| Significant CODM expense categories |
The table below summarizes the significant expense categories regularly provided to, and reviewed by, the CODM for the three months ended March 31, 2026 and 2025 (in thousands):
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Three Months Ended March 31, |
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| Operating expenses: |
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|
| Research and development |
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|
|
|
|
| Clinical and manufacturing |
|
$ |
672 |
|
|
$ |
38 |
|
| Other research and development |
|
|
987 |
|
|
|
472 |
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|
|
|
|
|
|
|
|
| Total research and development |
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|
1,659 |
|
|
|
510 |
|
| General and administrative |
|
|
2,136 |
|
|
|
712 |
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|
|
|
|
|
|
|
|
|
| Loss from operations |
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|
(3,795 |
) |
|
|
(1,222 |
) |
| Other (income) expense, net |
|
|
(41 |
) |
|
|
487 |
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|
|
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|
|
|
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| Total other (income) expense, net |
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|
(41 |
) |
|
|
487 |
|
|
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|
|
|
|
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| Net loss |
|
$ |
(3,754 |
) |
|
$ |
(1,709 |
) |
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|
The table below summarizes the significant expense categories regularly provided to, and reviewed by, the CODM for the years ended December 31, 2025, 2024 and 2023 (in thousands).
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License and service revenue: |
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$ |
— |
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|
$ |
6,359 |
|
|
$ |
— |
|
Operating expenses: |
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|
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|
Research and development |
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|
|
|
|
|
|
|
|
|
|
|
Clinical and manufacturing |
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|
718 |
|
|
|
1,193 |
|
|
|
2,577 |
|
Other research and development |
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|
2,338 |
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|
|
2,384 |
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|
|
6,021 |
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Total research and development |
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|
3,056 |
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|
|
3,577 |
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|
8,598 |
|
General and administrative |
|
|
3,382 |
|
|
|
5,250 |
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|
|
8,690 |
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|
|
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|
|
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Total operating expenses: |
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|
6,438 |
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|
|
8,827 |
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|
|
17,288 |
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|
|
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|
|
|
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|
|
|
|
Loss from operations |
|
|
(6,438 |
) |
|
|
(2,468 |
) |
|
|
(17,288 |
) |
Other (income) expense, net |
|
|
(443 |
) |
|
|
675 |
|
|
|
(234 |
) |
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|
|
|
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|
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|
Total other expense (income), net |
|
|
(443 |
) |
|
|
675 |
|
|
|
(234 |
) |
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|
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|
Net loss |
|
$ |
(5,995 |
) |
|
$ |
(3,143 |
) |
|
$ |
(17,054 |
) |
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