5. Prepaid Expenses and Other Assets

Prepaid expenses and other current assets consist of the following:

During the six months ended June 30, 2026, the Company financed its annual insurance premiums through a commercial premium finance arrangement. As of June 30, 2026, prepaid insurance and a related insurance financing liability of approximately $124,000 and $106,000, respectively, are included in prepaid expenses and other assets and in accounts payable and other accrued liabilities.