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Commitments and Contingencies
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Fixed Asset Purchase Commitments

There were no material changes to the Company’s capital commitments that were disclosed in the Company’s Annual Report.

Lease Commitments

On July 23, 2025, the Company entered into an operating lease for 8,857 square feet of office space in Princeton, New Jersey (the “Princeton Lease Agreement”). The term of the Princeton Lease Agreement commenced on August 18, 2025 and was set to expire on August 31, 2028. The average annual lease payments under the Princeton Lease Agreement are approximately $292. Subsequently, on April 15, 2026, the Company entered into an amendment to the Princeton Lease Agreement (the “Princeton Amendment”). The Princeton Amendment expands the office space by 6,350 square feet for a total 15,207 square feet, and extends the lease term through August 31, 2029. The average annual lease payments under the Princeton Lease Agreement, upon effect of the Princeton Amendment, will be approximately $507.

Except as noted above, there were no material changes to the Company’s lease commitments that were disclosed in the Company’s Annual Report.

Other Commitments
The Company enters into contracts in the normal course of business with various third parties for clinical trials, preclinical research studies and testing, manufacturing and other services and products for operating purposes. Most contracts provide for termination upon notice, and therefore are cancellable contracts. The majority of these commitments are due within one year. There have been no material changes to the Company’s other contractual commitments that were disclosed in the Company’s Annual Report.

The Company has certain commitments under its agreements with Akeso. The License Agreement also contains certain manufacturing and purchase commitments. As of June 30, 2026, the Company is unable to estimate the amount, timing or likelihood of achieving the milestones, making future product sales or assessing estimated forecasts for manufacturing and supplied materials which these contingent payment obligations relate to.
Legal Proceedings

Litigation Relating to the December 2022 Notes Entered into in Connection with the License Agreement

On March 17, 2025, Rainaldi Revocable Trust, a purported stockholder of the Company, filed a derivative lawsuit in the Delaware Court of Chancery against certain of the Company’s current and former directors and the Company, solely as a nominal defendant, concerning the Note Purchase Agreement the Company entered into with Mr. Duggan and Dr. Zanganeh, pursuant to which the Company issued to Mr. Duggan and Dr. Zanganeh unsecured promissory notes in the amount of $400,000 and $20,000, respectively, which matured and became due on February 15, 2023 and an unsecured promissory note to Mr. Duggan in the amount of $100,000 (collectively, the “December 2022 Notes”) in connection with the License Agreement. The suit asserts claims for breach of fiduciary duty and unjust enrichment and seeks, among other things, unspecified damages, rescission of the shares that Mr. Duggan and Dr. Zanganeh received as part of prepaid interest payments under the December 2022 Notes, as well as attorneys’ fees and costs. Defendants’ Motion to Dismiss the complaint was filed on May 16, 2025. Plaintiff filed the Motion to Certify certain constitutional questions to the Delaware Supreme Court on May 29, 2025. Defendants agreed to a stipulation staying briefing on the Motion to Certify and the Motion to Dismiss pending the Delaware Supreme Court’s decision in another case involving substantially the same constitutional questions. On June 18, 2025, the Court granted such stipulation. The Delaware Supreme Court's decision came down on February 27, 2026. The briefing schedule for the Motion to Dismiss was filed by the parties with the courts on April 16, 2026. On May 27, 2026, Plaintiff and the Defendants stipulated to voluntary dismissal of Plaintiff’s claims with prejudice as to Plaintiff and without prejudice as to any other stockholder of the Company, and the Court approved that dismissal the same day.