Stockholders' equity (Tables)

6 Months Ended

Jun. 30, 2026


	Three Months	Six Months
	Ended	Ended
Warrant Issuance	June 30, 2026	June 30, 2026
January 2026 Pre-funded	367,740	1,998,704
January 2026 Series C	30,039	30,039
January 2026 Series D	749,539	749,539
Total exercised warrants	1,147,318	2,778,282

Schedule of outstanding warrants


	Shares of Common Stock Issuable
	for Outstanding Warrants
	As of		Exercise
Warrant Issuance	June 30, 2026	December 31, 2025	Price		Expiration Date
January 2021	942	942	$	15,919.2000	July 2026
November 2022 Series B ⁽¹⁾	16,176	16,176	$	0.0000	December 2027
June 2024 Placement Agent	11,564	11,564	$	54.0375	July 2026
June 2024 Series B ⁽²⁾	693,962	693,962	$	43.2300	September 2029 (latest date)
January 2026 Series C	4,478,322	—	$	3.1000	January 2031
January 2026 Series D ⁽³⁾	3,758,822	—	$	3.1000	January 2028
Total	8,959,788	722,644

(1)These warrants have a cashless exercise provision whereby the warrants can be exercised for common stock for no additional consideration, which renders the $264.00 per warrant exercise price to be zero.

(2)These warrants expire on the earlier of September 18, 2029 and the six months anniversary following the date on which we publicly announce a positive data readout for our Phase 1, Part 3 clinical trial for DA-1726.

(3)These warrants are callable at our option following the release of a positive data readout for our Phase 1, Part 3 clinical trial for DA-1726 via a widely disseminated press release, subject to the satisfaction of certain conditions.

Schedule of outstanding awards issued pursuant to our stock-based award plans and inducement plan


			Remaining shares of
	Stock		common stock available
Plan Name	Options	RSUs	for future issuance
2019 Plan	136	—	—
2022 Plan	284	234,055	247,729
2021 Inducement Plan	—	—	378
Total	420	234,055	248,107

Schedule of restricted stock units ("RSUs") and related transactions

The following table summarizes the status of our outstanding restricted stock units (“RSUs”) and related transactions for the period presented, as well as our vested and deferred release RSUs as of January 1, 2026 and June 30, 2026 (in thousands, except share and per share amounts):


	Outstanding					Vested and Deferred Release
	Shares of	Average				Shares of	Average
	Common Stock	Grant Date		Aggregate		Common Stock	Grant Date		Aggregate
	Issuable	Fair Value		Fair		Issuable	Fair Value		Intrinsic
	for RSUs	Price		Value		for RSUs	Price		Value
As of January 1, 2026	29,295	$	18.86	$	247	3,082	$	43.85	$	26
Granted	214,116		2.54
Vested and released	(9,356)		17.73		20
As of June 30, 2026	234,055	$	3.98	$	335	11,443	$	20.23	$	16

Schedule of stock-based compensation expense

Stock-based compensation expense was included in operating expenses as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
General and administrative	$	92	$	83	$	161	$	175
Research and development		38		28		69		68
Total stock-based compensation	$	130	$	111	$	230	$	243