Agreements	3 Months Ended
Mar. 31, 2026
Agreements
Agreements	Note 13 – Agreements License Agreement with Sanofi On September 13, 2023, the Company entered into a License Agreement with Sanofi pursuant to which the Company obtained certain exclusive worldwide rights to develop and commercialize Capeserod for gastrointestinal indications. Under the terms of the agreement, the Company paid Sanofi an upfront payment of $500,000 in October 2023. The agreement also included potential development, regulatory and commercial milestone payments, as well as royalty obligations based on future net sales. The upfront payment was recorded as research and development expense during the year ended December 31, 2023. On February 26, 2025, the Company provided notice of termination to Sanofi. The License Agreement was terminated effective February 2025 and no additional payments were due to Sanofi.

Agreements

3 Months Ended

Mar. 31, 2026

Note 13 – Agreements

License Agreement with Sanofi

On September 13, 2023, the Company entered into a License Agreement with Sanofi pursuant to which the Company obtained certain exclusive worldwide rights to develop and commercialize Capeserod for gastrointestinal indications.

Under the terms of the agreement, the Company paid Sanofi an upfront payment of $500,000 in October 2023. The agreement also included potential development, regulatory and commercial milestone payments, as well as royalty obligations based on future net sales.

The upfront payment was recorded as research and development expense during the year ended December 31, 2023.

On February 26, 2025, the Company provided notice of termination to Sanofi. The License Agreement was terminated effective February 2025 and no additional payments were due to Sanofi.