3. Balance Sheet Account Detail

The composition of selected captions within the accompanying Condensed Balance Sheets are summarized below:

Property and Equipment, Net

The components of “property and equipment, net” as of March 31, 2026 and December 31, 2025 are as follows:


(in thousands)	As of March 31, 2026			As of December 31, 2025
Office equipment	$	677		$	671
Furniture and fixtures		144			144
Leasehold improvements		355			355
Construction in progress		726			524
Software		319			319
Total		2,221			2,013
Less: accumulated depreciation		(624	)		(526	)
Property and equipment, net	$	1,597		$	1,487

“Depreciation expense” for the three months ended March 31, 2026 and 2025 was $0.1 million and less than $0.1 million, respectively. The Company has not recognized any impairment loss for any long-lived assets for the three months ended March 31, 2026 and 2025.

Accrued Liabilities

The components of “accrued liabilities” as of March 31, 2026 and December 31, 2025 are as follows:


(in thousands)	As of March 31, 2026		As of December 31, 2025
Accrued sales agent commissions	$	1,858	$	1,793
Accrued clinical studies		216		291
Liability associated with stock option exercises prior to vesting		60		70
Accrued professional fees		600		560
Other accrued expenses		468		573
Total accrued liabilities	$	3,202	$	3,287