| Balance Sheet Components |
Note 4—Balance Sheet Components Prepaid expenses and other current assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31,
2026 |
|
|
December 31, 2025 |
|
Prepaid research and development |
|
$ |
2,559 |
|
|
$ |
2,460 |
|
Prepaid clinical trial |
|
|
1,317 |
|
|
|
866 |
|
Deferred offering costs |
|
|
195 |
|
|
|
195 |
|
Prepaid insurance |
|
|
143 |
|
|
|
108 |
|
Other |
|
|
1,011 |
|
|
|
802 |
|
Total prepaid expenses and other current assets |
|
$ |
5,225 |
|
|
$ |
4,431 |
|
Property, plant and equipment, net consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31,
2026 |
|
|
December 31,
2025 |
|
Leasehold improvements |
|
$ |
2,152 |
|
|
$ |
2,152 |
|
Laboratory equipment |
|
|
3,357 |
|
|
|
3,306 |
|
Computer equipment |
|
|
758 |
|
|
|
749 |
|
Furniture and fixtures |
|
|
921 |
|
|
|
921 |
|
Construction in progress |
|
|
4,236 |
|
|
|
4,292 |
|
|
|
|
11,424 |
|
|
|
11,420 |
|
Accumulated depreciation |
|
|
(4,974 |
) |
|
|
(4,684 |
) |
Property, plant and equipment, net |
|
$ |
6,450 |
|
|
$ |
6,736 |
|
Property, plant and equipment, net includes $0.2 million and $0.3 million of assets capitalized as finance leases as of March 31, 2026 and December 31, 2025, respectively. Depreciation expense was $0.3 million for each of the three months ended March 31, 2026 and 2025. Accrued expenses and other current liabilities consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31,
2026 |
|
|
December 31,
2025 |
|
Accrued research and development |
|
$ |
4,851 |
|
|
$ |
3,591 |
|
Accrued compensation |
|
|
2,988 |
|
|
|
9,425 |
|
Accrued clinical trial |
|
|
3,879 |
|
|
|
3,290 |
|
Lease liabilities, current portion |
|
|
1,824 |
|
|
|
1,865 |
|
Accrued professional and consulting fees |
|
|
1,208 |
|
|
|
1,310 |
|
Accrued property, plant and equipment |
|
|
— |
|
|
|
19 |
|
Other |
|
|
784 |
|
|
|
777 |
|
Total accrued expenses and other current liabilities |
|
$ |
15,534 |
|
|
$ |
20,277 |
|
|