The table below summarizes the significant expense categories regularly reviewed by the CODM for the three months ended March 31:


	Three Months Ended March 31,
	2026		2025
Operating expenses:
Clinical product candidates	$	20,921	$	17,781
Pre-clinical product candidates	419		114
Employee costs- research and development	2,558		2,167
Employee costs-general and administrative	1,809		1,560
Non-cash stock compensation	4,466		2,042
Depreciation expense	33		43
Professional fees and other segment expenses	3,029		3,118
Total operating expenses	33,235		26,825
Loss from operations	(33,235)		(26,825)
Interest Income	760		183

Other income (expense)	(113)		1,169
Net loss	$	(32,588)	$	(25,473)