Prepaid Expenses and Other Current Assets and Accrued Expenses

12 Months Ended

Dec. 31, 2025

Prepaid Expenses and Other Current Assets and Accrued Expenses

6. Prepaid Expenses and Other Current Assets and Accrued Expenses

Prepaid expenses consisted of the following as of December 31, 2025 and 2024 (in thousands):


	December 31, 2025		December 31, 2024
CRO advances	$	10,757	$	422
Prepaid research and development		541		269
Prepaid clinical trial expenses		750		—
Prepaid insurance		693		57
Other prepaid expenses and other current assets		478		132
Total prepaid expenses and other current assets	$	13,219	$	880

Accrued expenses consisted of the following as of December 31, 2025 and 2024 (in thousands):


	December 31, 2025		December 31, 2024
Accrued CRO costs	$	1,324	$	1,443
Accrued research and development costs		449		488
Accrued compensation costs		1,680		1,441
Accrued professional and consulting costs		350		902
Accrued termination benefits		515		800
Other accrued costs		267		228
Total accrued expenses	$	4,585	$	5,302

During the year ended December 31, 2024, the Company wrote off $3.2 million of deferred offering costs that were previously included in prepaid expenses and other current assets. The write-off was recorded in general and administrative expenses in the accompanying statements of operations for the year ended December 31, 2024.