v3.26.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Reconciliation of the Company's net loss

The following table presents the significant segment expenses regularly provided to the CODM and a reconciliation to net loss (in thousands):

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

General and administrative expenses

 

$

13,660

 

 

$

13,659

 

 

 

 

 

 

 

 

Research and development expenses

 

 

 

 

 

 

Clinical trial

 

 

4,727

 

 

 

42,369

 

Formulation and CMC

 

 

3,805

 

 

 

2,270

 

Preclinical

 

 

129

 

 

 

1,845

 

Total direct research and development expenses

 

 

8,661

 

 

 

46,484

 

Personnel-related

 

 

5,367

 

 

 

3,689

 

Consulting and other

 

 

2,716

 

 

 

998

 

Total indirect and unallocated research and development expenses

 

 

8,083

 

 

 

4,687

 

Total research and development expenses

 

 

16,744

 

 

 

51,171

 

Total operating loss

 

 

(30,404

)

 

 

(64,830

)

Non-operating income

 

 

5,200

 

 

 

1,729

 

Income tax provision

 

 

1

 

 

 

1

 

Net Loss

 

$

(25,205

)

 

$

(63,102

)

Schedule of Depreciation of Property and Equipment Estimated Useful Lives

Property and equipment are recorded at cost less accumulated depreciation. Depreciation and amortization expense is recognized using the straight-line method over the following estimated useful lives:

 

Asset Category

Estimated Useful Life

Leasehold improvements

Shorter of estimated useful life or remaining lease term

Computer equipment

3 years

Office furniture

5 years