v3.25.4
Other income (expense), net
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Other income (expense), net

18. Other income (expense), net

For the years ended December 31, 2025 and 2024, the Company recognized certain expenses for various transactions as Other income (expense), net within its consolidated statement of operations. Other income (expense), net is made up of the following expenses (in thousands):

 

 

For the year ended December 31,

 

 

 

2025

 

 

2024

 

Benefit from research and development tax credit

 

$

714

 

 

$

525

 

Pre-funded warrant issuance costs

 

 

(1,356

)

 

 

—

 

Loss on sale of investment held at fair value

 

 

—

 

 

 

(2,075

)

Loss on disposal of fixed assets

 

 

(692

)

 

 

—

 

Loss on lease termination

 

 

(408

)

 

 

—

 

Loss on extinguishment of debt

 

 

(1,317

)

 

 

—

 

Gain on settlement of pre-existing contract

 

 

—

 

 

 

5,567

 

Gain on dissolution of a variable interest entity, net

 

 

—

 

 

 

1,166

 

Gain on forgiveness accounts payable

 

 

—

 

 

 

331

 

Total other income (expense), net

 

$

(3,059

)

 

$

5,514