Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 8. RELATED PARTY TRANSACTIONS
From September 25, 2025 to December 22, 2025, we entered into three development agreements, or the Adare Agreements, with Adare Pharma Solutions, or Adare, to perform analytical and drug product development for cytisinicline. Thomas Sellig is the current Chief Executive Officer of Adare. Thomas Sellig is also a member of our Board, chairs the Compensation Committee of the Board and is a member of the Audit Committee of the Board.
We expect to incur approximately $3.2 million in expenses over the term of the Adare Agreements. Adare will invoice us for work completed under the agreements based on industry standard payment terms and will be paid in cash. For the three months ended March 31, 2026, we incurred expenses of $0.3 million related to the Adare Agreements. As of March 31, 2026, we recorded amounts payable of $19,000, a prepayment of $0.1 million and $0.2 million of accrued clinical liabilities on our balance sheet related to the Adare Agreements. Since entering into the agreements, we have incurred a total of $0.4 million in R&D expenses.
On November 10, 2025, we entered into a consulting agreement with Kristen Slaoui to provide strategic business development and transaction advisory support services. Dr. Slaoui is a member of our Board, the Compensation Committee of the Board and the Nominating and Corporate Governance Committee of the Board. We incurred consulting fees from Dr. Slaoui of $24,000 for the three months ended March 31, 2026. As of March 31, 2026, we recorded amounts payable to Dr. Slaoui of $8,000 in accounts payable and $5,000 in accrued liabilities on our balance sheet. Since entering into the agreement we have incurred a total of $38,000 in consulting fees. |