7. Selected Balance Sheet Information Prepaid expenses and other current assets (in thousands) | | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | Prepaid manufacturing expenses | | $ | 181 | | $ | 375 | Prepaid insurance | | | 252 | | | 374 | Prepaid clinical research organizations | | | 79 | | | 365 | Prepaid consulting, subscriptions and other expenses | | | 254 | | | 235 | VAT receivable | | | 109 | | | 95 | | | | | | | | Total | | $ | 875 | | $ | 1,444 |
Prepaid clinical research organizations (CROs) expense is classified as a current asset. The Company makes payments to the CROs based on agreed upon terms that include payments in advance of study services. Property and equipment, net (in thousands) | | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | Computers and office equipment | | $ | 711 | | $ | 708 | Other property, plant and equipment | | | 410 | | | 392 | Leasehold improvements | | | 94 | | | 94 | Software | | | 11 | | | 11 | | | | 1,226 | | | 1,205 | Less: accumulated depreciation and amortization | | | (973) | | | (935) | | | | | | | | Total | | $ | 253 | | $ | 270 |
Accrued expenses (in thousands) | | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | Accrued clinical consulting services | | $ | 3,241 | | $ | 2,390 | Accrued manufacturing costs | | | 383 | | | 772 | Accrued vendor payments | | | 145 | | | 206 | | | | | | | | Total | | $ | 3,769 | | $ | 3,368 |
Accrued employee benefits (in thousands) | | | | | | | | | March 31, | | December 31, | | | 2025 | | 2024 | Accrued bonus expense | | $ | 220 | | $ | 870 | Accrued compensation expense | | | 234 | | | 187 | Accrued vacation expense | | | 100 | | | 87 | | | | | | | | Total | | $ | 554 | | $ | 1,144 |
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