method, which represents the arithmetic average of the original contractual term of the stock option and its weighted-average vesting term. The expected volatility of stock options is based on the historical volatility of several publicly traded companies in similar stages of clinical development. The Company will continue to apply this process until enough historical information regarding the volatility of its stock price becomes available. The risk-free interest rates used are based on the U.S. Treasury yield in effect at the time of grant for zero-coupon U.S. treasury
Common Stock Valuation		Common Stock Valuation Due to the lack of marketability for the Company’s common stock, the Company utilizes methodologies, approaches and assumptions consistent with the American Institute of Certified Public Accountants’ Audit and Accounting Practice Guide: Valuation of Privately-Held Company Equity Securities Issued as Compensation to estimate the fair value of its common stock. In determining the exercise prices for options granted, the Company has considered the fair value of the common stock as of the grant date. The fair value of the common stock has been determined based upon a variety of factors, including the prices at which the Company sold shares of its convertible preferred stock to outside investors in arms-length transactions, and the superior rights, preferences and privileges of the preferred stock relative to the common stock at the time of each grant; the progress of the Company’s research and development programs, including their stages of development, and the Company’s business strategy; external market and other conditions affecting the biotechnology industry, and trends within the biotechnology industry; the Company’s financial position, including cash on hand, and its historical and forecasted performance and operating results; the lack of an active public market for the Company’s common stock; and the market performance of peer companies in the biopharmaceutical industry. Significant changes to the key assumptions underlying the factors used could result in different fair values of common stock at each valuation date.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1 — Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 — Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. The Company had no Level 2 valuations for the periods ended June 30, 2024, or year ended December 31, 2023, respectively. Level 3 — Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The Company had no Level 3 valuations for the periods ended June 30, 2024, or year ended December 31, 2023, respectively. The carrying amounts of the Company’s financial assets and liabilities, such as cash, receivables, prepaid and other current assets, accounts payable, notes payable, and accrued expenses approximate their fair values because of the short maturity of these instruments.	Fair Value of Financial Instruments The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1 —Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 —Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. The Company had no Level 2 valuations for the year ended December 31, 2023 and 2022, respectively. Level 3 —Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The Company had no Level 3 valuations for the year ended December 31, 2023 and 2022, respectively. The carrying amounts of the Company’s financial assets and liabilities, such as cash, receivables, prepaid and other current assets, accounts payable, and accrued expenses approximate their fair values because of the short maturity of these instruments.
Cash and Cash Equivalents		Cash and Cash Equivalents All highly liquid investments with maturities of 90 days or less, at the time of purchase, are classified as cash equivalents. Cash equivalents are reported at cost, which approximates fair value. The Company’s cash and cash equivalents consist of money held in demand depository accounts and money market funds. The carrying amount of cash and cash equivalents was $29.9 million and $11.5 million as of December 31, 2023, and 2022, respectively, which approximates fair value and was determined based upon Level 1 inputs. The money market account is valued using quoted market prices with no valuation adjustments applied and is categorized as Level 1.
Concentration of Credit Risk		Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions above federally insured limits of $250,000 as of December 31, 2023, and 2022. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held and of the money market funds in which these investments are made.
Property and Equipment, Net		Property and Equipment The Company carries its property and equipment at cost, less accumulated depreciation, amortization and impairment, if any. Expenditures for renewals or betterments that materially extend the useful life of an asset or increase its productivity, such as leasehold improvements, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally between three to seven years. Leasehold improvements are amortized over the shorter of the life of the lease (including any renewal periods that are deemed to be reasonably assured) or the estimated useful life of the assets. Repair and maintenance costs are expensed as incurred and expenditures for major improvements are capitalized.  The following summarizes the components of property and equipment (in thousands): December 31, 2023 2022 Lab equipment $ 706 $ 669 Leasehold improvements 1,090 1,004 Computer hardware and software 141 84 Furniture and fixtures 160 95 Property and equipment, gross 2,097 1,852 Less: accumulated depreciation and amortization (665 ) (248 ) Property and equipment, net $ 1,432 $ 1,604
Leasing – Lessee Accounting		Leasing – Lessee Accounting The Company determines if an arrangement is a lease at inception. The Company’s operating lease agreements are primarily for office space and research labs. For operating leases with a term greater than one year, the Company recognizes the right-of-use As the interest rate implicit in the Company’s leases is not readily determinable, the Company uses its estimated incremental borrowing rate in its present value calculations. One of the Company’s lessee agreements include an option to extend the lease, which the Company does not include in its minimum lease term unless it is reasonably certain to exercise such option. Operating leases with a term of less than one year are recognized as a lease expense over the term of the lease, with no asset or liability recognized on the balance sheet.
Impairment of Long-Lived Assets		Impairment of Long-lived Assets The Company assesses the carrying amount of its property and equipment whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. No impairment charges were recorded during the years ended December 31, 2023, and 2022.
Income Taxes		Income Taxes Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently payable and deferred taxes. The Company accounts for income taxes using the asset and liability method of accounting for deferred income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and operating losses and tax credit carryforwards. A valuation allowance is recorded to the extent it is more likely than not that some portion of a deferred tax asset will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company’s significant deferred tax assets are net operating loss carryforwards, tax credits, and accruals. The Company has provided a valuation allowance equal to its net deferred tax assets since inception as, due to its history of operating losses, the Company has concluded that it is more likely than not that most of its deferred tax assets will not be realized. Accounting for uncertain tax positions requires a more likely than not threshold for recognition in the financial statements. The Company recognizes a tax benefit based on whether it is more likely than not that a tax position will be sustained. The Company records a liability to the extent that a tax position taken or expected to be taken on a tax return exceeds the amount recognized in the financial statements. The Company has no unrecognized tax benefits as of December 31, 2023, and 2022. The Company classifies interest and penalties arising from the underpayment of income taxes in the statements of operations as general and administrative expenses. No such expenses have been recognized during the years ended December 31, 2023, and 2022.
Employee Benefit Plan		Employee Benefit Plan The Company established a qualified 401(k) plan in June 2021 which covers all employees who meet eligibility requirements. The Company matches its employee contributions up to a maximum amount of 4
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures 2023-09”), The Company continues to monitor new accounting pronouncements issued by the FASB and does not believe any accounting pronouncements issued through the date of this report will have a material impact on its financial statements.	Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures 2023-09”), income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this pronouncement. The Company continues to monitor new accounting pronouncements issued by the FASB and does not believe any accounting pronouncements issued through the date of this report will have a material impact on its financial statements.
RENEO PHARMACEUTICALS INC [Member]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The Company has prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted, although the Company believes that the disclosures made are adequate to make the information not misleading. The Company recommends that the unaudited consolidated financial statements be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair statement of the financial statements, have been included in the accompanying unaudited financial statements. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. The accompanying unaudited consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.	Basis of Presentation and Consolidation The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP) and reflect the operation of the Company and its wholly owned subsidiary. All intercompany balances and transactions among the consolidated entities have been eliminated in consolidation.
Use of Estimates		Use of Estimates The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure in the Company’s consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.
Comprehensive Income or Loss		Comprehensive Income or Loss Comprehensive income or loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner
Research and Development Expenses		Research and Development Costs and Accruals All research and development costs are expensed as incurred. Research and development costs consist primarily of costs associated with manufacturing drug substance and drug product, costs associated with preclinical studies, clinical trials managed through contract research organizations (CROs) and other third parties, license fees, salaries and employee benefits. The Company bases its expense accruals related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on its behalf. The financial terms of these agreements vary from contract to contract and may result in uneven payment flows. Payments under certain contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing costs, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. Nonrefundable advance payments for goods and services, including fees for process development or manufacturing and distribution of clinical supplies that will be used in future research and development activities, are deferred and recognized as expense in the period that the related goods are consumed, or services are performed. To date, the Company has not experienced significant changes in its estimates of accrued research and development expenses after a reporting
Stock-Based Compensation		Stock-Based Compensation The Company recognizes stock-based compensation expense for grants under its 2014 and 2021 Equity Incentive Plans and employee stock purchase plan (ESPP). The Company accounts for all stock-based awards granted to employees and directors at their fair value and recognizes compensation expense over the award’s vesting period. Determining the amount of stock-based compensation to be recorded requires the Company to develop estimates of fair values of stock options as of the grant date. The Company calculates the grant date fair values of stock options using the Black-Scholes valuation model, which requires the input of subjective assumptions, including but not limited to expected stock price volatility over the term of the awards and the expected term of stock options. The fair value of restricted stock awards granted to employees is based on the quoted closing market price per share on grant date. The Company granted restricted stock awards with performance conditions that are based upon the achievement of pre-specified The Company granted restricted stock awards with market conditions. The Company measures the fair value of stock-based awards with market-based vesting conditions on the date of grant using a Monte Carlo simulation model. In accordance with accounting guidance for awards with market conditions, the stock-based compensation expense will be recognized over the derived service period regardless of whether the award achieves the market condition and will only be adjusted to the extent the service condition is not met.
Cash and Cash Equivalents		Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less, when purchased, to be cash equivalents. As of December 31, 2023 and 2022, the Company had cash balances deposited at major financial institutions. Cash balances are subject to minimal credit risk as the balances are with high credit quality financial institutions. Cash and cash equivalents include cash in readily available checking, money market accounts and repurchase agreements.
Concentration of Credit Risk		Concentration of Credit Risk Financial instruments, which potentially subject the Company to significant concentration of credit risk, consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.
Property and Equipment, Net		Property and Equipment, Net Property and equipment are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Maintenance and repairs are expensed as incurred. The following estimated useful lives were used to depreciate or amortize the Company’s assets: Estimated Useful Life Furniture and fixtures 5 years Computers and software 3 years Leasehold improvements Shorter of useful life or remaining lease term
Short-term Investments		Short-term Investments The Company accounts for short-term investments in accordance with Accounting Standard Codification (ASC) Topic 320, Investments – Debt and Equity Securities At December 31, 2023, the Company’s investments comprised of U.S. treasury securities and commercial paper classified as available-for-sale Available-for-sale When the fair value of an available-for-sale available-for-sale Money market account balances are included as cash and cash equivalents on the consolidated balance sheets, which are also disclosed in Note 4, Fair Value Measurements
Leasing – Lessee Accounting		Leases The Company determines if an arrangement includes a lease at inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company’s lease terms may include options to extend or terminate a lease when it is reasonably certain that it will exercise that option. The Company combines lease and non-lease Right-of-use
Impairment of Long-Lived Assets		Impairment of Long-Lived Assets Long-lived assets consist primarily of property and equipment. Long-lived assets are evaluated for impairment when events and circumstances indicate the assets might be impaired by first comparing the estimated future undiscounted cash flows of the asset or asset group to the carrying value. If the carrying value exceeds the estimated future undiscounted cash flows, an impairment loss is recognized based on the amount that the carrying value exceeds the fair value of the asset or asset group. As a result of suspending development activities of the Company’s only product candidate, mavodelpar, the Company recognized $ right-of-use
License Fees		License Fees The Company expenses amounts paid to acquire licenses associated with products under development when the ultimate recoverability of the amounts paid is uncertain and the technology has no alternative future use when acquired. Acquisitions of technology licenses are charged to expense or capitalized based upon management’s assessment regarding the ultimate recoverability of the amounts paid and the potential for alternative future use. The Company has determined that technological feasibility for its product candidate would be reached when the requisite regulatory approvals are obtained to make the product available for sale. Contingent milestone payments are recognized when the related contingency is resolved, and the amounts are paid or become payable. These amounts are expensed to research and development if there is no alternative future use associated with the license or capitalized as an intangible asset if alternative future use of the license exists.
Foreign Currency Transactions		Foreign Currency Transactions The functional currency of Reneo Pharma Ltd, the Company’s wholly owned subsidiary in the UK, is the U.S. dollar. All foreign exchange transactional and remeasurement gains and losses are recognized in the consolidated statements of operations and comprehensive loss. For the years ended December 31, 2023 and 2022, total foreign currency gains and losses were immaterial.
Income Taxes		Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning The Company records uncertain tax positions on the basis of a two-step likely more-likely-than-not The Company is subject to taxation in the United States and the United Kingdom (UK). As of December 31, 2023, the Company’s tax years since inception are subject to examination by taxing authorities in the United States, and the UK tax returns from 2018 forward are subject to examination.
Recently Issued Accounting Pronouncements	New Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on the Company’s financial position, operations or cash flows.	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standard Board (FASB) issued Accounting Standard Update (ASU) 2016-13, Financial Instruments - Credit Losses Measurement of Credit Losses on Financial Instruments available-for-sale Recent Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023- 09, Income Taxes Improvements to Income Tax

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule Of the Components Of Property and Equipment	The following summarizes the components of property and equipment (in thousands): December 31, 2023 2022 Lab equipment $ 706 $ 669 Leasehold improvements 1,090 1,004 Computer hardware and software 141 84 Furniture and fixtures 160 95 Property and equipment, gross 2,097 1,852 Less: accumulated depreciation and amortization (665 ) (248 ) Property and equipment, net $ 1,432 $ 1,604
RENEO PHARMACEUTICALS INC [Member]
Schedule of Property Plant and Equipment useful lives	The following estimated useful lives were used to depreciate or amortize the Company’s assets: Estimated Useful Life Furniture and fixtures 5 years Computers and software 3 years Leasehold improvements Shorter of useful life or remaining lease term

Net Loss Attributable To Comm_2

Net Loss Attributable To Common Stockholders Per Share (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Anti-dilutive securities not included in diluted net loss per share calculation	Outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following: As of June 30, 2024 2023 Options to purchase common stock 8,299,737 2,991,710 Restricted stock units 1,476,715 —  Total 9,776,452 2,991,710
RENEO PHARMACEUTICALS INC [Member]
Schedule of Anti-dilutive securities not included in diluted net loss per share calculation	Historical outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following: As of June 30, 2024 2023 Common stock options outstanding 467,129 600,118 Unvested restricted stock units 31,150 36,450 Total 498,279 636,568	Historical outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following: As of December 31, 2023 2022 Common stock options outstanding 530,125 587,774 Unvested restricted stock units 32,650 32,950 Total 562,775 620,724

Fair Value Measurements (Tables

Fair Value Measurements (Tables) - RENEO PHARMACEUTICALS INC [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of recurring fair value measurement of the Company's assets and liabilities	The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at June 30, 2024 consisted of the following (in thousands): Quoted Significant Significant Total Assets Cash and cash equivalents: Money market investments $ 21,717 $ —  $ —  $ 21,717 U.S. treasury securities —  12,934 —  12,934 Short-term investments: U.S. treasury securities —  40,611 —  40,611 Total $ 21,717 $ 53,545 $ —  $ 75,262 Liabilities Performance award $ —  $ —  $ 8 $ 8 Total $ —  $ —  $ 8 $ 8 The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at December 31, 2023 consisted of the following (in thousands): Quoted Significant Significant Total Assets Cash and cash equivalents: Money market investments $ 10,983 $ —  $ —  $ 10,983 U.S. treasury securities —  9,928 —  9,928 Short-term investments: U.S. treasury securities —  75,331 —  75,331 Total $ 10,983 $ 85,259 $ —  $ 96,242 Liabilities Performance award $ —  $ —  $ 7 $ 7 Total $ —  $ —  $ 7 $ 7	The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at December 31, 2023 consisted of the following (in thousands): Quoted Significant Significant (Level 3) Total Assets Cash and cash equivalents: Money market investments $ 10,983 $ —  $ 10,983 U.S. treasury securities —  9,928 —  $ 9,928 Short-term investments: U.S. treasury securities —  75,331 —  75,331 Total $ 10,983 $ 85,259 $ —  $ 96,242 Liabilities Performance award $ —  $ —  $ 7 $ 7 Total $ —  $ —  $ 7 $ 7 The recurring fair value measurement of the Company’s assets and liabilities measured at fair value at December 31, 2022 consisted of the following (in thousands): Quoted Significant Significant Unobservable (Level 3) Total Assets Cash and cash equivalents: Money market investments $ 9,365 $ —  $ —  $ 9,365 Commercial paper —  4,978 —  4,978 Short-term investments: U.S. treasury securities —  76,253 —  76,253 Commercial paper —  4,993 —  4,993 Total $ 9,365 $ 86,224 $ —  $ 95,589 Liabilities Performance award $ —  $ —  $ 29 $ 29 Total $ —  $ —  $ 29 $ 29
Schedule Changes in fair value measurements of the Performance Award	The following table sets forth a summary of changes in the fair value measurements of the Performance Award liability (in thousands): Performance Balance as of January 1, 2024 $ 7 Change in fair value 1 Balance as of June 30, 2024 $ 8	The following table sets forth a summary of changes in the fair value measurements of the Performance Award liability (in thousands): Performance Balance as of January 1, 2023 $ 29 Change in fair value (22 ) Balance as of December 31, 2023 $ 7

Marketable Debt Securities (Tab

Marketable Debt Securities (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
RENEO PHARMACEUTICALS INC [Member]
Summary of Gross Unrealized Gains and Losses of Available-for-Sale Securities	The following tables summarize the gross unrealized gains and losses of the Company’s available-for-sale As of June 30, 2024 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 53,558 $ —  $ (13 ) $ 53,545 Total $ 53,558 $ —  $ (13 ) $ 53,545 As of December 31, 2023 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 75,324 $ 8 $ (1 ) $ 75,331 Total $ 75,324 $ 8 $ (1 ) $ 75,331	The following tables summarize the gross unrealized gains and losses of the Company’s available-for-sale As of December 31, 2023 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 75,324 $ 8 $ (1 ) $ 75,331 Total $ 75,324 $ 8 $ (1 ) $ 75,331 As of December 31, 2022 Amortized Gross Gross Fair Available-for-sale U.S. treasury securities $ 76,297 $ 2 $ (46 ) $ 76,253 Commercial paper 4,993 —  —  4,993 Total $ 81,290 $ 2 $ (46 ) $ 81,246

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Accrued expenses	Accrued expenses consisted of the following (in thousands): As of As of 2023 Accrued contract manufacturing costs $ 864 $ 1,627 Accrued compensation 1,707 1,663 Accrued legal 1,171 —  Accrued other 765 370 Total accrued expenses $ 4,507 $ 3,660	Accrued expenses consisted of the following (in thousands): Year Ended 2023 2022 Accrued contract manufacturing costs $ 1,627 $ 434 Accrued compensation 1,663 1,456 Accrued other 370 981 Total accrued expenses $ 3,660 $ 2,871
RENEO PHARMACEUTICALS INC [Member]
Schedule of Accrued expenses	Accrued expenses consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Accrued clinical and regulatory $ —  $ 3,661 Accrued contract manufacturing cost —  1,100 Accrued compensation 386 3,948 Accrued other 567 420 Total accrued expenses $ 953 $ 9,129	Accrued expenses consisted of the following (in thousands): As of December 31, 2023 2022 Accrued clinical and regulatory $ 3,661 $ 1,872 Accrued contract manufacturing cost 1,100 1,583 Accrued compensation* 3,948 807 Accrued other 420 565 Total accrued expenses $ 9,129 $ 4,827 * Accrued compensation includes severance costs. For further information see Note 13.

Leases (Tables)

Leases (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Maturities of Lease Liabilities	The aggregate maturities of the Company’s operating lease liabilities were as follows as of June 30, 2024 (in thousands): 2024 $ 118 2025 240 2026 247 Total future minimum lease payments 605 Less: Imputed interest (32 ) Total $ 573	The aggregate maturities of the Company’s operating lease liabilities were as follows as of December 31, 2023 (in thousands): 2024 $ 233 2025 240 2026 247 Total future minimum lease payments 720 Less: imputed interest (46 ) Total $ 674
Schedule of Right-of-use Assets and Lease Liabilities for Operating Leases		Right-of-use December 31, 2023 2022 Operating lease right-of-use $ 478 443 Current operating lease liabilities 208 151 Noncurrent operating lease liabilities 466 486 Total lease liabilities $ 674 637
Schedule of Lease Expense for Operating Leases		Lease expense for operating leases as included in the Company’s financial statements are as follows (in thousands): December 31, 2023 2022 Operating lease cost $ 173 152 Variable lease expense 201 150 Short-term lease expense —  —
Schedule of Additional Information for Operating Leases	Other information related to the Company’s operating leases are as follows:  As of June 30, 2024 2023 Weighted-average remaining lease term (years) 2.5 3.5 Weighted-average discount rate 4.50 % 4.50 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases (in thousands) $ 101 $ 100	Lease term, discount rates, and additional information for operating leases are as follows (in thousands):  December 31, 2023 2022 Weighted-average remaining lease term – operating leases (years) 2.92 3.85 Weighted-average discount rate – operating leases 4.50 % 4.50 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 210 $ 194
RENEO PHARMACEUTICALS INC [Member]
Schedule of Other Information Related to Operating Leases	Other information related to the Company’s operating leases as of the balance sheet dates presented are as follows: As of June 30, 2024 2023 Weighted incremental borrowing rate 5 % 5 % Weighted average remaining lease term (in years) 2.3 3.7 Cash paid for amounts included in the measurement of lease liabilities (in thousands) $ 194 $ 142 Lease expense (in thousands) $ 148 $ 241
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows (in thousands): As of June 30, 2024 2024 (remaining six months) $ 195 2025 371 2026 285 Total lease payments 851 Less: Imputed interest (28 ) Present value of lease liabilities $ 823	Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows: As of December 31, 2023 2024 $ 381 2025 367 2026 285 Total lease payments 1,033 Less: Imputed interest (60 ) Present value of lease liabilities $ 973

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2023
Features of Convertible Preferred Stock [Abstract]
Summary of convertible preferred stock nonredeemable or redeemable issuer	Convertible preferred stock consisted of the following (in thousands) except for share information: December 31, 2023 2022 Convertible preferred stock, Series A, $0.0001 par value; 2,758,788 shares issued and outstanding at December 31, 2022, liquidation preference of $5,222 as of December 31, 2022 —  4,975 Convertible preferred stock, Series A-1, —  5,162 Convertible preferred stock, Series B, $0.0001 par value; 20,649,758 shares issued and outstanding at December 31, 2022, liquidation preference of $57,061 as of December 31, 2022 —  54,252 Convertible preferred stock, Series C, $0.0001 par value; 51,141,064 authorized; 47,243,806 shares issued and outstanding at December 31, 2023; liquidation preference of $195,823 as of December 31, 2023. 129,825 —
Summary of convertible preferred stock	Prior Preferred stock: Series A Preferred Stock 2,758,788 Series A-1 2,413,906 Series B Preferred Stock 20,649,758 Total Prior Preferred stock 25,822,452 Shares issued for Prior Preferred: Series C Preferred Stock 27,780,350 Class A Common Stock 5,402,428 Total shares issued in exchange for Prior Preferred 33,182,778

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Summary of the Company's stock option activity	A summary of common stock option activity is as follows: Options Weighted Weighted Aggregate Outstanding as of December 31, 2023 7,197,551 $ 0.40 8.88 $ 16 Granted 854,795 $ 0.33 Exercised (90,374 ) $ 0.21 Canceled (20,324 ) $ 0.54 Outstanding as of June 30, 2024 7,941,648 $ 0.39 7.46 $ 2 Options exercisable as of June 30, 2024 4,289,295 $ 0.41 6.22 $ 2 Options vested and expected to vest as of June 30, 2024 7,710,235 $ 0.39 7.40 $ 2	A summary of common stock option activity is as follows: Options Weighted Weighted Aggregate Outstanding as of December 31, 2021 2,795,205 $ 0.46 8.72 $ —  Granted 1,240,168 $ 0.53 Exercised (828,305 ) $ 0.41 Canceled (105,764 ) $ 0.50 Outstanding as of December 31, 2022 3,101,304 $ 0.50 $ 243 Granted 4,368,378 $ 0.33 Exercised (148,412 ) $ 0.44 Canceled (123,719 ) $ 0.54 Outstanding as of December 31, 2023 7,197,551 $ 0.40 8.88 $ 16 Options exercisable as of December 31, 2023 2,585,640 $ 0.44 8.26 $ 16 Options vested and expected to vest as of December 31, 2023 6,903,294 $ 0.40 8.86 $ 16
Summary of weighted-average assumptions to determine the fair value of the employee stock option	The fair value was determined using the Black-Scholes option pricing model and the following weighted-average assumptions: Year ended 2023 2022 Expected term (years) 5.73 5.97 Expected volatility 32.0 % 36.6 % Risk-free interest rate 4.31 % 2.51 % Expected dividend yield —  —
Summary of RSU activities	A summary of restricted stock awards and restricted stock units activity are as follows: Shares Weighted Unvested balance as of December 31, 2023 1,481,122 $ 0.33 Vested outstanding (RSA) 4,407 $ 0.12 Unvested balance as of June 30, 2024 1,040,204 $ 0.33 Vested outstanding (RSU) as of June 30, 2024 436,511 $ 0.33	A summary of restricted stock award and restricted stock unit activity are as follows: Shares Weighted Unvested balance as of December 31, 2021 111,413 $ 0.09 Vested (RSA) 76,682 $ 0.08 Unvested balance as of December 31, 2022 34,731 $ 0.10 Granted (RSU) 1,487,689 $ 0.33 Vested (RSA) 30,324 $ 0.10 Forfeited (10,974 ) $ 0.33 Unvested balance as of December 31, 2023 1,481,122 $ 0.33
Summary of Non-cash stock-based compensation expense recorded	The following table shows the allocation of share-based compensation expense related to the company’s share-based awards (in thousands): Three Months Ended Six Months Ended  2024   2023   2024   2023  Research and development $ 1,518 $ 15 $ 1,555 $ 27 General and administrative 295 2 365 5 Total share-based compensation $ 1,813 $ 17 $ 1,920 $ 32	The following table shows the allocation of share-based compensation expense related to the company’s share-based awards (in thousands): Year ended 2023 2022 Research and development $ 98 $ 34 General and administrative $ 101 $ 14 Total share-based compensation $ 199 $ 48
RENEO PHARMACEUTICALS INC [Member]
Summary of common stock reserved for future issuance	As of June 30, 2024, the Company had reserved shares of its common stock for future issuance as follows: Shares Common stock options outstanding 467,129 Unvested restricted stock units 31,150 Available for future grants under the 2021 Equity Incentive Plan 442,366 Available for future grants under the 2021 Employee Stock Purchase Plan 78,009 Total shares of common stock reserved 1,018,654	As of December 31, 2023, the Company had reserved shares of its common stock for future issuance as follows: Shares Common stock options outstanding 530,125 Unvested restricted stock units 32,650 Available for future grants under the 2021 Equity Incentive Plan 210,922 Available for future grants under the 2021 Employee Stock Purchase Plan 44,589 Total shares of common stock reserved 818,286
Summary of the Company's stock option activity	A summary of the Company’s stock option activity and related information for the six months ended June 30, 2024 is as follows: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2023 530,125 $ 47.60 6.9 $ —  Forfeited/Expired (62,996 ) $ 49.05 Outstanding at June 30, 2024 467,129 $ 47.39 6.9 $ —  Vested at June 30, 2024 334,861 $ 50.38 6.5 $ —  Exercisable at June 30, 2024 351,698 $ 50.31 6.5 $ —	A summary of the Company’s stock option activity and related information for the year ended December 31, 2023 is as follows: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Aggregate Intrinsic Value (in Outstanding at December 31, 2022 587,774 $ 44.68 8.2 $ 907 Granted 57,891 68.54 Exercised (17,382 ) 23.11 Forfeited/Expired (98,158 ) 46.86 Outstanding at December 31, 2023 530,125 $ 47.59 6.9 $ —  Vested at December 31, 2023 322,834 $ 49.14 6.1 $ —  Exercisable at December 31, 2023 359,212 $ 49.12 6.2 $ —
Summary of weighted-average assumptions to determine the fair value of the employee stock option		The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants were as follows: Year Ended December 31, 2023 2022 Risk-free interest rate 4.0 % 3.4 % Expected volatility 88.6 % 84.8 % Expected term (in years) 5.9 6.0 Expected dividend yield —  % —  %
Summary of RSU activities	RSUs consist of time-based units (TSUs), performance-based units (PSUs) and market-based units (MSUs). The following table summarizes RSU activities during the six months ended June 30, 2024: Number of Weighted- Average Grant Date Per Share Value Unvested at December 31, 2023 32,650 $ 59.00 Cancelled (1,500 ) $ 69.79 Unvested at June 30, 2024 31,150 $ 58.46	The following table summarizes RSU activities during the year ended December 31, 2023: Number of Weighted- Average Grant Date Per Share Value Unvested at December 31, 2022 32,950 $ 56.70 Granted 13,700 58.19 Cancelled (14,000 ) 53.54 Unvested at December 31, 2023 32,650 $ 58.98
Summary of Non-cash stock-based compensation expense recorded	The following table summarizes stock-based compensation expense, including expense associated with options, TSUs, MSUs and award modifications for unvested options, reflected in the consolidated statements of operations and comprehensive loss (in thousands): Three Months Ended June 30, Six Months Ended June 30,   2024     2023     2024     2023   Research and development $ 244 $ 494 $ 497 $ 967 General and administrative 745 713 1,570 1,397 Total $ 989 $ 1,207 $ 2,067 $ 2,364	The following table summarizes stock-based compensation expense, including expense associated with options, TSUs, MSUs and award modifications for unvested options, reflected in the consolidated statements of operations and comprehensive loss (in thousands): Year Ended December 31,  2023   2022  Research and development $ 1,815 $ 1,593 General and administrative 3,297 2,727 Total $ 5,112 $ 4,320

Prepaid Expenses And Other Cu_2

Prepaid Expenses And Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consisted of the following (in thousands): As of As of 2023 Prepaid clinical trials $ 1,494 $ 3,192 Deferred recapitalization costs 656 —  Other receivables 2,045 273 Prepaid other 968 425 Total prepaid expenses $ 5,163 $ 3,890

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Property and equipment, net	The following summarizes the components of property and equipment (in thousands): As of As of Lab equipment $ 706 $ 706 Leasehold improvements 1,090 1,090 Computer hardware and software 158 141 Furniture and fixtures 160 160 Property and equipment, gross 2,114 2,097 Less: Accumulated depreciation and amortization (891 ) (665 ) Property and equipment, net $ 1,223 $ 1,432
RENEO PHARMACEUTICALS INC [Member]
Schedule of Property and equipment, net		Property and equipment, net, consisted of the following (in thousands): As of December 31, 2023 2022 Computer, software and office equipment $ 254 $ 300 Leasehold improvements* —  255 Total property and equipment, gross 254 555 Less: accumulated depreciation and amortization (120 ) (102 ) Total property and equipment, net $ 134 $ 453 * All leasehold improvements were fully impaired and written off. For further information see Note 13.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes [Line Items]
Summary of components of income tax expense (benefit)	The components of the income tax benefit are as follows: Year Ended 2023 2022 Federal tax at statutory rate 21.0 % 21.0 % State taxes, net of federal deduction 3.6 % 3.6 % R&D credits 0.2 % 2.4 % Other (0.1 )% (0.2 )% Change in valuation allowance (24.7 )% (27.2 )% Effective income tax rate —  —
Components of net deferred taxes asset and liabilities	Significant components of deferred income taxes are as follows (in thousands): As of December 31, 2023 2022 Net operating loss carryforward $ 9,027 $ 6,212 R&D Tax credit 837 836 Deferred R&D expenses 11,123 5,198 Accrued expenses 783 881 Share-based compensation 104 91 Other 337 281 Total net deferred tax asset 22,211 13,499 Valuation allowance (22,211 ) (13,499 ) Net deferred tax asset $ —  $ —
RENEO PHARMACEUTICALS INC [Member]
Income Taxes [Line Items]
Summay of company's loss before provision for income taxes	The Company’s net loss was generated in the following jurisdictions (in thousands): Year Ended December 31, 2023 2022 Domestic $ (78,132 ) $ (51,994 ) Foreign 744 39 Net loss $ (77,388 ) $ (51,955 )
Components of net deferred taxes asset and liabilities	The components of net deferred taxes consisted of the following ( i thousand As of December 31, 2023 2022 Deferred tax assets: NOL carryforwards $ 23,490 $ 16,381 Capitalized research and development expenses 15,274 7,465 Credit carryforwards 6,111 4,061 Intangible assets 2,902 3,202 Compensation accruals 1,885 989 Operating lease liabilities 245 316 Depreciation 89 78 Other 2 2 Gross deferred tax assets 49,998 32,494 Less valuation allowance (49,872 ) (32,214 ) Total deferred tax assets 126 280 Deferred tax liabilities: ROU assets (126 ) (280 ) Net deferred tax assets (liabilities) $ —  $ —
Summarized reconciliation of income tax rate	A reconciliation of the effective tax rate to the amount computed by applying the statutory federal income tax rate to the loss from operations is summarized for the years ended December 31, 2023 and 2022, as follows: As of December 31, 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % Tax credits, net 2.5 % 3.4 % Return-to-provision 0.1 % 0.5 % Other (0.1 )% (0.8 )% GILTI inclusion (0.4 )% (0.3 )% Foreign Rate Differential (0.1 )% —  Valuation allowance (23.0 )% (23.8 )% U.S. federal effective tax rate    0.0 %    0.0 %
Summarizes the changes to unrecognized tax benefits	The following table summarizes the changes to unrecognized tax benefits (in thousands): Year Ended December 31,  2023   2022  Beginning balance of unrecognized tax benefits $ 7,094 $ 2,999 Additions based on tax positions related to the current year 4,331 4,095 Ending balance of unrecognized tax benefits $ 11,425 $ 7,094

Description of Business Narrati

Description of Business Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (125,726)	$ (102,051)	$ (125,700)	$ (57,074)
Cash and cash equivalents	$ 18,633	$ 29,876	$ 18,600	$ 11,543

Organization and Business (Narr

Organization and Business (Narrative) (Details)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

May 10, 2024 USD ($) shares

Mar. 25, 2024

Nov. 13, 2023 USD ($)

May 31, 2023 USD ($) shares

May 31, 2022 USD ($)

Jun. 30, 2023 USD ($) shares

Mar. 31, 2023 USD ($) shares

Jun. 30, 2024 USD ($) Employees

Jun. 30, 2023 USD ($)

Dec. 31, 2023 USD ($) shares

Dec. 31, 2022 USD ($) shares

May 31, 2024 $ / shares

Aggregate purchase price

$ 85,000,000

Proceeds from issuance of common stock under the at-the-market facility, net of offering costs

$ 20,000

$ 47,000

$ 65,000

$ 340,000

Onkure [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

69.40%

RENEO PHARMACEUTICALS INC [Member]

Remaining number of full-time employees | Employees

8

Cash, cash equivalents at carrying value and short term investments

$ 76,700,000

103,000,000

Severance and continuation of benefit expenses

2,500,000

Percentage of Common Stock Held by Affiliate

5%

RENEO PHARMACEUTICALS INC [Member] | Leerink Partners LLC [Member] | Subsequent Event [Member]

Sales Agreement Termination Date

Apr. 08, 2024

RENEO PHARMACEUTICALS INC [Member] | Merger Agreement [Member]

Common stock exchange ratio

0.024482

Preferred stock exchange ratio

0.150062

Converted into aggregate shares | shares

7,695,878

Reneo [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

30.60%

Maximum range of net cash

$ 59,000,000

Minimum range of net cash

$ 61,000,000

Common Stock Options Outstanding [Member] | Reneo [Member] | Support aggement [Member]

Percentage of outstanding shares of common stock

28.20%

Private Placement [Member] | Onkure [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

54.80%

Private Placement [Member] | PIPE Investors [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

21%

Private Placement [Member] | RENEO PHARMACEUTICALS INC [Member]

Common stock issued and sold, Shares | shares

62,500

Common stock issued and sold

$ 4,667,000

$ 4,667,000

Share price | $ / shares

$ 80

Proceeds from issuance of common stock under the at-the-market facility, net of offering costs

$ 4,700,000

Private Placement [Member] | RENEO PHARMACEUTICALS INC [Member] | Merger Agreement [Member]

Aggregate purchase price

$ 65,000,000

Private Placement [Member] | Reneo [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

24.20%

Private Placement [Member] | Common Stock Options Outstanding [Member] | RENEO PHARMACEUTICALS INC [Member]

Common stock issued and sold, Shares | shares

62,500

62,500

Concurrent PIPE Investments [Member] | Onkure [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

51.50%

Concurrent PIPE Investments [Member] | PIPE Investors [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

25.80%

Concurrent PIPE Investments [Member] | Reneo [Member] | Merger Agreement [Member]

Expected ownership percentage of stockholders

22.70%

IPO [Member] | RENEO PHARMACEUTICALS INC [Member]

Common stock issued and sold, Shares | shares

790,625

Option to purchase shares of common stock | shares

103,125

Share price | $ / shares

$ 80

Proceeds from issuance of common stock under the at-the-market facility, net of offering costs

$ 58,900,000

ATM facility [Member] | RENEO PHARMACEUTICALS INC [Member]

Common stock issued and sold

$ 1,009,000

$ 1,009,000

$ 193,000

Proceeds from issuance of common stock under the at-the-market facility, net of offering costs

$ 1,009,000

$ 1,009,000

ATM facility [Member] | RENEO PHARMACEUTICALS INC [Member] | Leerink Partners LLC [Member]

Proceeds from issuance of common stock under the at-the-market facility, net of offering costs

$ 1,200,000

ATM facility [Member] | Common Stock Options Outstanding [Member] | RENEO PHARMACEUTICALS INC [Member]

Common stock issued and sold, Shares | shares

40,787

40,787

9,208

Common stock issued and sold

$ 0

ATM facility [Member] | Common Stock Options Outstanding [Member] | RENEO PHARMACEUTICALS INC [Member] | Leerink Partners LLC [Member]

Common stock issued and sold

$ 100,000,000

$ 20,000,000

Common Class A [Member] | Private Placement [Member] | RENEO PHARMACEUTICALS INC [Member] | Merger Agreement [Member]

Aggregate purchase price

$ 65,000,000

Common Class A [Member] | Concurrent PIPE Investments [Member] | RENEO PHARMACEUTICALS INC [Member] | Maximum [Member] | Merger Agreement [Member]

Aggregate purchase price

$ 85,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule Of the Components Of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Lab equipment		$ 706	$ 669
Leasehold improvements		1,090	1,004
Computer hardware and software		141	84
Furniture and fixtures		160	95
Property and equipment, gross		2,097	1,852
Less: accumulated depreciation and amortization	$ (891)	(665)	(248)
property and equipment, net	$ 1,223	$ 1,432	$ 1,604

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2021
Accounting Policies [Line Items]
Cash and cash equivalents	$ 29,876,000	$ 11,543,000	$ 18,633,000	$ 18,600,000
Cash fdic insured amount	250,000	250,000
Impairment charges	0	0
Unrecognized tax benefits	$ 0	0
Defined contribution plan, maximum annual contributions per employee, percent	4%
Defined contribution plan, employer discretionary contribution amount	$ 294,000	220,000
RENEO PHARMACEUTICALS INC [Member]
Accounting Policies [Line Items]
Right-of-use (ROU) assets impairment expense	300,000
Right-of-use and leasehold improvement impairment expenses	400,000
Cash and cash equivalents	27,632,000	19,927,000	$ 35,970,000
Unrecognized tax benefits	11,425,000	$ 7,094,000			$ 2,999,000
Defined contribution plan, employer discretionary contribution amount	$ 200,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Property and equipment, Net (Details) - RENEO PHARMACEUTICALS INC [Member]	12 Months Ended
	Dec. 31, 2023
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Computers and software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	Shorter of useful life or remaining lease term

Net Loss Attributable To Comm_3

Net Loss Attributable To Common Stockholders Per Share - Anti-dilutive securities not included in the diluted net loss per share calculation (Details) - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	9,776,452	2,991,710
Options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	8,299,737	2,991,710
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,476,715	0
RENEO PHARMACEUTICALS INC [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	498,279	636,568	562,775	620,724
RENEO PHARMACEUTICALS INC [Member] | Options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	467,129	600,118	530,125	587,774
RENEO PHARMACEUTICALS INC [Member] | Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	31,150	36,450	32,650	32,950

Fair Value Measurements - Narra

Fair Value Measurements - Narratives (Details) - RENEO PHARMACEUTICALS INC [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets transferred into L3	$ 0	$ 0	$ 0
Assets transferred out of L3	0	0	0
Liabilities transferred into L3	0	0	0
Liabilities transferred out of L3	0	0	$ 0
Performance Shares [Member] | Chief Executive Officer [Member]
Special performance bonus payable	$ 7,500	$ 7,500

Fair Value Measurements - Recur

Fair Value Measurements - Recurring fair value measurement of the Company's assets and liabilities (Details) - RENEO PHARMACEUTICALS INC [Member] - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 75,262	$ 96,242	$ 95,589
Total	8	7	29
Quoted Prices in Active Markets For Identical Items (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	21,717	10,983	9,365
Significant Other Observable Inputs (Level 2)[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	53,545	85,259	86,224
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	8	7	29
Performance Award Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	8	7	29
Performance Award Liability [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	8	7	29
Money market investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	21,717	10,983	9,365
Money market investments [Member] | Quoted Prices in Active Markets For Identical Items (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	21,717	10,983	9,365
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	40,611	9,928
Short-term investments	12,934	75,331	76,253
US Treasury Securities [Member] | Significant Other Observable Inputs (Level 2)[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	40,611	9,928
Short-term investments	$ 12,934	$ 75,331	76,253
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			4,978
Short-term investments			4,993
Commercial Paper [Member] | Significant Other Observable Inputs (Level 2)[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			4,978
Short-term investments			$ 4,993

Fair Value Measurements - Sched

Fair Value Measurements - Schedule Changes in fair value measurements of the Performance Award (Details) - Performance Award [Member] - RENEO PHARMACEUTICALS INC [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 7	$ 29
Change in fair value	1	(22)
Ending Balance	$ 8	$ 7

Marketable Debt Securities - Su

Marketable Debt Securities - Summary of Gross Unrealized Gains and Losses of Available-for-Sale (Details) - RENEO PHARMACEUTICALS INC [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 53,558	$ 75,324	$ 81,290
Gross Unrealized Gains		8	2
Gross Unrealized Losses	(13)	(1)	(46)
Fair Market Value	53,545	75,331	81,246
US Treasury Securities [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	53,558	75,324	76,297
Gross Unrealized Gains		8	2
Gross Unrealized Losses	(13)	(1)	(46)
Fair Market Value	$ 53,545	$ 75,331	76,253
Commercial Paper [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost			4,993
Fair Market Value			$ 4,993

Marketable Debt Securities - Ad

Marketable Debt Securities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Realized gains or losses in available for sale	$ 0	$ 0	$ 0	$ 0

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accrued contract manufacturing cost	$ 864	$ 1,627	$ 434
Accrued compensation	1,707	1,663	1,456
Accrued legal	1,171
Accrued other	765	370	981
Total accrued expenses	4,507	3,660	2,871
RENEO PHARMACEUTICALS INC [Member]
Accrued clinical and regulatory		3,661	1,872
Accrued contract manufacturing cost		1,100	1,583
Accrued compensation	386	3,948	807
Accrued other	567	420	565
Total accrued expenses	$ 953	$ 9,129	$ 4,827

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Weighted average incremental borrowing rate		4.50%	4.50%	4.50%	4.50%
Weighted average remaining lease term		2 years 6 months	3 years 6 months	2 years 11 months 1 day	3 years 10 months 6 days
Payments for operating leases liabilities		$ 101	$ 100	$ 210	$ 194
RENEO PHARMACEUTICALS INC [Member]
Lessee, Lease, Description [Line Items]
Right-of-use (ROU) assets impairment expense				$ 300
Weighted average incremental borrowing rate		5%	5%	5%
Weighted average remaining lease term		2 years 3 months 18 days	3 years 8 months 12 days	3 years 9 months 18 days
Payments for operating leases liabilities		$ 194	$ 142	$ 500	500
Operating lease expense		$ 148	$ 241	$ 400	$ 500
RENEO PHARMACEUTICALS INC [Member] | Lease Agreement [Member]
Lessee, Lease, Description [Line Items]
Lessee, operating lease, existence of option to terminate [true false]		true		true
Right-of-use (ROU) assets impairment expense				$ 300
RENEO PHARMACEUTICALS INC [Member] | Lease Agreement [Member] | Subsequent Event [Member]
Lessee, Lease, Description [Line Items]
Final termination	$ 200

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Weighted average incremental borrowing rate	4.50%	4.50%	4.50%	4.50%
Weighted average remaining lease term	2 years 6 months	3 years 6 months	2 years 11 months 1 day	3 years 10 months 6 days
Cash paid for amounts included in the measurement of lease liabilities	$ 101	$ 100	$ 210	$ 194
RENEO PHARMACEUTICALS INC [Member]
Weighted average incremental borrowing rate	5%	5%	5%
Weighted average remaining lease term	2 years 3 months 18 days	3 years 8 months 12 days	3 years 9 months 18 days
Cash paid for amounts included in the measurement of lease liabilities	$ 194	$ 142	$ 500	500
Lease expense	$ 148	$ 241	$ 400	$ 500

Leases - Schedule of Maturities

Leases - Schedule of Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
2024	$ 118	$ 233
2025	240	240
2026	247	247
Total future minimum lease payments	605	720
Less: Imputed interest	(32)	(46)
Total lease liabilities	573	674	$ 637
RENEO PHARMACEUTICALS INC [Member]
2024 (remaining six months)	195
2024	371	381
2025	285	367
2026		285
Total future minimum lease payments	851	1,033
Less: Imputed interest	(28)	(60)
Total lease liabilities	$ 823	$ 973

Leases - Schedule of Right-of-u

Leases - Schedule of Right-of-use Assets and Lease Liabilities for Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 405	$ 478	$ 443
Current operating lease liabilities	216	208	151
Noncurrent operating lease liabilities	357	466	486
Total lease liabilities	$ 573	$ 674	$ 637

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense for Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 173	$ 152
Variable lease expense	201	150
Short-term lease expense	$ 0	$ 0

Leases - Schedule of Additional

Leases - Schedule of Additional Information for Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term (years)	2 years 6 months	3 years 6 months	2 years 11 months 1 day	3 years 10 months 6 days
Weighted-average discount rate	4.50%	4.50%	4.50%	4.50%
Operating cash flows for operating leases	$ 101	$ 100	$ 210	$ 194

Common Stock - Narrative (Detai

Common Stock - Narrative (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, authorized		87,589,983
Common Class A [Member]
Class of Stock [Line Items]
Common stock, authorized	78,000,000	78,000,000	40,000,000
Common stock, par or stated value per share	$ 0.0001	$ 0.0001	$ 0.0001
Common Class B [Member]
Class of Stock [Line Items]
Common stock, authorized	9,589,983	9,589,983	9,589,983
Common stock, par or stated value per share	$ 0.0001	$ 0.0001	$ 0.0001

Convertible Preferred Stock - N

Convertible Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Convertible preferred stock shares authorized		51,141,064		51,141,064	25,828,896
Convertible prior preferred stock shares issued				0
Conversion of stock, amount issued		$ 0	$ 23,313	$ 23,313	$ 0
Dividends				$ 0
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Convertible preferred stock shares authorized					2,758,788
Series A-1 Preferred Stock [Member]
Class of Stock [Line Items]
Convertible preferred stock shares authorized					2,413,906
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Convertible preferred stock shares authorized					20,656,202
Common Stock [Member]
Class of Stock [Line Items]
Preferred stock, convertible, conversion price	$ 5.53
Conversion of stock, amount issued	$ 75,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized				51,141,064
Preferred stock, value, outstanding	$ 53,800
Preferred stock, par or stated value per share	$ 2.76
Series C Preferred Stock [Member] | Series C Purchase Agreement [Member]
Class of Stock [Line Items]
Preferred stock, shares issued	19,463,456

Convertible Preferred Stock - S

Convertible Preferred Stock - Summary of Convertible Preferred Stock Nonredeemable Or Redeemable Issuer (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Convertible preferred stock		$ 129,825	$ 64,389
Convertible preferred stock, Series A [Member]
Class of Stock [Line Items]
Convertible preferred stock		0	4,975
Convertible preferred stock, Series A - 1 [Member]
Class of Stock [Line Items]
Convertible preferred stock		0	5,162
Convertible preferred stock, Series B [Member]
Class of Stock [Line Items]
Convertible preferred stock		0	54,252
Convertible preferred stock, Series C [Member]
Class of Stock [Line Items]
Convertible preferred stock	$ 129,825	$ 129,825	$ 0

Convertible Preferred Stock -_2

Convertible Preferred Stock - Summary of Convertible Preferred Stock Nonredeemable Or Redeemable Issuer (Parentheticals) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Convertible preferred stock par or stated value per share	$ 0.0001	$ 0.0001
Convertible preferred stock shares authorized	51,141,064	51,141,064	25,828,896
Convertible preferred stock shares issued	47,243,806	47,243,806
Convertible preferred stock shares outstanding	47,243,806	47,243,806
Convertible preferred stock liquidation preference value	$ 195,823	$ 195,823
Convertible Preferred Stock Series A [Member]
Class of Stock [Line Items]
Convertible preferred stock par or stated value per share			$ 0.0001
Convertible preferred stock shares authorized			2,758,788
Convertible preferred stock shares issued			2,758,788
Convertible preferred stock shares outstanding			2,758,788
Convertible preferred stock liquidation preference value			$ 5,222
Convertible Preferred Stock Series A1 [Member]
Class of Stock [Line Items]
Convertible preferred stock par or stated value per share			$ 0.0001
Convertible preferred stock shares authorized			2,413,906
Convertible preferred stock shares issued			2,413,906
Convertible preferred stock shares outstanding			2,413,906
Convertible preferred stock liquidation preference value			$ 5,198
Convertible Preferred Stock Series B [Member]
Class of Stock [Line Items]
Convertible preferred stock par or stated value per share			$ 0.0001
Convertible preferred stock shares authorized			20,656,202
Convertible preferred stock shares issued			20,649,758
Convertible preferred stock shares outstanding			20,649,758
Convertible preferred stock liquidation preference value			$ 57,061
Convertible Preferred Stock Series C [Member]
Class of Stock [Line Items]
Convertible preferred stock par or stated value per share		$ 0.0001
Convertible preferred stock shares authorized		51,141,064
Convertible preferred stock shares issued		47,243,806
Convertible preferred stock shares outstanding		47,243,806
Convertible preferred stock liquidation preference value		$ 195,823

Convertible Preferred Stock -_3

Convertible Preferred Stock - Summary of Convertible Preferred Stock (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Shares issued for Prior Preferred	33,182,778
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Prior Preferred stock		2,758,788
Series A-1 Preferred Stock [Member]
Class of Stock [Line Items]
Prior Preferred stock		2,413,906
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Prior Preferred stock		20,649,758
Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Total Prior Preferred stock		25,822,452
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Shares issued for Prior Preferred	27,780,350
Class A Common Stock [Member]
Class of Stock [Line Items]
Shares issued for Prior Preferred	5,402,428

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended		30 Months Ended	36 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2026	Dec. 31, 2025	Dec. 31, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period				10 years
Vesting percentage				25%
Vesting period		4 years
Unrecognized compensation expense				$ 5,900,000
Stock options granted		854,795		4,368,378	1,240,168
Stock-based compensation		$ 1,920,000	$ 32,000	$ 199,000	$ 48,000
Stock options outstanding	7,941,648	7,941,648		7,197,551	3,101,304			2,795,205
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition				2 years
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected term				5 years 8 months 23 days	5 years 11 months 19 days
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected volatility rate				32%	36.60%
Share-based compensation arrangement by share-based payment award, fair value assumptions, risk free interest rate				4.31%	2.51%
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected dividend rate				0%	0%
Weighted average period		7 years 4 months 24 days		8 years 10 months 9 days
Valuation Technique, Option Pricing Model [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected term		6 years 25 days
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected volatility rate		31.94%
Share-based compensation arrangement by share-based payment award, fair value assumptions, risk free interest rate		4.05%
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected dividend rate		0%
Equity Option [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period		10 years
Vesting percentage		25%				75%	75%
Vesting period		36 months		36 months
Unrecognized compensation expense	$ 365,000	$ 365,000		$ 452,000
Share-based compensation arrangement by share-based payment award, option, nonvested, weighted average exercise price				$ 0.13	$ 0.1
Weighted average period		2 years 7 months 6 days		2 years 7 months 6 days
Performance Shares [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock options granted		358,089		358,089
Stock-based compensation	9,000,000	$ 30,000,000		$ 13,000,000
Stock options outstanding				250,063
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting percentage		25%		25%
Stock-based compensation		$ 1,700,000
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount	$ 328,000	$ 328,000		$ 455,000
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition		2 years 8 months 12 days		3 years 2 months 12 days
2011 Equity Incentive Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, shares issued in period		1,266,000		1,266,000
2021 Equity Incentive Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, shares issued in period		4,326,997		4,326,997
2021 Equity Incentive Plan [Member] | Equity Option [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant	687,274	687,274
Stock options granted		361,600
2021 Equity Incentive Plan [Member] | Performance Shares [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant				1,521,745
2023 Equity Incentive Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, shares issued in period		2,000,000		2,000,000
2023 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant	523,285	523,285		523,285

Stock-Based Compensation - Equi

Stock-Based Compensation - Equity Incentive Plans (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Equity Incentive Plan 2014 [Member] | RENEO PHARMACEUTICALS INC [Member] | Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share options exercised unvested shares outstanding	0	0

Stock-Based Compensation - Shar

Stock-Based Compensation - Shares Reserved for Future Issuance (Details) - RENEO PHARMACEUTICALS INC [Member] - shares	Jun. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Total shares of common stock reserved	1,018,654	818,286
Common Stock Options Outstanding [Member]
Class of Stock [Line Items]
Total shares of common stock reserved	467,129	530,125
Unvested Restricted Stock Units [Member]
Class of Stock [Line Items]
Total shares of common stock reserved	31,150	32,650
Equity Incentive Plan 2021 [Member]
Class of Stock [Line Items]
Total shares of common stock reserved	442,366	210,922
2021 Employee Stock Purchase Plan [Member]
Class of Stock [Line Items]
Total shares of common stock reserved	78,009	44,589

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options Outstanding
Outstanding at beginning of period (in shares)	7,197,551	3,101,304	2,795,205
Granted (in shares)	854,795	4,368,378	1,240,168
Exercised (in shares)	(90,374)	(148,412)	(828,305)
Forfeited/Expired/Canceled (in shares)	(20,324)	(123,719)	(105,764)
Outstanding at end of period (in shares)	7,941,648	7,197,551	3,101,304
Vested (in shares)	4,407
Exercisable (in shares)	4,289,295	2,585,640
Vested and expected to vest (in shares)	7,710,235	6,903,294
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 0.4	$ 0.5	$ 0.46
Granted (in dollars per share)	0.33	0.33	0.53
Exercised (in dollars per share)	0.21	0.44	0.41
Forfeited/Expired/Canceled (in dollars per share)	0.54	0.54	0.5
Outstanding at end of period (in dollars per share)	0.39	0.4	$ 0.5
Vested (in dollars per share)	0.12
Exercisable (in dollars per share)	0.41	0.44
Vested and expected to vest (in dollars per share)	$ 0.39	$ 0.4
Weighted-Average Remaining Contractual Term (in years) / Aggregate Intrinsic Value
Weighted Average Remaining Contractual Term (in years), Options Outstanding	7 years 5 months 15 days	8 years 10 months 17 days	8 years 8 months 19 days
Weighted Average Remaining Contractual Term (in years), Exercisable	6 years 2 months 19 days	8 years 3 months 3 days
Weighted Average Remaining Contractual Term (in years), vested and expected	7 years 4 months 24 days	8 years 10 months 9 days
Aggregate Intrinsic Value, Outstanding	$ 2	$ 16	$ 243	$ 0
Aggregate Intrinsic Value, Exercisable	2	16
Aggregate Intrinsic Value, vested and expected	$ 2	16
Unrecognized stock-based compensation expense		$ 5,900
Weighted-average vesting term		2 years
RENEO PHARMACEUTICALS INC [Member]
Options Outstanding
Outstanding at beginning of period (in shares)	530,125	587,774
Granted (in shares)	0	57,891
Exercised (in shares)		(17,382)
Forfeited/Expired/Canceled (in shares)	(62,996)	(98,158)
Outstanding at end of period (in shares)	467,129	530,125	587,774
Vested (in shares)	334,861	322,834
Exercisable (in shares)	351,698	359,212
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 47.59	$ 44.68
Granted (in dollars per share)	47.6	68.54
Exercised (in dollars per share)		23.11
Forfeited/Expired/Canceled (in dollars per share)	49.05	46.86
Outstanding at end of period (in dollars per share)	47.39	47.59	$ 44.68
Vested (in dollars per share)	50.38	49.14
Exercisable (in dollars per share)	$ 50.31	$ 49.12
Weighted-Average Remaining Contractual Term (in years) / Aggregate Intrinsic Value
Weighted Average Remaining Contractual Term (in years), Options Outstanding	6 years 10 months 24 days	6 years 10 months 24 days	8 years 2 months 12 days
Weighted Average Remaining Contractual Term (in years), Vested	6 years 6 months	6 years 1 month 6 days
Weighted Average Remaining Contractual Term (in years), Exercisable	6 years 6 months	6 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 0	$ 0	$ 907
Aggregate Intrinsic Value, Vested	0	$ 0
Aggregate Intrinsic Value, Exercisable	0		$ 0
Unrecognized stock-based compensation expense	$ 4,400
Weighted-average vesting term	1 year 9 months 18 days

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Weighted-average assumptions
Stock options granted	854,795	4,368,378	1,240,168
Expected term (in years)		5 years 8 months 23 days	5 years 11 months 19 days
Expected volatility		32%	36.60%
Risk-free interest rate		4.31%	2.51%
Expected dividend yield		0%	0%
RENEO PHARMACEUTICALS INC [Member]
Weighted-average assumptions
Stock options granted	0	57,891
Expected term (in years)		5 years 10 months 24 days	6 years
Expected volatility		88.60%	84.80%
Risk-free interest rate		4%	3.40%
Expected dividend yield		0%	0%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units (RSUs) (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vested	4,407
Weighted Average Grant Date Fair Value
Vested	$ 0.12
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at Beginning	1,481,122	34,731	111,413
Granted		1,487,689
Vested	436,511	30,324	76,682
Forfeited			(10,974)
Unvested at End	1,040,204	1,481,122	34,731
Weighted Average Grant Date Fair Value
Unvested at Beginning	$ 0.33	$ 0.1	$ 0.09
Granted		0.33
Vested	0.33	0.1	0.08
Forfeited			0.33
Unvested at End	$ 0.33	$ 0.33	$ 0.1
RENEO PHARMACEUTICALS INC [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vested	334,861	322,834
Weighted Average Grant Date Fair Value
Vested	$ 50.38	$ 49.14
RENEO PHARMACEUTICALS INC [Member] | Equity Incentive Plan 2021 [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at Beginning	32,650	32,950
Granted		13,700
Cancelled	(1,500)	(14,000)
Unvested at End	31,150	32,650	32,950
Weighted Average Grant Date Fair Value
Unvested at Beginning	$ 58.98	$ 56.7
Granted		58.19
Cancelled	69.79	53.54
Unvested at End	$ 58.46	$ 58.98	$ 56.7

Stock-Based Compensation - Time

Stock-Based Compensation - Time-Based Units (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				4 years
Vesting percentage						25%
Stock-based compensation expense	$ 1,813	$ 1,920	$ 17		$ 32	$ 199	$ 48
Unrecognized compensation expense						$ 5,900
Weighted-average vesting term						2 years
RENEO PHARMACEUTICALS INC [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	989		$ 1,207	$ 2,067	$ 2,364	$ 5,112	$ 4,320
Unrecognized compensation expense	$ 4,400			$ 4,400
Weighted-average vesting term				1 year 9 months 18 days
RENEO PHARMACEUTICALS INC [Member] | Equity Incentive Plan 2021 [Member] | Time-Based Restricted Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period						4 years
Vesting rights, description				TSUs typically vest over four years, with 25% vesting on the one-year anniversary of the employee’s hire date and the remainder vesting monthly or quarterly over the following three years subject to the employee’s continued employment with the Company through the vesting dates.		TSUs typically vest over four years, with 25% vesting on the one-year anniversary of the employee’s hire date and the remainder vesting monthly or quarterly over the following three years subject to the employee’s continued employment with the Company through the vesting dates.
Unvested shares	5,700			5,700		5,700
Stock-based compensation expense		$ 0		$ 0
Unrecognized compensation expense	$ 300			$ 300		$ 300
Weighted-average vesting term				3 years 1 month 6 days		1 year 3 months 18 days
RENEO PHARMACEUTICALS INC [Member] | Equity Incentive Plan 2021 [Member] | Time-Based Restricted Units [Member] | 25% Vesting on One-year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				1 year		1 year
Vesting percentage				25%		25%
RENEO PHARMACEUTICALS INC [Member] | Equity Incentive Plan 2021 [Member] | Time-Based Restricted Units [Member] | Remainder Vesting Monthly or Quarterly over Three Years [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				3 years		3 years

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance-Based Units (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 1,813	$ 1,920	$ 17			$ 32	$ 199	$ 48
Unrecognized compensation expense							5,900
RENEO PHARMACEUTICALS INC [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	989		$ 1,207		$ 2,067	2,364	$ 5,112	4,320
Unrecognized compensation expense	$ 4,400				$ 4,400
Equity Incentive Plan 2021 [Member] | RENEO PHARMACEUTICALS INC [Member] | Performance-based Restricted Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unvested shares	13,450				13,450		14,950
Stock-based compensation expense		$ 0		$ 0	$ 0	$ 0	$ 0	$ 0
Unrecognized compensation expense	$ 1,100				$ 1,100		$ 1,100

Stock-Based Compensation - Mark

Stock-Based Compensation - Market-Based Units (Details) - Equity Incentive Plan 2021 [Member] - RENEO PHARMACEUTICALS INC [Member] - Market-Based Units [Member] - Employee [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2024 Day $ / shares shares	Dec. 31, 2023 Day $ / shares shares
Stock-Based Compensation
Threshold share price for vesting of shares	$ 200	$ 200
Consecutive trading days | Day	30	30
Share Price	$ 27.8	$ 27.8
Service period	3 years	3 years
Unvested shares | shares	12,000	12,000

Stock-Based Compensation - Appo

Stock-Based Compensation - Appointment of CEO (Details) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Day	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) Day	Dec. 31, 2022 USD ($)
Stock-Based Compensation
Stock-based compensation expense	$ 1,813	$ 1,920	$ 17		$ 32	$ 199	$ 48
RENEO PHARMACEUTICALS INC [Member]
Stock-Based Compensation
Stock-based compensation expense	989		1,207	$ 2,067	2,364	5,112	4,320
RENEO PHARMACEUTICALS INC [Member] | Chief executive officer [Member]
Stock-Based Compensation
Reversal of share based compensation expense						22	$ 400
RENEO PHARMACEUTICALS INC [Member] | Chief executive officer [Member] | Performance Shares [Member]
Stock-Based Compensation
Special performance bonus payable	7,500			7,500		7,500
Threshold market value	750,000			$ 750,000		$ 750,000
Number of trading days | Day				30		30
Threshold fair market value of the net proceeds	$ 750,000			$ 750,000		$ 750,000
Stock-based compensation expense			$ 600		$ 800

Stock-Based Compensation - Empl

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Jan. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Stock-Based Compensation
Stock-based compensation expense		$ 1,813	$ 1,920	$ 17			$ 32	$ 199	$ 48
RENEO PHARMACEUTICALS INC [Member]
Stock-Based Compensation
Stock-based compensation expense		$ 989		$ 1,207		$ 2,067	2,364	$ 5,112	4,320
RENEO PHARMACEUTICALS INC [Member] | 2021 Employee Stock Purchase Plan [Member]
Stock-Based Compensation
Number of shares issued						28,846		28,846
Termination year						2024-01
Stock-based compensation expense			$ 0			$ 0		$ 400	$ 200
RENEO PHARMACEUTICALS INC [Member] | UK Sharesave Sub-plan (SAYE) [Member]
Stock-Based Compensation
Options authorized		2,587				2,587		2,587
Number of shares issued	0
Stock-based compensation expense					$ 0		$ 0	$ 0

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-cash stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Stock-Based Compensation
Stock-based compensation expense	$ 1,813	$ 1,920	$ 17		$ 32	$ 199	$ 48
RENEO PHARMACEUTICALS INC [Member]
Stock-Based Compensation
Stock-based compensation expense	989		1,207	$ 2,067	2,364	5,112	4,320
Research and development [Member]
Stock-Based Compensation
Stock-based compensation expense	1,518	1,555	15		27	98	34
Research and development [Member] | RENEO PHARMACEUTICALS INC [Member]
Stock-Based Compensation
Stock-based compensation expense	244		494	497	967	1,815	1,593
General and administrative [Member]
Stock-Based Compensation
Stock-based compensation expense	295	$ 365	2		5	101	14
General and administrative [Member] | RENEO PHARMACEUTICALS INC [Member]
Stock-Based Compensation
Stock-based compensation expense	$ 745		$ 713	$ 1,570	$ 1,397	$ 3,297	$ 2,727

Stock-Based Compensation - Ti_2

Stock-Based Compensation - Time-Based Units (Additional Information) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 5.9
Weighted-average vesting term		2 years
RENEO PHARMACEUTICALS INC [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 4.4
Weighted-average vesting term	1 year 9 months 18 days
Equity Incentive Plan 2021 [Member] | RENEO PHARMACEUTICALS INC [Member] | Time-Based Restricted Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unvested shares	5,700	5,700
Unrecognized compensation expense	$ 0.3	$ 0.3
Weighted-average vesting term	3 years 1 month 6 days	1 year 3 months 18 days

License Agreement (Details)

License Agreement (Details) - RENEO PHARMACEUTICALS INC [Member] - vTv Therapeutics LLC [Member] - USD ($)		1 Months Ended	6 Months Ended	12 Months Ended
	Oct. 30, 2023	Dec. 31, 2017	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone payments paid		$ 2,000,000
Development and regulatory milestone payments			$ 2,000,000	$ 2,000,000
Milestone payments			$ 0	$ 0	$ 0	$ 0
Milestone payments payable on achievement of sales thresholds of the licensed product		30,000,000
Common Stock Options Outstanding [Member] | Common Stock Repurchase Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of shares repurchased	57,643
Shares repurchased, aggregate purchase price	$ 4,400,000
Research and development [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront license fee payment		$ 3,000,000
Common stock issued, Shares		57,643
Milestone payments payable on achievement of development and regulatory milestones		$ 64,500,000

Prepaid Expenses And Other Cu_3

Prepaid Expenses And Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid clinical trials	$ 1,494	$ 3,192	$ 1,240
Deferred recapitalization costs	656	0
Other receivables	2,045	273
Prepaid other	968	425
Total prepaid expenses	$ 5,163	$ 3,890

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
property and equipment, gross	$ 2,114	$ 2,097
Less: accumulated depreciation and amortization	(891)	(665)	$ (248)
Property and equipment, net	1,223	1,432	1,604
RENEO PHARMACEUTICALS INC [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross		254	555
Less: accumulated depreciation and amortization		(120)	(102)
Property and equipment, net	81	134	453
Computer, software and office equipment [Member] | RENEO PHARMACEUTICALS INC [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross		254	300
Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross	706	706
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross	1,090	1,090
Leasehold improvements [Member] | RENEO PHARMACEUTICALS INC [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross			$ 255
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross	158	141
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
property and equipment, gross	$ 160	$ 160

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation Expense	$ 115,000	$ 99,000	$ 228,000	$ 197,000

Income Taxes - Summary of compo

Income Taxes - Summary of components of income tax expense (benefit) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal tax at statutory rate	21%	21%
State taxes, net of federal deduction	3.60%	3.60%
R&D credits	0.20%	2.40%
Other	(0.10%)	(0.20%)
Change in valuation allowance	(24.70%)	(27.20%)
Effective income tax rate	0%	0%

Income Taxes - Company's loss b

Income Taxes - Company's loss before provision for income taxes (Details) - RENEO PHARMACEUTICALS INC [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Domestic	$ (78,132)	$ (51,994)
Foreign	744	39
Net loss	$ (77,388)	$ (51,955)

Income Taxes - Components of ne

Income Taxes - Components of net deferred taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforward	$ 9,027	$ 6,212
R&D Tax credit	837	836
Deferred R&D expenses	11,123	5,198
Accrued expenses	783	881
Share-based compensation	104	91
Other	337	281
Total net deferred tax asset	22,211	13,499
Valuation allowance	(22,211)	(13,499)
Net deferred tax asset
RENEO PHARMACEUTICALS INC [Member]
Deferred tax assets:
Net operating loss carryforward	23,490	16,381
Capitalized research and development expenses	15,274	7,465
Credit carryforwards	6,111	4,061
Intangible assets	2,902	3,202
Compensation accruals	1,885	989
Operating lease liabilities	245	316
Depreciation	89	78
Other	2	2
Total net deferred tax asset	49,998	32,494
Valuation allowance	(49,872)	(32,214)
Net deferred tax asset	126	280
ROU assets	(126)	(280)
Net deferred tax assets (liabilities)

Income Taxes - Schedule Of Effe

Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	21%	21%
Other	(0.10%)	(0.20%)
Valuation allowance	(24.70%)	(27.20%)
Effective income tax rate	0%	0%
RENEO PHARMACEUTICALS INC [Member]
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	21%	21%
Tax credits, net	2.50%	3.40%
Return-to-provision adjustment	0.10%	0.50%
Other	(0.10%)	(0.80%)
GILTI inclusion	(0.40%)	(0.30%)
Foreign Rate Differential	(0.10%)	0%
Valuation allowance	(23.00%)	(23.80%)
Effective income tax rate	0%	0%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, not subject to expiration	$ 35,200,000
Net operating loss carryforwards, subject to expiration	1,500,000
Valuation allowance of DTA	22,211,000	$ 13,499,000
Deferred tax assets operating loss carry forwards research subject to expiration	$ 800,000
Operating loss carryforwards, limitations on use	50
RENEO PHARMACEUTICALS INC [Member]
Operating Loss Carryforwards [Line Items]
Income Tax Expense (Benefit)	$ 0	0
Stockholders ownership percentage	5%
Valuation allowance of DTA	$ 49,872,000	32,214,000
Unrecognized tax benefits	11,000,000
Income Tax Examination, Penalties and Interest Accrued	0	$ 0
Federal [Member] | RENEO PHARMACEUTICALS INC [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	110,900,000
Net operating loss carryforwards, not subject to expiration	109,300,000
Net operating loss carryforwards, subject to expiration	$ 1,600,000
Net operating loss carryforwards, subject to expiration period	2034
Tax credit carry forwards	$ 16,900,000
Tax credit carry forwards expiration	2034
State [Member] | RENEO PHARMACEUTICALS INC [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 1,800,000
Net operating loss carryforwards period	2034
Tax credit carry forwards	$ 700,000
UK [Member] | RENEO PHARMACEUTICALS INC [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, not subject to expiration	200,000
GILTI	$ 1,500,000

Income Taxes - Changes to unrec

Income Taxes - Changes to unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Beginning balance of unrecognized tax benefits	$ 0
Ending balance of unrecognized tax benefits	0	$ 0
RENEO PHARMACEUTICALS INC [Member]
Income Taxes [Line Items]
Beginning balance of unrecognized tax benefits	7,094	2,999
Additions based on tax positions related to the current year	4,331	4,095
Ending balance of unrecognized tax benefits	$ 11,425	$ 7,094

Proposed Merger - Narrative (De

Proposed Merger - Narrative (Details) $ in Millions	May 31, 2024 USD ($)
Equity method investment, quoted market value	$ 65
Reneo Stockholders [Member] | Pre-merger [Member]
Business acquisition, percentage of voting interests acquired	31%
Onkure Shareholder [Member] | Pre-merger [Member]
Business acquisition, percentage of voting interests acquired	69%

Commitments and Contingencies (

Commitments and Contingencies (Additional Information) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies [Line Items]
Matching contributions expense recorded	$ 294,000	$ 220,000
RENEO PHARMACEUTICALS INC [Member]
Commitments and Contingencies [Line Items]
Matching contributions expense recorded	$ 200,000

Convertible Promissory Notes -

Convertible Promissory Notes - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Line of Credit Facility [Line Items]
Amortization of debt issuance costs	$ 1,000	$ 0
Convertible Debt [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	12,000,000
Proceeds from acquisition	6,000,000
Additional proceeds from acquisition	6,000,000
Debt issuance costs, net	142,000
Amortization of debt issuance costs	$ 1,000
Convertible Debt [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate, stated percentage			6%
Convertible Debt [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate, stated percentage			8%

Financial Impact of Suspensio_2

Financial Impact of Suspension of Mavodelpar Development Activities - Additional Information (Details) - RENEO PHARMACEUTICALS INC [Member] $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Financial Impact of Suspension of Mavodelpar Development Activities [Line Items]
Severance and continuation of benefit expenses	$ 2.5
Right-of-use (ROU) assets impairment expense	0.3
Right-of-use and leasehold improvement impairment expenses	$ 0.4

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	May 31, 2024
Subsequent Event [Line Items]
Equity method investment, quoted market value			$ 65
Reneo Stockholders [Member] | Pre-merger [Member]
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests acquired			31%
Onkure Shareholder [Member] | Pre-merger [Member]
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests acquired			69%
RENEO PHARMACEUTICALS INC [Member]
Subsequent Event [Line Items]
Severance and continuation of benefit expenses		$ 2.5
Forecast [Member] | RENEO PHARMACEUTICALS INC [Member]
Subsequent Event [Line Items]
Severance and continuation of benefit expenses	$ 1.6