Subsequent Events |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 13. Subsequent Events Registered Direct Offering On February 10, 2026, the Company entered into securities purchase agreements with certain institutional investors, pursuant to which the Company agreed to issue and sell (i) 3,482,498 shares of the Company’s common stock, no par value per share, and (ii) pre-funded warrants to purchase up to 1,043,478 shares of common stock in a registered direct offering, pursuant to an effective shelf registration statement on Form S-3 (File No. 333-281159), a base prospectus and a related prospectus supplement, in each case filed with the SEC. The offering price was (i) $5.75 per share and (ii) $5.7499 per pre-funded warrant, which is the price of each share sold, minus the $0.0001 exercise price per pre-funded warrant. The closing occurred on February 12, 2026. The pre-funded warrants may be exercised at any time until exercised in full, except that a holder (together with its affiliates) will not be entitled to exercise any portion of any pre-funded warrant, which, upon giving effect to such exercise would cause the aggregate number of shares of the Company’s common stock beneficially owned by the holder (together with its affiliates) to exceed 4.99% (or, upon election of the holder, 9.99%) of the number of shares of common stock outstanding immediately prior to or after giving effect to the exercise, subject to such holder’s rights under the pre-funded warrants to increase or decrease such percentage to another percentage not in excess of 9.99% of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the pre-funded warrants upon at least 61 days’ prior notice from such holder to the Company. The gross proceeds to the Company from the registered direct offering were approximately $26.0 million, before deducting $1.4 million in placement agent fees and offering expenses payable by the Company. The Company plans to use the net proceeds received of approximately $24.6 million primarily for general corporate purposes, including but not limited to research and development in the transplantation category. Specimen Collection Agreement On February 20, 2026, the Company entered into a Specimen Collection Agreement (the “Collection Agreement”) with a national reference lab provider. Pursuant to the Collection Agreement, the lab provider will provide specimen collection-related services, which may include, among other things, the collection, handling, processing, and delivery of specimens upon which the Company will perform testing with its GraftAssureCore test, a blood test designed to measure dd-cfDNA using a novel PCR-based measurement platform, for potential patient registrants. The Collection Agreement provides for certain fees to be paid to the lab provider for services rendered. The lab provider will not bill any other party for the services it provides, and patients will be billed by the Company. |