Asset Sale |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Asset Sale | 16. Asset Sale On April 2, 2026, the Company entered into an asset purchase agreement for its GMI-1687 and GMI-1271 technology, including intellectual property, which had been acquired as part of the reverse merger and was not in active development, for cash consideration of $1.8 million. Additional contingent consideration is included in the asset purchase agreement and is dependent on future development, regulatory, and sales milestones. The Company recorded the cash consideration of $1.8 million as a gain on sale of a nonfinancial asset under ASC 610-20. As there was no recorded value for the assets sold, $1.8 million was recognized as other income during the three and six months ended June 30, 2026 within the condensed consolidated statement of operations and comprehensive loss. The Company has fully constrained the variable consideration as of June 30, 2026.
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