Commitment and Contingencies |
3 Months Ended |
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Mar. 31, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company leases office space under a noncancelable operating lease. There have been no material changes to the Company’s lease during the three months ended March 31, 2026. For additional information, see Note 7, “Leases,” in the audited consolidated annual financial statements in the Annual Report. Legal Proceedings The Company was not subject to any material legal proceedings as of March 31, 2026, and the Company is not aware of any material legal proceedings that are currently pending or threatened. Other Contracts The Company enters into agreements in the ordinary course of business with contract research organizations and contract manufacturing organizations, which generally provide for termination on notice. Amounts payable upon termination are dependent on the timing of termination and the terms of the respective agreement. The Company evaluates such arrangements on an ongoing basis and records a liability for obligations that are probable and reasonably estimable. For matters that do not meet these criteria, the Company considers whether disclosure is appropriate. Indemnification Agreements In the ordinary course of business the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters arising out of the relationship between such parties and the Company. In addition, the Company has entered into indemnification agreements with members of its board of directors and senior management that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, however, the Company has not incurred any material costs as a result of such indemnifications nor experienced any losses related to them. As of March 31, 2026, the Company was not aware of any claims under indemnification arrangements and does not expect significant claims under indemnification arrangements and it has not accrued any liabilities related to such obligations.
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