| Schedule of Reconciliation of Condensed Consolidated Operating Expenses and Loss |
A reconciliation to condensed consolidated operating expenses as our single segment operating loss for the three and six months ended June 30, 2026 and 2025, is included in the table below (in thousands):
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For The Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Direct research and development expenses |
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Research and development salaries and benefits |
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$ |
4,068 |
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$ |
2,707 |
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$ |
8,174 |
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$ |
5,359 |
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Clinical trial expense |
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5,132 |
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1,916 |
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8,329 |
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3,843 |
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Lab supplies and animal care |
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852 |
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382 |
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1,610 |
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|
938 |
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Lab services, consulting, and other direct research costs |
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877 |
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433 |
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1,880 |
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1,376 |
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Total direct research and development expenses |
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10,929 |
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5,438 |
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19,993 |
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11,516 |
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Indirect research and development expenses |
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1,476 |
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1,212 |
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2,948 |
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2,458 |
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Share based compensation (research and development) |
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3,767 |
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347 |
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6,629 |
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|
680 |
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Total research and development expense |
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16,172 |
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6,997 |
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29,570 |
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14,654 |
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General and administrative expense |
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Administrative payroll |
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1,717 |
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1,294 |
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3,535 |
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|
2,647 |
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Professional fees and travel |
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826 |
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|
214 |
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1,543 |
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|
639 |
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Insurance, office expense, and other administrative expenses |
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1,182 |
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|
947 |
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2,649 |
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|
2,004 |
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Share based compensation (general and administrative) |
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3,480 |
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|
280 |
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6,078 |
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|
560 |
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Total general and administrative expenses |
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7,205 |
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2,735 |
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13,805 |
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|
5,850 |
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Total operating expense |
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$ |
23,377 |
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$ |
9,732 |
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$ |
43,375 |
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$ |
20,504 |
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