Related Parties |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Parties | |
| Related Parties | 12. Related Parties The Company considers Paragon to be a related party because Fairmount Funds Management LLC, which beneficially owns more than 5% of Paragon, beneficially owns more than 5% of the Company’s capital stock and, as of the date of this Quarterly Report, has one seat on the Board. Under the Option Agreements and the License Agreements, Paragon, received upfront consideration in the form of common units, is entitled to receive milestone and royalty payments upon specific conditions and receives payments from the Company for providing ongoing services under the agreements (see Note 8). As of March 31, 2026 and December 31, 2025, $0.6 million and $2.1 million were due to Paragon, respectively. For the three months ended March 31, 2026, the Company incurred research and development expenses of $0.6 million with Paragon. For the three months ended March 31, 2025, the Company incurred immaterial research and development expenses with Paragon. |