v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance

In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Act, we are providing the following disclosure regarding the relationship between executive compensation and certain financial performance measures of the Company. As we are permitted to report as a “smaller reporting company” as defined under the U.S. federal securities laws, we have not included a tabular list of financial performance measures, and the table below does not include a column for a “Company — Selected Measure” as defined in Item 402(v) of Regulation S-K.

Pay Versus Performance Table

The following table shows the past three fiscal years’ total compensation for our named executive officers as set forth in the Summary Compensation Table, the compensation actually paid to our named executive officers (as determined under SEC rules, “Compensation Actually Paid”), our total shareholder return (“TSR”) and our net income.

SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine Compensation Actually Paid as reported in the Pay Versus Performance Table. Compensation Actually Paid does not necessarily represent compensation actually earned, realized or received by the applicable named executive officer, but rather is a valuation calculated under applicable SEC rules by adjusting the Summary Compensation Table totals for the applicable year as described in the footnotes to the Pay Versus Performance Table.

Year

  

Summary
Compensation
Table Total for
PEO(1)
($)

  

Compensation
Actually Paid
to PEO(2)
($)

  

Average
Summary
Compensation
Table Total
for Non-PEO
Named Executive
Officers
($)

  

Average
Compensation
Actually Paid
to Non-PEO
Named
Executive
Officers(3)
($)

  

Value of
Initial
Fixed $100
Investment
Based on
Total
Shareholder
Return(4)
($)

  

Net
Income (Loss)
(million)(5)
($)

2025

  

2,655,774

  

2,309,996

  

1,382,378

  

1,406,824

  

198.88

  

(57.4

)

2024

  

1,791,843

  

4,386,910

  

1,106,334

  

1,636,421

  

197.01

  

(44.6

)

2023

  

1,906,132

  

1,272,679

  

1,241,689

  

958,775

  

69.96

  

(40.4

)

____________

(1)      Mr. Shefferman was our principal executive officer (“PEO”) for each of the years reported.

(2)      Compensation Actually Paid to our PEO was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below. In calculating the Compensation Actually Paid amounts reflected in this column, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

Year

          

Equity Award Adjustments

    

Reported
Summary
Compensation
Table Total
for PEO
($)

  

Less:
Reported
Value of
Equity
Awards(a) 
($)

  

Plus: Year
End Fair
Value of
Equity
Awards
Granted
in the Year
that are
Unvested
at Year End
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that are
Unvested
at Year End
($)

  

Plus: Fair
Value of
Equity Awards
that were
Granted
and Vested
in the
Same Year
at Vesting Date
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)

  

Less: Year End
Fair Value of
Equity Awards
Granted in
Prior Years
that Failed to
Meet Vesting
Conditions
($)

  

Plus: Value of
Dividends or
other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

  

Compensation
Actually Paid
to PEO
($)

2025

  

2,655,774

  

(1,571,666

)

  

1,792,785

  

(99,525

)

  

—

  

(467,372

)

  

—

  

—

  

2,309,996

2024

  

1,791,843

  

(655,294

)

  

1,974,355

  

835,949

 

  

—

  

440,057

 

  

—

  

—

  

4,386,910

2023

  

1,906,132

  

(891,050

)

  

515,157

  

(186,258

)

  

—

  

(71,302

)

  

—

  

—

  

1,272,679

(a)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(3)      The Non-PEO NEOs, for each year reported were as follows:

2025: Leonardo Nicacio, M.D. and Jacqueline Zummo, Ph.D.

2024: Patrick Fabbio, Jacqueline Zummo, Ph.D. and Jathin Bandari, M.D.

2023: Patrick Fabbio and Jacqueline Zummo, Ph.D.

Compensation Actually Paid to our Non-PEO NEOs was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below. In calculating the Compensation Actually Paid amounts reflected in this column, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

Year

          

Equity Award Adjustments

    

Average
Reported
Summary
Compensation
Table Total
for Non-PEO
NEOs
($)

  

Less:
Reported
Value of
Equity
Awards(a)
($)

  

Plus: Year
End Fair
Value of
Equity
Awards
Granted
in the Year
that are
Unvested
at Year End
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that are
Unvested
at Year End
($)

  

Plus: Fair
Value of
Equity Awards
that were
Granted
and Vested
in the
Same Year
at Vesting Date
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)

  

Less: Year End
Fair Value of
Equity Awards
Granted in
Prior Years
that Failed to
Meet Vesting
Conditions
($)

  

Plus: Value of
Dividends or
other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

  

Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)

2025

  

1,382,378

  

(627,382

)

  

758,330

  

(19,096

)

  

—

  

(87,406

)

  

—

 

  

—

  

1,406,824

2024

  

1,106,334

  

(248,480

)

  

495,297

  

261,916

 

  

8,494

  

170,694

 

  

(157,834

)

  

—

  

1,636,421

2023

  

1,241,689

  

(546,300

)

  

302,879

  

(32,834

)

  

—

  

(6,659

)

  

—

 

  

—

  

958,775

(a)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(4)      The values disclosed in this TSR column represent the value at year-end, for each noted year, of an initial fixed investment of $100 made on December 31, 2022.

(5)      The dollar amounts reported represent the amount of net income (loss) reflected in our audited consolidated financial statements included in the Annual Report for the applicable year.

    
Named Executive Officers, Footnote Mr. Shefferman was our principal executive officer (“PEO”) for each of the years reported.    
PEO Total Compensation Amount [1] $ 2,655,774 $ 1,791,843 $ 1,906,132
PEO Actually Paid Compensation Amount [2] $ 2,309,996 4,386,910 1,272,679
Adjustment To PEO Compensation, Footnote Compensation Actually Paid to our PEO was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below. In calculating the Compensation Actually Paid amounts reflected in this column, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

Year

          

Equity Award Adjustments

    

Reported
Summary
Compensation
Table Total
for PEO
($)

  

Less:
Reported
Value of
Equity
Awards(a) 
($)

  

Plus: Year
End Fair
Value of
Equity
Awards
Granted
in the Year
that are
Unvested
at Year End
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that are
Unvested
at Year End
($)

  

Plus: Fair
Value of
Equity Awards
that were
Granted
and Vested
in the
Same Year
at Vesting Date
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)

  

Less: Year End
Fair Value of
Equity Awards
Granted in
Prior Years
that Failed to
Meet Vesting
Conditions
($)

  

Plus: Value of
Dividends or
other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

  

Compensation
Actually Paid
to PEO
($)

2025

  

2,655,774

  

(1,571,666

)

  

1,792,785

  

(99,525

)

  

—

  

(467,372

)

  

—

  

—

  

2,309,996

2024

  

1,791,843

  

(655,294

)

  

1,974,355

  

835,949

 

  

—

  

440,057

 

  

—

  

—

  

4,386,910

2023

  

1,906,132

  

(891,050

)

  

515,157

  

(186,258

)

  

—

  

(71,302

)

  

—

  

—

  

1,272,679

(a)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

    
Non-PEO NEO Average Total Compensation Amount $ 1,382,378 1,106,334 1,241,689
Non-PEO NEO Average Compensation Actually Paid Amount [3] $ 1,406,824 1,636,421 958,775
Adjustment to Non-PEO NEO Compensation Footnote The Non-PEO NEOs, for each year reported were as follows:

2025: Leonardo Nicacio, M.D. and Jacqueline Zummo, Ph.D.

2024: Patrick Fabbio, Jacqueline Zummo, Ph.D. and Jathin Bandari, M.D.

2023: Patrick Fabbio and Jacqueline Zummo, Ph.D.

Compensation Actually Paid to our Non-PEO NEOs was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below. In calculating the Compensation Actually Paid amounts reflected in this column, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

Year

          

Equity Award Adjustments

    

Average
Reported
Summary
Compensation
Table Total
for Non-PEO
NEOs
($)

  

Less:
Reported
Value of
Equity
Awards(a)
($)

  

Plus: Year
End Fair
Value of
Equity
Awards
Granted
in the Year
that are
Unvested
at Year End
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that are
Unvested
at Year End
($)

  

Plus: Fair
Value of
Equity Awards
that were
Granted
and Vested
in the
Same Year
at Vesting Date
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)

  

Less: Year End
Fair Value of
Equity Awards
Granted in
Prior Years
that Failed to
Meet Vesting
Conditions
($)

  

Plus: Value of
Dividends or
other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

  

Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)

2025

  

1,382,378

  

(627,382

)

  

758,330

  

(19,096

)

  

—

  

(87,406

)

  

—

 

  

—

  

1,406,824

2024

  

1,106,334

  

(248,480

)

  

495,297

  

261,916

 

  

8,494

  

170,694

 

  

(157,834

)

  

—

  

1,636,421

2023

  

1,241,689

  

(546,300

)

  

302,879

  

(32,834

)

  

—

  

(6,659

)

  

—

 

  

—

  

958,775

(a)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

    
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between Compensation Actually Paid and Company TSR

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our non-PEO NEOs, and the Company’s TSR over the three most recently completed fiscal years.

    
Compensation Actually Paid vs. Net Income

Relationship Between Compensation Actually Paid and Net Income (Loss)

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our non-PEO NEOs, and our net income (loss) during the three most recently completed fiscal years.

All information provided above under the “Pay Versus Performance” heading will not be deemed to be incorporated by reference in any filing of our company under the Securities Act of 1933, as amended, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.

    
Total Shareholder Return Amount [4] $ 198.88 197.01 69.96
Net Income (Loss) [5] $ (57,400,000) $ (44,600,000) $ (40,400,000)
PEO Name Mr. Shefferman Mr. Shefferman Mr. Shefferman
PEO | Less: Reported Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [6] $ (1,571,666) [7] $ (655,294) [2] $ (891,050) [7]
PEO | Plus: Year End Fair Value of Equity Awards Granted in the Year that are Unvested at Year End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,792,785 1,974,355 515,157
PEO | Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested at Year End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (99,525) 835,949 (186,258)
PEO | Plus: Fair Value of Equity Awards that were Granted and Vested in the Same Year at Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
PEO | Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (467,372) 440,057 (71,302)
PEO | Less: Year End Fair Value of Equity Awards Granted in Prior Years that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
PEO | Plus: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
Non-PEO NEO | Less: Reported Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [7] (627,382) (248,480) (546,300)
Non-PEO NEO | Plus: Year End Fair Value of Equity Awards Granted in the Year that are Unvested at Year End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 758,330 495,297 302,879
Non-PEO NEO | Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested at Year End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (19,096) 261,916 (32,834)
Non-PEO NEO | Plus: Fair Value of Equity Awards that were Granted and Vested in the Same Year at Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 8,494
Non-PEO NEO | Plus: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (87,406) 170,694 (6,659)
Non-PEO NEO | Less: Year End Fair Value of Equity Awards Granted in Prior Years that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (157,834)
Non-PEO NEO | Plus: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
[1] Mr. Shefferman was our principal executive officer (“PEO”) for each of the years reported.
[2] Compensation Actually Paid to our PEO was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below. In calculating the Compensation Actually Paid amounts reflected in this column, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

Year

          

Equity Award Adjustments

    

Reported
Summary
Compensation
Table Total
for PEO
($)

  

Less:
Reported
Value of
Equity
Awards(a) 
($)

  

Plus: Year
End Fair
Value of
Equity
Awards
Granted
in the Year
that are
Unvested
at Year End
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that are
Unvested
at Year End
($)

  

Plus: Fair
Value of
Equity Awards
that were
Granted
and Vested
in the
Same Year
at Vesting Date
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)

  

Less: Year End
Fair Value of
Equity Awards
Granted in
Prior Years
that Failed to
Meet Vesting
Conditions
($)

  

Plus: Value of
Dividends or
other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

  

Compensation
Actually Paid
to PEO
($)

2025

  

2,655,774

  

(1,571,666

)

  

1,792,785

  

(99,525

)

  

—

  

(467,372

)

  

—

  

—

  

2,309,996

2024

  

1,791,843

  

(655,294

)

  

1,974,355

  

835,949

 

  

—

  

440,057

 

  

—

  

—

  

4,386,910

2023

  

1,906,132

  

(891,050

)

  

515,157

  

(186,258

)

  

—

  

(71,302

)

  

—

  

—

  

1,272,679

(a)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
[3] The Non-PEO NEOs, for each year reported were as follows:

2025: Leonardo Nicacio, M.D. and Jacqueline Zummo, Ph.D.

2024: Patrick Fabbio, Jacqueline Zummo, Ph.D. and Jathin Bandari, M.D.

2023: Patrick Fabbio and Jacqueline Zummo, Ph.D.

Compensation Actually Paid to our Non-PEO NEOs was calculated in accordance with Item 402(v) of Regulation S-K by deducting and adding from the Summary Compensation Table totals as shown below. In calculating the Compensation Actually Paid amounts reflected in this column, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such fair values did not materially differ from those disclosed at the time of grant.

Year

          

Equity Award Adjustments

    

Average
Reported
Summary
Compensation
Table Total
for Non-PEO
NEOs
($)

  

Less:
Reported
Value of
Equity
Awards(a)
($)

  

Plus: Year
End Fair
Value of
Equity
Awards
Granted
in the Year
that are
Unvested
at Year End
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that are
Unvested
at Year End
($)

  

Plus: Fair
Value of
Equity Awards
that were
Granted
and Vested
in the
Same Year
at Vesting Date
($)

  

Plus: Year
over Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)

  

Less: Year End
Fair Value of
Equity Awards
Granted in
Prior Years
that Failed to
Meet Vesting
Conditions
($)

  

Plus: Value of
Dividends or
other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

  

Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)

2025

  

1,382,378

  

(627,382

)

  

758,330

  

(19,096

)

  

—

  

(87,406

)

  

—

 

  

—

  

1,406,824

2024

  

1,106,334

  

(248,480

)

  

495,297

  

261,916

 

  

8,494

  

170,694

 

  

(157,834

)

  

—

  

1,636,421

2023

  

1,241,689

  

(546,300

)

  

302,879

  

(32,834

)

  

—

  

(6,659

)

  

—

 

  

—

  

958,775

(a)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
[4] The values disclosed in this TSR column represent the value at year-end, for each noted year, of an initial fixed investment of $100 made on December 31, 2022.
[5] The dollar amounts reported represent the amount of net income (loss) reflected in our audited consolidated financial statements included in the Annual Report for the applicable year.
[6] The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
[7] The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.