v3.26.1
Segments (Tables)
 12 Months Ended
Dec. 31, 2025
Segments [Abstract]  
Summary of Significant Expense Categories and Asset Categories
The table below summarizes the significant expense categories regularly reviewed by the CODM for the years ended December 31, 2025 and 2024 (in thousands).
 
                 
    Year Ended December 31,  
    2025     2024  
    (in thousands)  
Operating expenses:
           
Research and development
  $ 14,290     $ 36,571  
General and administrative
    5,795       5,862  
Total operating expenses
    20,085       42,433  
Total operating loss
    (20,085 )      (42,433 ) 
Other income (expense):
               
Interest income
    126       338  
Interest expense
    (7,329 )      (5,540 ) 
Change in fair value of derivatives
    (3,548 )      588  
Total other expense
    (10,751 )       (4,614)  
Net loss
  $ (30,836 )    $ (47,047 ) 
Preferred stock dividends
    (138 )      (153 ) 
Warrant modification
       —          —
Net loss applicable to common stockholders
  $ (30,974 )    $ (47,200 ) 
The table below summarizes the significant asset categories regularly reviewed by the CODM for the years ended December 31, 2025 and 2024 (in thousands).
               
    December 31,
    2025   2024
    (in thousands)
Cash and cash equivalents
  $ 17,720    $ 15,120