License and Research and Development Agreements - Additional Information (Details) - USD ($)
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1 Months Ended |
3 Months Ended |
6 Months Ended |
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Jun. 30, 2025 |
Feb. 28, 2023 |
Aug. 31, 2022 |
Mar. 31, 2022 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Research and development expense |
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$ 7,509,000
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$ 37,458,000
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$ 38,146,000
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$ 67,961,000
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Accrued clinical and research and development expenses |
$ 277,000
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277,000
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277,000
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$ 12,521,000
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Stanford License |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Upfront payment |
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$ 50,000
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Issuance of common shares for license, shares |
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67,605
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Issuance of common shares for license, fair value |
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$ 100,000
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Research and development expense |
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200,000
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0
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0
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0
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0
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Stanford License | Maximum |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Annual license maintenance fees |
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100,000
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Stanford License | Maximum | Development Milestones |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
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4,000,000
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Stanford License | Maximum | Sales Milestones |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
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$ 7,500,000
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Oxford License and Supply Agreement |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Research and development expense |
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500,000
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0
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500,000
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0
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2022 NCI License |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Research and development expense |
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0
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0
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100,000
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Amount paid in connection with achievement of change in control milestone |
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200,000
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Future obligations under 2022 NCI license |
0
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0
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$ 0
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Payment of extension royalty |
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$ 50,000
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Termination and expiration clause |
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In June 2025, the Company and the NCI reached an agreement about the amounts payable under the 2022 NCI License, including $0.2 million to be paid in connection with the achievement of the change in control milestone. Upon NCI's receipt of the agreed upon amounts, the 2022 NCI License was terminated. The Company paid $0.2 million as of June 30, 2025 and has no future obligations under the 2022 NCI License.
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2022 NCI License | Maximum |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Research and development expense |
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$ 100,000
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Milestone payments |
200,000
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2023 NCI License |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Research and development expense |
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0
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$ 0
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Non-refundable license fee |
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$ 300,000
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Accrued clinical and research and development expenses |
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$ 100,000
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Minimum payment on sale, transfer or lease of PRV |
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5,000,000
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Termination and expiration clause |
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Unless earlier terminated, the 2023 NCI License would expire upon the expiration of the last to expire of the licensed patent rights. The NCI may terminate or modify the 2023 NCI License in the event of an uncured material breach, including, but not limited to, if the Company does not meet certain milestones by certain dates, or upon certain insolvency events that remain uncured following the date that is 90 days following written notice of such breach or insolvency event. The Company may terminate the license, or any portion thereof, at its sole discretion at any time upon 60 days written notice to the NCI.In June 2025, the Company and the NCI reached an agreement (“Settlement Agreement”) about the amounts payable under the 2023 NCI License including $0.1 million to be paid under in connection with the achievement of the change in control milestone. Under the terms of the Settlement Agreement, the 2023 NCI License will terminate on the earlier of: (1) July 31, 2025 (subsequently amended to September 15, 2025 – see Note 12); (2) the voluntary termination of the 2023 NCI License by the Company; or (3) the date of the license transfer to the third party (“License Assignment”), subject to approval by the NCI. As of June 30, 2025, the Company has no future obligations under the 2023 NCI License besides unbilled patent expenses related to the 2023 NCI License incurred by the NCI from January 2025 through the termination of the 2023 NCI License or the License Assignment, which are expected to be immaterial. If the License Assignment occurs, the Company will be required to pay an assignment royalty fee of $0.1 million to the NCI and will be relieved from unbilled patent expenses related to the 2023 NCI License incurred in 2025.
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Payment of reimburse in expense incurred on patent |
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100,000
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2023 NCI License | Research and Development |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Non-refundable license fee |
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400,000
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2023 NCI License | License Assignment |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Minimum annual royalty payments |
100,000
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2023 NCI License | Besides Unbilled Patent Expenses |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Future obligations under 2022 NCI license |
0
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$ 0
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$ 0
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2023 NCI License | Maximum |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Research and development expense |
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$ 100,000
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$ 100,000
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2023 NCI License | Maximum | Development Milestones |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
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1,700,000
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2023 NCI License | Maximum | Regulatory Milestones |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
$ 100,000
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100,000
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2023 NCI License | Maximum | Sales Milestones |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
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16,000,000
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2023 NCI License | Minimum |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Minimum annual royalty payments |
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50,000
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Minimum payment on submission of PRV |
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$ 500,000
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Stanford University | Stanford License |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Issuance of common shares for license, shares |
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22,317
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Non-profit Organizations | Stanford License |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Issuance of common shares for license, shares |
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27,100
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Stanford University Inventors | Stanford License |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Issuance of common shares for license, shares |
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18,188
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Commercial Milestone Event | Stanford License | Maximum |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
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$ 50,000
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Certain Additional Milestone Events | Stanford License | Maximum |
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Research and Development Arrangement, Contract to Perform for Others [Line Items] |
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Milestone payments |
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$ 500,000
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