v3.26.1
Balance Sheet Components
12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components
Note 3. Balance Sheet Components
Prepaid expenses
Prepaid expenses consist of the following (in thousands):
 
    
December 31,
 
    
2025
    
2024
 
Prepaid research & development
   $ 436      $ 2  
Prepaid insurance
     140        —   
  
 
 
    
 
 
 
Total prepaid expenses
   $ 576      $ 2  
  
 
 
    
 
 
 
 
Property and equipment, net
Property and equipment, net consists of the following (in thousands):
 
    
December 31,
 
    
2025
    
2024
 
Construction-in-progress
   $ 750      $ 689  
Furniture
     17        17  
Computers and equipment
     8        8  
  
 
 
    
 
 
 
Property and equipment, gross
     775        714  
Less: accumulated depreciation
     (25      (25
  
 
 
    
 
 
 
Property and equipment, net
   $ 750      $ 689  
  
 
 
    
 
 
 
The Company recognized no depreciation expense for years ended December 31, 2025 and 2024. Costs for long-lived assets not yet placed into service are capitalized as
construction-in-progress
and depreciated once placed into service.
Accrued Expenses
Accrued expenses consist of the following (in thousands):
 
    
December 31,
 
    
2025
    
2024
 
Accrued research & development
   $ 30      $ 8  
Accrued professional fees
     236        2  
Accrued compensation
     469        —   
Accrued other
     4        25  
  
 
 
    
 
 
 
Total accrued expenses
   $ 739      $ 35