v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Pay vs Performance Disclosure    
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and
Non-PEO
named executive officers
(“Non-PEO
NEOs”) and Company performance for the fiscal years listed below. The compensation committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.
 
Year
   
Summary
Compensation
Table Total for
PEO
(1)

($)
     
Compensation
Actually Paid to
PEO
(1)
(2)(3)

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

NEOs
(1)

($)
     
Average
Compensation
Actually Paid to
Non-PEO

NEOs
(1)(2)(3)

($)
     
Value of Initial
Fixed $100
Investment
based on
TSR
(4)

($)
     
Net Income
($ Thousands)
  
2025
      5,567,164        5,691,164        2,259,933        2,303,700        88.91        (129,468 ) 
2024
      5,282,815        4,274,740        2,207,675        1,845,596        87.72        (127,847 ) 
 
(1)
Jacob M. Chacko, M.D. was our PEO for each year presented. The individuals comprising the
Non-PEO
N
E
Os for each year presented are listed below.
 
2024 - 2025
Dominic Piscitelli
Pratik Multani, M.D.
 
(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
 
Year
   
Summary
Compensation
Table Total for
PEO

($)
     
Exclusion of
Stock Awards
for PEO

($)
     
Inclusion of
Equity Values
for PEO

($)
     
Compensation
Actually Paid to
PEO

($)
  
2025
      5,567,164        (4,460,560 )       4,584,560        5,691,164  
2024
      5,282,815        (4,243,778 )       3,235,703        4,274,740  
 
Year
   
Average
Summary
Compensation
Table Total for
Non-PEO NEOs

($)
     
Average
Exclusion of
Stock Awards
for
Non-PEO

NEOs

($)
     
Average
Inclusion of
Equity Values

for
Non-PEO

NEOs

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

($)
  
2025
      2,259,933        (1,507,504 )       1,551,271        2,303,700  
2024
      2,207,675        (1,497,804 )       1,135,725        1,845,596  
 
The amounts in the Inclusion of Equity Values in the tables
above
are derived from the amounts set forth in the following tables:
 
Year
   
Year-
End

Fair Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as of
Last Day of
Year for PEO

($)
     
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO

($)
    
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for PEO

($)
     
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for PEO

($)
     
Fair Value at
Last Day of
Prior Year of
Equity
Awards
Forfeited
During Year
for PEO

($)
     
Value of
Dividends or
Other
Earnings Paid
on Equity
Awards Not
Otherwise
Included for
PEO

($)
     
Total
- Inclusion of

Equity Values for
PEO

($)
  
2025
      4,027,954        (49,470 )      307,664        298,412        —        —        4,584,560  
2024
      3,365,449        (699,787 )      241,397        328,644        —        —        3,235,703  
 
Year
   
Average
Year-End

Fair Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as of
Last Day of
Year for Non-

PEO NEOs

($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
Non-PEO

NEOs

($)
    
Average
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for Non-PEO

NEOs

($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Non-PEO

NEOs

($)
     
Average Fair
Value at Last
Day of Prior
Year of
Equity
Awards
Forfeited
During Year
for
Non-PEO

NEOs

($)
     
Average
Value of
Dividends or
Other
Earnings Paid
on Equity
Awards Not
Otherwise
Included for
Non-PEO

NEOs

($)
     
Total -
Average
Inclusion of

Equity Values
for
Non-PEO

NEOs

($)
  
2025
      1,360,800        (17,386 )      104,604        103,253        —        —        1,551,271  
2024
      1,187,804        (263,409 )      85,200        126,130        —        —        1,135,725  
 
(4)
Assumes $100 was invested in the Company for the period starting December 31, 2023, through the end of the listed year. Historical stock performance is not necessarily indicative of future stock performance.
 
Named Executive Officers, Footnote
(1)
Jacob M. Chacko, M.D. was our PEO for each year presented. The individuals comprising the
Non-PEO
N
E
Os for each year presented are listed below.
 
2024 - 2025
Dominic Piscitelli
Pratik Multani, M.D.
  
PEO Total Compensation Amount $ 5,567,164 $ 5,282,815
PEO Actually Paid Compensation Amount $ 5,691,164 4,274,740
Adjustment To PEO Compensation, Footnote
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
 
Year
   
Summary
Compensation
Table Total for
PEO

($)
     
Exclusion of
Stock Awards
for PEO

($)
     
Inclusion of
Equity Values
for PEO

($)
     
Compensation
Actually Paid to
PEO

($)
  
2025
      5,567,164        (4,460,560 )       4,584,560        5,691,164  
2024
      5,282,815        (4,243,778 )       3,235,703        4,274,740  
 
The amounts in the Inclusion of Equity Values in the tables
above
are derived from the amounts set forth in the following tables:
 
Year
   
Year-
End

Fair Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as of
Last Day of
Year for PEO

($)
     
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO

($)
    
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for PEO

($)
     
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for PEO

($)
     
Fair Value at
Last Day of
Prior Year of
Equity
Awards
Forfeited
During Year
for PEO

($)
     
Value of
Dividends or
Other
Earnings Paid
on Equity
Awards Not
Otherwise
Included for
PEO

($)
     
Total
- Inclusion of

Equity Values for
PEO

($)
  
2025
      4,027,954        (49,470 )      307,664        298,412        —        —        4,584,560  
2024
      3,365,449        (699,787 )      241,397        328,644        —        —        3,235,703  
 
  
Non-PEO NEO Average Total Compensation Amount $ 2,259,933 2,207,675
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,303,700 1,845,596
Adjustment to Non-PEO NEO Compensation Footnote
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
 
Year
   
Average
Summary
Compensation
Table Total for
Non-PEO NEOs

($)
     
Average
Exclusion of
Stock Awards
for
Non-PEO

NEOs

($)
     
Average
Inclusion of
Equity Values

for
Non-PEO

NEOs

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

($)
  
2025
      2,259,933        (1,507,504 )       1,551,271        2,303,700  
2024
      2,207,675        (1,497,804 )       1,135,725        1,845,596  
The amounts in the Inclusion of Equity Values in the tables
above
are derived from the amounts set forth in the following tables:
Year
   
Average
Year-End

Fair Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as of
Last Day of
Year for Non-

PEO NEOs

($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
Non-PEO

NEOs

($)
    
Average
Vesting-Date

Fair Value of
Equity
Awards
Granted
During Year
that Vested
During Year
for Non-PEO

NEOs

($)
     
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Non-PEO

NEOs

($)
     
Average Fair
Value at Last
Day of Prior
Year of
Equity
Awards
Forfeited
During Year
for
Non-PEO

NEOs

($)
     
Average
Value of
Dividends or
Other
Earnings Paid
on Equity
Awards Not
Otherwise
Included for
Non-PEO

NEOs

($)
     
Total -
Average
Inclusion of

Equity Values
for
Non-PEO

NEOs

($)
  
2025
      1,360,800        (17,386 )      104,604        103,253        —        —        1,551,271  
2024
      1,187,804        (263,409 )      85,200        126,130        —        —        1,135,725  
  
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Total Shareholder Return (“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 cumulative TSR over the two most recently completed fiscal years for the Company.
 
LOGO 		 
Compensation Actually Paid vs. Net Income
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Net Income
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 loss during the two most recently completed fiscal
years
.
 
LOGO 		 
Total Shareholder Return Amount $ 88.91 87.72
Net Income (Loss) $ (129,468,000) (127,847,000)
PEO Name Jacob M. Chacko, M.D.  
PEO | Equity Awards Adjustments    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount $ 4,584,560 3,235,703
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 4,027,954 3,365,449
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount (49,470) (699,787)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 307,664 241,397
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 298,412 328,644
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 0 0
PEO | Exclusion Of Stock Awards [Member]    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount (4,460,560) (4,243,778)
Non-PEO NEO | Equity Awards Adjustments    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 1,551,271 1,135,725
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 1,360,800 1,187,804
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount (17,386) (263,409)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 104,604 85,200
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 103,253 126,130
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 0 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 0 0
Non-PEO NEO | Exclusion Of Stock Awards [Member]    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount $ (1,507,504) $ (1,497,804)