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us-gaap:MaterialReconcilingItemsMember 2025-01-01 2025-06-30 shares iso4217:USD iso4217:USD shares bhvn:investment bhvn:purchase pure bhvn:prodrug bhvn:claim utr:sqft bhvn:segment 0001935979 2026 Q2 false --12-31 1 1 10-Q true 2026-06-30 false 001-41477 Biohaven Ltd. D8 c/o Biohaven Pharmaceuticals, Inc. 215 Church Street New Haven CT 06510 203 404-0410 Common Shares, no par value BHVN NYSE Yes Yes Large Accelerated Filer false false false 151043781 238033000 229957000 29833000 89180000 27041000 47022000 1652000 2170000 296559000 368329000 15089000 15964000 18400000 18400000 1390000 1390000 39301000 47364000 370739000 451447000 12114000 11643000 50544000 104291000 62658000 115934000 32887000 39958000 259480000 238900000 3492000 4583000 358517000 399375000 0 0 10000000 10000000 0 0 0 0 0 0 0 0 200000000 200000000 151017531 151017531 132775113 132775113 2138861000 1934276000 220365000 193984000 -2352379000 -2084536000 5375000 8348000 12222000 52072000 370739000 451447000 100814000 184367000 204641000 371951000 24085000 27334000 50686000 61311000 124899000 211701000 255327000 433262000 -124899000 -211701000 -255327000 -433262000 -12021000 13815000 -11853000 14308000 -136920000 -197886000 -267180000 -418954000 391000 261000 663000 870000 -137311000 -198147000 -267843000 -419824000 -0.91 -0.91 -1.94 -1.94 -1.80 -1.80 -4.11 -4.11 150636620 150636620 102372820 102372820 149134255 149134255 102159294 102159294 -137311000 -198147000 -267843000 -419824000 -2927000 -76000 -2973000 -82000 -140238000 -198223000 -270816000 -419906000 -267843000 -419824000 4625000 4224000 47450000 73874000 858000 4844000 0 7314000 17650000 1190000 1357000 4247000 -20087000 11781000 471000 1599000 -56958000 24375000 -235017000 -333060000 110000000 330000000 49512000 178144000 454000 694000 0 1829000 60034000 149333000 0 250000000 178884000 0 0 1247000 3928000 1446000 0 0 182812000 250199000 19000 -17000 7848000 66455000 232779000 102542000 240627000 168997000 Nature of the Business and Basis of Presentation <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Biohaven Ltd. (“we,” “us," "our," "Biohaven" or the “Company”) was incorporated in Tortola, British Virgin Islands in May 2022. Biohaven is a biopharmaceutical company focused on the discovery, development and commercialization of life-changing treatments in key therapeutic areas, including immunology, obesity, neuroscience, and oncology. The Company is advancing its innovative portfolio of therapeutics, leveraging its proven drug development experience and multiple, proprietary drug development platforms. Biohaven's key clinical and preclinical programs include Kv7 ion channel modulation for epilepsy; Molecular Degrader of Extracellular Proteins (“MoDE”) and Targeted Removal of Aberrant Protein ("TRAP") extracellular protein degradation for immunological diseases; and myostatin-activin pathway targeting agent for neuromuscular and metabolic diseases, including obesity. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company is subject to risks and uncertainties common to companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development ("R&amp;D") efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts may require additional capital, additional personnel and infrastructure, and further regulatory and other capabilities. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Separation from Biohaven Pharmaceutical Holding Company Ltd. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On October 3, 2022, Biohaven Pharmaceutical Holding Company Ltd. (the “Former Parent”) completed the distribution to holders of its common shares of all of our outstanding common shares and the spin-off of Biohaven from the Former Parent (the “Separation”). As a result of the Separation, Biohaven became an independent, publicly traded company as of October 3, 2022, and commenced regular way trading under the symbol “BHVN”’ on the New York Stock Exchange on October 4, 2022.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The accompanying condensed consolidated financial statements include the accounts of Biohaven and our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Going Concern</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In accordance with Accounting Standards Codification (“ASC”) 205-40, Going Concern, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Through August 10, 2026, the Company has funded its operations primarily with funding from the Former Parent, including a cash contribution received at the Separation, proceeds from the sale of its common shares, and proceeds from the sale of senior secured notes under its Note Purchase Agreement (as defined in Note 4 "Fair Value of Financial Assets and Liabilities" and described in Note 6, "Notes Payable"). The Company has incurred recurring losses since its inception and expects to continue to generate operating losses for the foreseeable future. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As of the date of issuance of these condensed consolidated financial statements, the Company expects its existing cash, cash equivalents, and marketable securities will be sufficient to fund operating and financial commitments, and other cash requirements, for at least one year after the issuance date of these financial statements. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">To execute its business plans, the Company will require funding to support its continuing operations and pursue its growth strategy. Until such time as the Company can generate significant revenue from product sales or royalties, if ever, it expects to finance its operations through the sale of public or private equity, debt financings or other capital sources, </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">including collaborations with other companies or other strategic transactions. However, there can be no assurance that such funding will be available on acceptable terms, in a timely manner, or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s shareholders. If the Company is unable to obtain funding, the Company could be forced to delay, reduce or eliminate some or all of its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations.</span></div> Summary of Significant Accounting Policies <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Our significant accounting policies are described in Note 2, "Summary of Significant Accounting Policies," to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"). Updates to our accounting policies are discussed below in this Note 2.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Unaudited Interim Condensed Consolidated Financial Information</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information. The accompanying unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The accompanying year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position, results of operations, and cash flows for all periods presented. The results for the three and six months ended June 30, 2026 are not necessarily indicative of results to be expected for the year ending December 31, 2026, any other interim periods or any future year or period. The financial information included herein should be read in conjunction with the financial statements and notes in the Company's 2025 Form 10-K.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual for research and development expenses, valuation of forward contract and derivative liability, and valuation of notes payable. In addition, management’s assessment of the Company’s ability to continue as a going concern involves the estimation of the amount and timing of future cash inflows and outflows. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Restricted Cash</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Restricted cash included in other current assets in the condensed consolidated balance sheets consists primarily of employee contributions to the Company's employee share purchase plan held for future purchases of the Company's outstanding shares. See Note 9, "Non-Cash Share-Based Compensation," of the 2025 Form 10-K for additional information on the Company's employee share purchase plan. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Restricted cash included in other non-current assets in the condensed consolidated balance sheets primarily represents collateral held by banks for a letter of credit ("LOC") issued in connection with the leased office space in Yardley, Pennsylvania and LOCs issued in connection with the leased office and lab spaces in Cambridge, Massachusetts and Pittsburgh, Pennsylvania. See Note 12, ‘‘Commitments and Contingencies,’’ of the 2025 Form 10-K for additional information on the real estate leases.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following represents a reconciliation of cash and cash equivalents in the condensed consolidated balance sheets to total cash, cash equivalents and restricted cash as of June 30, 2026 and June 30, 2025, respectively, in the condensed consolidated statements of cash flows:</span></div><div style="margin-bottom:6pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.923%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.867%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,033 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">165,797 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Restricted cash (included in other current assets)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">103 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">250 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Restricted cash (included in other non-current assets)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,491 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,950 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total cash, cash equivalents and restricted cash at the end of the period in the condensed consolidated statement of cash flows</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">240,627 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">168,997 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div>In November 2024, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, in the notes to the financial statements, of specified information about certain costs and expenses. This ASU is effective for public entities for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact ASU 2024-03 will have on its consolidated financial statements. <div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Unaudited Interim Condensed Consolidated Financial Information</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information. The accompanying unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The accompanying year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position, results of operations, and cash flows for all periods presented. The results for the three and six months ended June 30, 2026 are not necessarily indicative of results to be expected for the year ending December 31, 2026, any other interim periods or any future year or period. The financial information included herein should be read in conjunction with the financial statements and notes in the Company's 2025 Form 10-K.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual for research and development expenses, valuation of forward contract and derivative liability, and valuation of notes payable. In addition, management’s assessment of the Company’s ability to continue as a going concern involves the estimation of the amount and timing of future cash inflows and outflows. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Restricted Cash</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Restricted cash included in other current assets in the condensed consolidated balance sheets consists primarily of employee contributions to the Company's employee share purchase plan held for future purchases of the Company's outstanding shares. See Note 9, "Non-Cash Share-Based Compensation," of the 2025 Form 10-K for additional information on the Company's employee share purchase plan. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Restricted cash included in other non-current assets in the condensed consolidated balance sheets primarily represents collateral held by banks for a letter of credit ("LOC") issued in connection with the leased office space in Yardley, Pennsylvania and LOCs issued in connection with the leased office and lab spaces in Cambridge, Massachusetts and Pittsburgh, Pennsylvania. See Note 12, ‘‘Commitments and Contingencies,’’ of the 2025 Form 10-K for additional information on the real estate leases.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following represents a reconciliation of cash and cash equivalents in the condensed consolidated balance sheets to total cash, cash equivalents and restricted cash as of June 30, 2026 and June 30, 2025, respectively, in the condensed consolidated statements of cash flows:</span></div><div style="margin-bottom:6pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.923%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.867%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,033 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">165,797 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Restricted cash (included in other current assets)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">103 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">250 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Restricted cash (included in other non-current assets)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,491 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,950 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.5pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total cash, cash equivalents and restricted cash at the end of the period in the condensed consolidated statement of cash flows</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">240,627 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">168,997 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 238033000 165797000 103000 250000 2491000 2950000 240627000 168997000 <div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div>In November 2024, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, in the notes to the financial statements, of specified information about certain costs and expenses. This ASU is effective for public entities for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact ASU 2024-03 will have on its consolidated financial statements. Marketable Securities<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of debt securities available-for-sale by type of security at June 30, 2026 and December 31, 2025 were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.286%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Allowance for Credit Losses</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Net Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross Unrealized Gains</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross Unrealized Losses</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">61 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">61 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The fair values of debt securities available-for-sale by classification in the condensed consolidated balance sheets were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.274%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.128%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.130%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,580 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,990 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Marketable securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,833 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,180 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The net amortized cost and fair value of debt securities available-for-sale at June 30, 2026 and December 31, 2025 are shown below by contractual maturity. Actual maturities may differ from contractual maturities because securities may be restructured, called or prepaid, or if the Company intends to sell a security prior to maturity.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.526%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">December 31, 2025</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Net Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Net Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Due to mature:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Less than one year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> Summarized below are the debt securities available-for-sale the Company held at June 30, 2026 that were in an unrealized loss position, aggregated by the length of time the investments have been in that position:</span></div><div style="margin-bottom:6pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.005%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.283%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="15" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Less than 12 months</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Number of Securities</span></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Unrealized Losses</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">59,794 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">    </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company did not have any investments in an unrealized loss position as of December 31, 2025. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company did not have any investments in a continuous unrealized loss position for more than twelve months as of June 30, 2026 and December 31, 2025.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company reviewed the securities in the table above and concluded that they are performing assets generating investment income to support the needs of the Company's business. In performing this review, the Company considered factors such as the credit quality of the investment security based on research performed by external rating agencies and the prospects of realizing the carrying value of the security based on the investment’s current prospects for recovery. As of June 30, 2026, the Company did not intend to sell these securities and did not believe it was more likely than not that it would be required to sell these securities prior to the anticipated recovery of their amortized cost basis.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Net Investment Income</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Gross investment income includes interest income from debt securities available-for-sale, money-market funds, cash and restricted cash. Net investment income included in other (expense) income, net in the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2026 and 2025 was as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.548%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,239 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,076 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,801 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,304 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other investments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,468 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,122 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,181 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,133 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gross investment income</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,707 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,198 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,982 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,437 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Investment expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(24)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(45)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(50)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(78)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net investment income</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,683 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,153 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,932 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,359 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">We utilize the specific identification method in computing realized gains and losses on sales of debt securities. The Company had no sales of debt securities available-for-sale during the three and six months ended June 30, 2026 and 2025.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of debt securities available-for-sale by type of security at June 30, 2026 and December 31, 2025 were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.286%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Allowance for Credit Losses</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Net Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross Unrealized Gains</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Gross Unrealized Losses</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">61 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">61 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The fair values of debt securities available-for-sale by classification in the condensed consolidated balance sheets were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.274%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.128%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.130%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,580 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,990 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Marketable securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,833 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,180 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 134413000 0 134413000 2000 2000 134413000 134413000 0 134413000 2000 2000 134413000 114109000 0 114109000 61000 0 114170000 114109000 0 114109000 61000 0 114170000 104580000 24990000 29833000 89180000 134413000 114170000 <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The net amortized cost and fair value of debt securities available-for-sale at June 30, 2026 and December 31, 2025 are shown below by contractual maturity. Actual maturities may differ from contractual maturities because securities may be restructured, called or prepaid, or if the Company intends to sell a security prior to maturity.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.526%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">December 31, 2025</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Net Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Net Amortized Cost</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Due to mature:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Less than one year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">134,413 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,109 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 134413000 134413000 114109000 114170000 Summarized below are the debt securities available-for-sale the Company held at June 30, 2026 that were in an unrealized loss position, aggregated by the length of time the investments have been in that position:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.005%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.283%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="15" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Less than 12 months</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Number of Securities</span></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value</span></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;border-top:1pt solid #ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Unrealized Losses</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">59,794 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table> 4 59794000 2000 0 0 Net investment income included in other (expense) income, net in the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2026 and 2025 was as follows:<div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.548%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Debt securities</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,239 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,076 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,801 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,304 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other investments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,468 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,122 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,181 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,133 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gross investment income</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,707 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,198 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,982 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,437 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Investment expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(24)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(45)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(50)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(78)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net investment income</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,683 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,153 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,932 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,359 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 1239000 3076000 2801000 6304000 1468000 1122000 3181000 2133000 2707000 4198000 5982000 8437000 24000 45000 50000 78000 2683000 4153000 5932000 8359000 0 0 0 0 0 0 0 0 Fair Value of Financial Assets and Liabilities <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The preparation of the Company’s condensed consolidated financial statements in accordance with GAAP requires certain assets and liabilities to be reflected at their fair value and others to be reflected on another basis, such as an adjusted historical cost basis. In this note, the Company provides details on the fair value of financial assets and liabilities and how it determines those fair values.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Financial Instruments Measured at Fair Value on the Condensed Consolidated Balance Sheets</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Certain of the Company's financial instruments are measured at fair value on the condensed consolidated balance sheets on a recurring basis. The fair values of these instruments are based on valuations that include inputs that can be classified within one of three levels of a hierarchy established by GAAP. See Fair Value Measurements in Note 2, "Summary of Significant Accounting Policies," included in the 2025 Form 10-K for a description of the type of valuation information ("valuation inputs") that qualifies a financial asset or liability for each level.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Financial assets and liabilities measured at fair value on a recurring basis on the condensed consolidated balance sheets at June 30, 2026 and December 31, 2025 were as follows:</span></div><div style="margin-bottom:6pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.853%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.876%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.335%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="21" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value Measurement Using:</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Balance Sheet Classification</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Type of Instrument</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 1</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 2</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 3</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Assets: </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,383 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,383 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,875 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">74,705 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,580 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Marketable securities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bonds</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,833 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,833 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,282 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,282 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">136,540 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,538 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">241,078 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Liabilities:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 7.75pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable, non-current</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total liabilities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Assets:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">195,265 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">195,265 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,990 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,990 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Marketable securities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,180 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,180 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other current assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">250 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">250 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,017 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,017 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">198,532 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">312,702 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Liabilities:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable, non-current</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">There were no securities transferred between Level 1, 2, and 3 during the three and six months ended June 30, 2026 and 2025.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following is a description, including valuation methodology, of the financial assets and liabilities measured at fair value on a recurring basis:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Cash and Cash Equivalents, Other Current Assets, and Other Non-Current Assets</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Financial assets measured at fair value on a recurring basis classified within cash and cash equivalents and other non-current assets at June 30, 2026 and within cash and cash equivalents, other current assets and other non-current assets at December 31, 2025, consisted of cash invested in U.S. treasury bills with original maturities of three months or less at time of purchase and short-term money market funds that are readily convertible to known amounts of cash and redeemable daily at the election of the Company. The carrying value for these financial assets approximates fair value due to the near-term maturities of the U.S treasury bills and money market funds underlying security holdings resulting in an insignificant change in value because of changes in interest rates. </span></div><div style="margin-bottom:8pt;margin-top:8pt;padding-left:13.5pt;text-indent:4.5pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Marketable Securities </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">At June 30, 2026, the fair value of the Company’s Level 2 debt securities is obtained from quoted market prices of debt securities with similar characteristics, quoted prices from identical assets in inactive markets, or discounted cash flows to estimate fair value. The Company's Level 2 marketable securities consisted of off-the-run U.S. treasury bills. When quoted prices are available in an active market, these assets are classified in Level 1 of the fair value hierarchy. The Company's Level 1 marketable securities consisted of on-the-run U.S. treasury bills.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Note Purchase Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On April 28, 2025, the Company entered into a Note Purchase Agreement (the "NPA" or "Note Purchase Agreement") as described in further detail in Note 6, "Notes Payable." The Company elected to account for the NPA under the fair value option as permitted by ASC 825, Financial Instruments ("ASC 825").</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company determined the fair value of the First Notes (as defined in Note 6, "Notes Payable") on April 28, 2025 was $255,880. The difference between the fair value at execution and the principal of $250,000 was due to a purchased loan commitment for the Second Notes (as defined in Note 6, "Notes Payable"). The purchased loan commitment resulted in a $5,880 offsetting asset recorded at its fair value within other current assets on the condensed consolidated balance sheet which was determined to be impaired and fully expensed to other (expense) income, net, as of December 31, 2025. The following table provides a roll forward of the fair value of the First Notes for which fair value is determined by Level 3 inputs from December 31, 2025 to June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.538%"><tr><td style="width:1.0%"></td><td style="width:86.288%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.771%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Fair value at December 31, 2025</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Loss on change in fair value reported in other (expense) income, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,012 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Fair value at March 31, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">241,912 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Loss on change in fair value reported in other (expense) income, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,637 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Loss on change in fair value reported in other comprehensive loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,931 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Fair value at June 30, 2026</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="background-color:#ffffff;color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The fair value of the First Notes represents the present value of estimated future payme</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">nts under the NPA for the First Notes. The fair value of the First Notes is calculated using a scenario-based discounted cash flow model. The fair value measurement is based o</span><span style="background-color:#ffffff;color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">n significant Level 3 unobservable inputs such as </span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">management's assumptions on the probability and timing of regulatory approvals for product candidates,</span><span style="background-color:#ffffff;color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> probability and timing of an early redemption of all obligations under the NPA for the First Notes, and discount rate </span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">using a risk-free rate plus Biohaven-specific senior secured credit risk</span><span style="background-color:#ffffff;color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Actual probability and timing of regulatory approvals, probability and timing of an early redemption event at the reporting date, and Biohaven-specific senior secured credit risk could be materially different than our assumptions, and, if so, would mean the estimated fair value could be significantly higher or lower than the fair value determined. An increase in the liability related to the First Notes between the reporting date and settlement date of the liability would have a material adverse effect on the Company's financial performance.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">At June 30, 2026, the difference between the aggregate fair value and the aggregate unpaid principal balance of the First Notes was $9,480.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Financial assets and liabilities measured at fair value on a recurring basis on the condensed consolidated balance sheets at June 30, 2026 and December 31, 2025 were as follows:</span></div><div style="margin-bottom:6pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.853%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.876%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.335%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="21" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Fair Value Measurement Using:</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Balance Sheet Classification</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Type of Instrument</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 1</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 2</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Level 3</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Assets: </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,383 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,383 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,875 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">74,705 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,580 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Marketable securities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bonds</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,833 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,833 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,282 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,282 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">136,540 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,538 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">241,078 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Liabilities:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 7.75pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable, non-current</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total liabilities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">December 31, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Assets:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">195,265 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">195,265 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,990 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,990 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Marketable securities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">U.S. treasury bills</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,180 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">89,180 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other current assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">250 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">250 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Money market funds</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,017 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,017 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">198,532 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114,170 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">312,702 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Liabilities:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Notes payable, non-current</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 104383000 0 0 104383000 29875000 74705000 0 104580000 0 29833000 0 29833000 2282000 0 0 2282000 136540000 104538000 0 241078000 0 0 259480000 259480000 0 0 259480000 259480000 195265000 0 0 195265000 0 24990000 0 24990000 0 89180000 0 89180000 250000 0 0 250000 3017000 0 0 3017000 198532000 114170000 0 312702000 0 0 238900000 238900000 0 0 238900000 238900000 255880000 250000000 5880000 The following table provides a roll forward of the fair value of the First Notes for which fair value is determined by Level 3 inputs from December 31, 2025 to June 30, 2026:<div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.538%"><tr><td style="width:1.0%"></td><td style="width:86.288%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.771%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Fair value at December 31, 2025</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">238,900 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Loss on change in fair value reported in other (expense) income, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,012 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Fair value at March 31, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">241,912 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Loss on change in fair value reported in other (expense) income, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,637 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Loss on change in fair value reported in other comprehensive loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,931 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Fair value at June 30, 2026</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,480 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 238900000 -3012000 241912000 -14637000 -2931000 259480000 -9480000 Balance Sheet Components<div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Property and Equipment, Net</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Property and equipment, net consisted of the following:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:74.302%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.615%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Building and land</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,078 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,078 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Leasehold improvements</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,697 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,697 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Computer hardware and software</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">854 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">854 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Office and lab equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,600 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,437 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Furniture and fixtures</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,024 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,024 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,253 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,090 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17,455)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,126)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Property and equipment, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,089 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,964 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Depreciation expense was $621 and $1,329 for the three and six months ended June 30, 2026, respectively, and $1,060 and $2,075 for the three and six months ended June 30, 2025, respectively.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Other Non-current Assets</span></div><div style="margin-bottom:6pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Other non-current assets consisted of the following:</span></div><div style="margin-bottom:6pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.868%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Operating lease right-of-use assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">36,800 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45,058 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,501 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,306 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">39,301 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,364 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Accrued Expenses and Other Current Liabilities</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Accrued expenses and other current liabilities consisted of the following:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.868%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accrued development milestones</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,500 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">375 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accrued employee compensation and benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,230 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,781 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accrued clinical trial costs</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,664 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,437 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Operating lease liabilities - current portion</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,668 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,756 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2025 Additional Consideration True-Up liability</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">42,710 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other accrued expenses and other current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,482 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,232 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> Accrued expenses and other current liabilities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">50,544 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,291 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Property and equipment, net consisted of the following:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:74.302%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.615%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Building and land</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,078 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,078 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Leasehold improvements</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,697 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,697 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Computer hardware and software</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">854 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">854 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Office and lab equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,600 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,437 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Furniture and fixtures</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,024 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,024 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,253 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,090 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17,455)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,126)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Property and equipment, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,089 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,964 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 14078000 14078000 2697000 2697000 854000 854000 12600000 12437000 2024000 2024000 32253000 32090000 17455000 16126000 15089000 15964000 621000 1329000 1060000 2075000 <div style="margin-bottom:6pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Other non-current assets consisted of the following:</span></div><div style="margin-bottom:6pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.868%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Operating lease right-of-use assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">36,800 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45,058 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,501 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,306 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">39,301 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,364 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div> 36800000 45058000 2501000 2306000 39301000 47364000 <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Accrued expenses and other current liabilities consisted of the following:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.868%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of December 31, 2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accrued development milestones</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,500 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">375 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accrued employee compensation and benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,230 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,781 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Accrued clinical trial costs</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,664 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,437 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Operating lease liabilities - current portion</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,668 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,756 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2025 Additional Consideration True-Up liability</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">42,710 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other accrued expenses and other current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,482 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,232 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> Accrued expenses and other current liabilities</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">50,544 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">104,291 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 3500000 375000 8230000 16781000 24664000 30437000 4668000 5756000 0 42710000 9482000 8232000 50544000 104291000 Notes Payable<div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Note Purchase Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On April 28, 2025 (the “Closing Date”), the Company and certain of its subsidiaries entered into the Note Purchase Agreement, by and among Biohaven Therapeutics Ltd., as issuer (the “Issuer”), the Company and certain subsidiaries of the Company, as obligors (together with the Issuer, the “Obligors”), the Purchasers (as defined in the Note Purchase Agreement) and Beetlejuice SA LLC, an affiliate of Oberland, as purchaser agent (the “Purchaser Agent”). Pursuant to the Note Purchase Agreement, the Purchasers agreed to purchase senior secured notes from the Issuer (i) in an initial tranche shortly after the Closing Date for an aggregate purchase price of $250,000 (the “First Notes”) and (ii) at the Company's option and subject to the satisfaction of certain conditions, including the receipt of approval from the U.S. Food and Drug Administration ("FDA") for troriluzole, in a second tranche in up to three purchases on or before June 30, 2026 for an aggregate purchase price of $150,000 (the “Second Notes”). The proceeds from the sale of the First Notes may be used for working capital and permitted business purposes. The Issuer may also sell to the Purchasers, at the Issuer’s option and subject to the approval of each Purchaser agreeing to participate therein, in its sole discretion, additional notes in up to four purchases for an aggregate purchase price of $200,000 (the “Third Notes” and, together with the First Notes and the Second Notes, the “Notes”), the proceeds of which may be used solely to fund permitted acquisitions and related costs and expenses. The Company and Issuer did not exercise either option to sell any Second or Third Notes prior to June 30, 2026, and those options expired unexercised as of that date. The Company received approximately $250,000 in proceeds from the sale of the First Notes in April 2025.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Purchasers will be entitled to receive payments (the “Revenue Payments”) equal to, initially, 6.25% of the global net sales of troriluzole (“Net Sales”), which will increase pro rata upon the purchase of any of the Second Notes. If the aggregate amount of Revenue Payments (if troriluzole has received FDA approval) and any Milestone Payment (as defined below) made by the Issuer to the Purchasers pursuant to the Note Purchase Agreement as of December 31, 2030 (the “Test Date”) equals or exceeds the amount of the aggregate purchase price for the Notes paid by the Purchasers (the “Total Funded Amount”) to the Issuer pursuant to the Note Purchase Agreement (the “Test Date Condition”), the then-applicable percentage of Net Sales payable as Revenue Payments will automatically decrease by 60% for all subsequent years. If the Test Date Condition is not satisfied by the Test Date, the then-applicable percentage of Net Sales payable as Revenue Payments will automatically increase for all subsequent years to the lesser of (i) a rate that would have provided the Purchasers with 100% of the Total Funded Amount as of the Test Date had such rate applied from the Closing Date through and including the Test Date and (ii) 80%. The Revenue Payments will become payable to the Purchasers on a quarterly basis after the Closing Date.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Issuer will also be obligated to pay to the Purchasers a milestone payment (the “Milestone Payment”) equal to 35% of the Total Funded Amount upon the approval by the FDA or European Medicines Agency (“EMA”) of troriluzole or other Company products. The Milestone Payment will be payable in equal quarterly installments starting in the quarter after the approval is received or, if the Milestone Payment is earned after the Test Date, in one single payment on the 10</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> Business Day (as defined in the Note Purchase Agreement) after the date the approval is received. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In addition to the Revenue Payments and the Milestone Payment discussed above, if the Test Date Condition is not satisfied, then the Company will be obligated to make a one-time payment to the Purchasers equal to 100% of the Total Funded Amount as of the Test Date less the aggregate Revenue Payments and Milestone Payments made to the Purchasers as of the Test Date (the “True-Up Payment”). If troriluzole has not received FDA approval for the treatment of obsessive compulsive disorder or spinocerebellar ataxia as of the Test Date, any Milestone Payments shall be excluded in calculating the True-Up Payment. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Purchasers’ right to receive the Revenue Payments shall terminate on the date on which the Purchasers have received Revenue Payments and Milestone Payments (the “Total Payments”), together with any True-Up Payment paid by the Issuer to the Purchasers, in an aggregate amount equal to the then-applicable Cap Amount, unless the Note Purchase Agreement is terminated prior to such date. The “Cap Amount” means an amount equal to the Total Funded Amount multiplied by (x) on or prior to the earlier of the Test Date and the date the Test Date Condition is satisfied, 1.65 with respect to the Second Notes and 1.95 with respect to the First Notes and any Third Notes, and (y) after the earlier of the Test Date and the date the Test Date Condition is satisfied, (a) with respect to the First Notes and Third Notes, (i) if the Test Date Condition is satisfied, 1.60, (ii) if the Test Date Condition is not satisfied and the Total Payments as of the Test Date are equal to or greater than 90% of the Total Funded Amount, 1.80, (iii) if the Test Date Condition is not satisfied and the Total Payments as of the Test Date are less than 90% but equal to or greater than 50% of the Total Funded Amount, 1.95, (iv) if the Test Date Condition is not satisfied and the Total Payments as of the Test Date are less than 50% of the Total Funded Amount, 2.10 if on or prior to the 8</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary of the Closing Date and 2.25 if after the 8</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary of the Closing Date, and (b) with respect to the Second Notes, (i) if the Test Date Condition is satisfied, 1.40, (ii) if the Test Date Condition is not satisfied and the Total Payments as of the Test Date are equal to or greater than 50% of the Funded Amount, 1.65, and (iii) if the Test Date Condition is not satisfied and the Total Payments as of the Test Date are less than 50% of the Funded Amount, 1.75. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">If the Purchasers have not received Total Payments equal to the then-applicable Cap Amount as of the 10</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary of the Closing Date (or, if no products of the Company have been approved by the FDA or EMA on or before the Test Date, the 8</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary of the Closing Date), the Issuer will be obligated to pay to the Purchasers an amount equal to the Cap Amount less the Total Payments made as of such date.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Under the Note Purchase Agreement, the Issuer has an option (the “Call Option”) to terminate the Note Purchase Agreement and repurchase the Notes in full at any time upon advance written notice. Additionally, the Purchasers have an option (the “Put Option”) to terminate the Note Purchase Agreement and to require the Company to repurchase the Notes in full upon certain enumerated events, including, but not limited to, payment defaults, covenant defaults, material breaches of representations and warranties, cross defaults to material debt, bankruptcy and insolvency defaults, material judgment defaults, key man event or a change of control. The required purchase price with respect to the Call Option and the Put Option, as applicable, shall be (a) with respect to the portion of the Total Funded Amount relating to the First Notes and the Third Notes, (i) 120% of such amount if Purchasers exercise the Put Option (other than in connection with a change of control or in connection with a sale of all or substantially all assets relating to troriluzole under certain conditions) on or prior to the first anniversary of the Closing Date, (ii) 135% of such amount if the First Notes and Third Notes are repurchased voluntarily or in connection with a change of control on or prior to the date that is 18 months after the Closing Date or in connection with a definitive agreement for the sale of all or substantially all assets relating to troriluzole by August 31, 2025 and the repurchase of the Notes by September 30, 2025 and provided that, in either case, no Default or Event of Default (each as defined in the Note Purchase Agreement) is continuing at such time, (iii) 150% of such amount if the First Notes and Third Notes are repurchased on or prior to the date that is 18 months after the Closing Date and the prior clauses (i) and (ii) do not apply, (iv) 175% of such amount if the First Notes and Third Notes are repurchased from and after the date that is 18 months after the Closing Date and prior to the third anniversary of the Closing Date and (v) 195% of such amount if the First Notes and Third Notes are repurchased after the third anniversary of the Closing Date, provided that if the Total Payments as of the Test Date are less than 50% of the Total Funded Amount, the required purchase price shall be 210% of such amount if such purchase price is paid on or prior to the 8</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary of the Closing Date, and 225% of such amount if such purchase price is paid after the 8</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> anniversary of the Closing Date, and (b) with respect to the portion of the Total Funded Amount relating to the Second Notes, (i) 120% of such amount if the Second Notes are repurchased on or prior to the first anniversary of the first purchase date for such Second Notes, (ii) 135% of such amount if the Second Notes are repurchased after the first anniversary but on or prior to the second anniversary of the first purchase date for such Second Notes and (iii) 175% of such amount if the Second Notes are repurchased after the second anniversary of the first purchase date for such Second Notes, except in the event that the </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Total Payments as of the Test Date are equal to or greater than 50% of the Total Funded Amount, in which case the required purchase price shall be 165% of such amount, minus in each case in the preceding clauses (a) and (b), the aggregate Total Payments and any True-Up Payment made to the Purchasers prior to such date.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Issuer’s obligations under the Note Purchase Agreement are guaranteed by the Company and certain of its subsidiaries (the “Guarantors”). To secure the Issuer’s obligations under the Note Purchase Agreement and the Guarantors’ obligations under the guarantees, the Obligors have granted the Purchaser Agent, for the benefit of the Purchasers, a security interest in the Obligors’ cash and equity interests and in specific assets related to troriluzole. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Note Purchase Agreement contains affirmative and negative covenants, including covenants that limit or restrict the Obligors’ and their subsidiaries’ ability to, among other things, incur indebtedness, grant liens, merge or consolidate, dispose of assets, make investments, make acquisitions, enter into certain transactions with affiliates, pay dividends or make distributions, repurchase stock and enter into restrictive agreements, in each case subject to certain exceptions set forth in the Note Purchase Agreement. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In the event that by the reporting deadline of March 1, 2027, the Company's audited financial statements for the year ended December 31, 2026 or any year thereafter for the term of the agreement, are subject to any qualification, emphasis of matter or statement as to “going concern” or scope of audit, subject to certain exceptions, the Company would be in breach of its financial statement delivery covenant under the Note Purchase Agreement. In such event, if such requirement was not amended or waived by the Purchasers, the Purchasers could have the right to exercise their remedies under the Note Purchase Agreement, which could include, but not be limited to, declaring an event of default and accelerating payment of outstanding amounts thereunder (which amounted to $250,000 as of June 30, 2026), plus a required premium as noted above.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company elected to account for the Note Purchase Agreement using the fair value option as permitted by ASC 825. See Note 2, "Summary of Significant Accounting Policies," to the consolidated financial statements included in our 2025 Form 10-K, and Note 4, "Fair Value of Financial Assets and Liabilities," to the accompanying condensed consolidated financial statements included in this Form 10-Q for further discussion.</span></div> 250000000 3 150000000 4 200000000 250000000 0.0625 0.60 1 0.80 0.35 1 1.65 1.95 1.60 0.90 1.80 0.90 0.50 1.95 0.50 2.10 2.25 1.40 0.50 1.65 0.50 1.75 1.20 1.35 P18M 1.50 P18M 1.75 P18M 1.95 0.50 2.10 2.25 1.20 1.35 1.75 0.50 1.65 250000000 Shareholders' Equity <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Changes in shareholders’ equity for the three and six months ended June 30, 2026 and 2025 were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:34.393%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.063%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Common Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Amount</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Additional Paid-in Capital</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Deficit</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Other Comprehensive Income (Loss)</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total Shareholders' Equity (Deficit)</span></div></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of December 31, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132,775,113 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,934,276 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">193,984 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,084,536)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,348 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,072 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,532)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,532)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares, net of offering costs</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,164,940 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178,884 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178,884 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares as payment under license and other agreements</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76,383 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">858 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">858 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490,054 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,890 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18,912)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,286 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,286 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of March 31, 2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150,506,490 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,132,908 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203,358 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,215,068)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,302 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129,500 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(137,311)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(137,311)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan and 2022 Employee Share Purchase Plan</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">511,041 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,953 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,157)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,796 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,164 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,164 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,927)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,927)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Balances as of June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">151,017,531 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,138,861 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">220,365 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,352,379)</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,375 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,222 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:34.393%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.063%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Common Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Amount</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Additional Paid-in Capital</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Deficit</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Other Comprehensive Income (Loss)</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total Shareholders' Equity</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of December 31, 2024</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,221,989 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,656,702 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112,369 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,345,714)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">423,436 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(221,677)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(221,677)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares as payment under license and other agreements</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354,819 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,398 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,554)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,844 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">527,216 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,246 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,410)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(164)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,062 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,062 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of March 31, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102,104,024 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,689,346 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137,467 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,567,391)</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259,495 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198,147)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198,147)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares as payment under license and other agreements</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,588,688 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51,426 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51,426 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan and 2022 Employee Share Purchase Plan</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89,735 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,337 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,260)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,077 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,812 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,812 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of June 30, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105,782,447 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,743,109 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">157,019 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,765,538)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134,587 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Equity Distribution Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In October 2023, the Company entered into an equity distribution agreement (the "Equity Distribution Agreement") contemplating the offer and sale of common shares having an aggregate offering price of up to $150,000 from time to time through or to the sales agent, acting as its agent or principal. The sales agent is not required to sell any specific amount of securities but will act as the Company's sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between the sales agent and the Company. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In August 2024, the Company entered into an amendment to the Equity Distribution Agreement contemplating the offer and sale of common shares having an aggregate offering price of up to $450,000 from time to time through or to the sales agent, acting as its agent or principal. Sales of the Company's common shares, if any, will be made in sales deemed to be “at-the-market offerings”. The net proceeds from any at-the-market offerings of Company common shares are to be used for general corporate purposes. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In May 2026, the Company entered into a second amendment to the Equity Distribution Agreement contemplating the offer and sale of common shares having an aggregate offering price of up to $682,000 from time to time through or to the sales agent, acting as its agent or principal. Sales of the Company's common shares, if any, will be made in sales deemed to be “at-the-market offerings”. The net proceeds from any at-the-market offerings of Company common shares are to be used for general corporate purposes. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">During 2026, the Company sold and issued 17,164,940 common shares under the Equity Distribution Agreement, as amended, for net proceeds of approximately $178,884, all in the first quarter of 2026. In total, as of June 30, 2026, the Company has sold and issued 21,413,528 common shares under the Equity Distribution Agreement, as amended, for net proceeds of approximately $325,134. As of June 30, 2026, additional common shares having an aggregate offering price of up to approximately $350,000 remain available to be issued.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Maskbegone Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In January 2026, the Company and Maskbegone LLC ("Maskbegone") entered into a development and license agreement (the "Maskbegone Agreement"), pursuant to which Biohaven obtained the exclusive rights to develop and commercialize certain products developed under the Maskbegone Agreement related to the use of oxytocin and </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">derivatives of oxytocin in the treatment of tinnitus. As consideration under the Maskbegone Agreement, the Company paid an upfront payment of 76,383 common shares valued at approximately $858, which were issued and recognized in R&amp;D expense during the first quarter of 2026.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Maskbegone is eligible to receive up to 381,912 additional common shares of the Company under the Maskbegone Agreement which are contingent on the achievement of certain success-based developmental and regulatory milestones. The Company has not recorded these potential contingent consideration payments as liabilities in the accompanying condensed consolidated balance sheet as none of the future events which would trigger a milestone payment were considered probable of occurring at June 30, 2026.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Knopp Amendment</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In May 2024, the Company entered into an amendment to the Purchase Agreement (as defined in Note 11, "License, Acquisitions and Other Agreements") (the "Knopp Amendment") under which the parties thereto agreed to revise the success-based payment and royalty payment obligations under the Knopp Agreement. In June 2025, as partial share consideration, the Company issued 3,588,688 Company common shares to Knopp, valued at approximately $51,426.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Merus Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In January 2025, the Company entered into a research, co-development and collaboration agreement (the "Merus Agreement") with Merus N.V. ("Merus") to co-develop three novel dual-targeting antibody drug conjugates ("ADCs"), leveraging Merus’ Biclonics® technology platform, and Biohaven's next-generation ADC conjugation and payload platform technologies. As consideration under the Merus Agreement, the Company paid an upfront payment of 132,700 common shares valued at approximately $4,844 as of the effective date, which were issued in February 2025. The upfront payment was recognized as R&amp;D expense in the first quarter of 2025. In January 2026, the Company received notice from Merus that the development programs for the three ADCs were being terminated subsequent to the acquisition of Merus by Genmab A/S.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">FGFR3 Agreement </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In December 2024, the Company, GeneQuantum Healthcare (Suzhou) Co. Ltd. ("GeneQuantum") and Aimed Bio, Inc. ("Aimed Bio") entered into a development and license agreement (the "FGFR3 Agreement") pursuant to which Biohaven obtained the exclusive rights to develop and commercialize GeneQuantum's and Aimed Bio's joint research fibroblast growth factor receptor 3 ("FGFR3") ADC program. As consideration under the FGFR3 Agreement, the Company paid an upfront payment of 222,119 common shares valued at approximately $8,554 as of the effective date, which was recognized as R&amp;D expense in the fourth quarter of 2024 and the obligation to issue common shares was recorded to additional paid in capital on the condensed consolidated balance sheet. The shares were issued in January 2025.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Changes in shareholders’ equity for the three and six months ended June 30, 2026 and 2025 were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:34.393%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.063%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Common Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Amount</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Additional Paid-in Capital</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Deficit</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Other Comprehensive Income (Loss)</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total Shareholders' Equity (Deficit)</span></div></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of December 31, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132,775,113 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,934,276 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">193,984 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,084,536)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,348 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,072 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,532)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,532)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares, net of offering costs</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,164,940 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178,884 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178,884 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares as payment under license and other agreements</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76,383 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">858 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">858 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">490,054 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,890 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18,912)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,286 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,286 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of March 31, 2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150,506,490 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,132,908 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203,358 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,215,068)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,302 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129,500 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(137,311)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(137,311)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan and 2022 Employee Share Purchase Plan</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">511,041 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,953 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,157)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,796 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,164 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,164 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,927)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,927)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Balances as of June 30, 2026</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">151,017,531 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,138,861 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">220,365 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,352,379)</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,375 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,222 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:34.393%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.062%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.063%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Common Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Amount</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Additional Paid-in Capital</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Deficit</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated Other Comprehensive Income (Loss)</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total Shareholders' Equity</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of December 31, 2024</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,221,989 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,656,702 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112,369 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,345,714)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">423,436 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(221,677)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(221,677)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares as payment under license and other agreements</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354,819 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,398 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,554)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,844 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">527,216 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,246 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,410)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(164)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,062 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,062 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of March 31, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102,104,024 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,689,346 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137,467 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,567,391)</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259,495 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198,147)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198,147)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares as payment under license and other agreements</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,588,688 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51,426 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51,426 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of common shares under 2022 Equity Incentive Plan and 2022 Employee Share Purchase Plan</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89,735 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,337 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,260)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,077 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,812 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,812 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other comprehensive loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balances as of June 30, 2025</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105,782,447 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,743,109 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">157,019 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,765,538)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134,587 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 132775113 1934276000 193984000 -2084536000 8348000 52072000 -130532000 -130532000 17164940 178884000 178884000 76383 858000 858000 490054 18890000 -18912000 -22000 28286000 28286000 -46000 -46000 150506490 2132908000 203358000 -2215068000 8302000 129500000 -137311000 -137311000 511041 5953000 -2157000 3796000 19164000 19164000 -2927000 -2927000 151017531 2138861000 220365000 -2352379000 5375000 12222000 101221989 1656702000 112369000 -1345714000 79000 423436000 -221677000 -221677000 354819 13398000 -8554000 4844000 527216 19246000 -19410000 -164000 53062000 53062000 -6000 -6000 102104024 1689346000 137467000 -1567391000 73000 259495000 -198147000 -198147000 3588688 51426000 51426000 89735 2337000 -1260000 1077000 20812000 20812000 -76000 -76000 105782447 1743109000 157019000 -1765538000 -3000 134587000 150000000 450000000 682000000 17164940 178884000 21413528 325134000 350000000 76383 858000 381912 3588688 51426000 132700 4844000 222119 8554000 Accumulated Other Comprehensive Income (Loss)<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Shareholders’ equity included the following activity in accumulated other comprehensive income for the three and six months ended June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.438%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30, 2026</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Net unrealized investment (losses) gains:</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">60 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive income (loss)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(61)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Foreign currency translation adjustments:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive income</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%"> Instrument-specific credit risk of liabilities measured at fair value:</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,280 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,280 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive loss</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,931)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,931)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,349 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,349 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total beginning of period accumulated other comprehensive income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,302 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,348 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total other comprehensive loss</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,927)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,973)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total end of period accumulated other comprehensive income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,375 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,375 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:8pt;padding-left:9pt;text-indent:-9pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> There was no tax on other comprehensive income (loss) and no amounts reclassified from accumulated other comprehensive income (loss) during the period.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Shareholders’ equity included the following activity in accumulated other comprehensive income (loss) for the three and six months ended June 30, 2025:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.438%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30, 2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30, 2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Net unrealized investment (losses) gains:</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">40 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">69 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive loss</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(59)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(88)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Foreign currency translation adjustments:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">33 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive (loss) income</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total beginning of period accumulated other comprehensive income</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">73 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">79 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total other comprehensive loss</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(76)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(82)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total end of period accumulated other comprehensive loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:8pt;padding-left:9pt;text-indent:-9pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> There was no tax on other comprehensive income (loss) and no amounts reclassified from accumulated other comprehensive income (loss) during the period.</span></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Shareholders’ equity included the following activity in accumulated other comprehensive income for the three and six months ended June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.438%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30, 2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30, 2026</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Net unrealized investment (losses) gains:</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">60 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive income (loss)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(61)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Foreign currency translation adjustments:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive income</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%"> Instrument-specific credit risk of liabilities measured at fair value:</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,280 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,280 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive loss</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,931)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,931)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,349 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,349 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total beginning of period accumulated other comprehensive income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,302 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,348 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total other comprehensive loss</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,927)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,973)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total end of period accumulated other comprehensive income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,375 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,375 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:8pt;padding-left:9pt;text-indent:-9pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> There was no tax on other comprehensive income (loss) and no amounts reclassified from accumulated other comprehensive income (loss) during the period.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Shareholders’ equity included the following activity in accumulated other comprehensive income (loss) for the three and six months ended June 30, 2025:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.438%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.475%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30, 2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30, 2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Net unrealized investment (losses) gains:</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">40 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">69 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive loss</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(59)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(88)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Foreign currency translation adjustments:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Beginning of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">33 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other comprehensive (loss) income</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">End of period balance</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16 </span></td><td style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total beginning of period accumulated other comprehensive income</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">73 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">79 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total other comprehensive loss</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(76)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(82)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total end of period accumulated other comprehensive loss</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:8pt;padding-left:9pt;text-indent:-9pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> There was no tax on other comprehensive income (loss) and no amounts reclassified from accumulated other comprehensive income (loss) during the period.</span></div> -2000 60000 1000 -61000 -1000 -1000 24000 8000 3000 19000 27000 27000 8280000 8280000 -2931000 -2931000 5349000 5349000 8302000 8348000 -2927000 -2973000 5375000 5375000 0 0 0 0 40000 69000 -59000 -88000 -19000 -19000 33000 10000 -17000 6000 16000 16000 73000 79000 -76000 -82000 -3000 -3000 0 0 0 0 Non-Cash Share-Based Compensation<div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Non-Cash Share-based Compensation Expense</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company measures non-cash share-based compensation at the grant date based on the fair value of the award and recognizes non-cash shared-based compensation as expense over the requisite service period of the award (generally three years) using the straight-line method. Non-cash share-based compensation expense, consisting of expense for share options, restricted share units ("RSUs"), performance share options, and the Employee Share Purchase Plan, was classified in the condensed consolidated statements of operations and comprehensive loss as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"><br/></span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.133%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.655%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Research and development expenses</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,983 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,110 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,458 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48,344 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">General and administrative expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,181 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,702 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,992 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,530 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,164 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,812 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,450 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">73,874 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As of June 30, 2026, total unrecognized compensation cost related to the unvested share-based awards was $93,325, which is expected to be recognized over a weighted average period of 1.80 years. The Company did not recognize any material tax benefit or expense related to the exercise of share options or vesting of RSUs during the six months ended June 30, 2026 and 2025.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Share Options</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">All share option grants are awarded at fair value on the date of grant. The fair value of share options is estimated using the Black-Scholes option pricing model. Share options generally expire 10 years after the grant date.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The aggregate intrinsic value of share options is calculated as the difference between the exercise price of the share options and the fair value of the Company's common shares for those share options that had exercise prices lower than the fair value of the Company's common shares at June 30, 2026. The total intrinsic value of share options exercised during the six months ended June 30, 2026 and 2025 was $2,102 and $1,566, respectively. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The weighted average grant date fair value per share of share options granted under the Company's equity incentive plan during the six months ended June 30, 2026 and 2025 was $8.52 and $25.04, respectively. The Company expects approximately 6,428,022 of the unvested share options to vest over the requisite service period.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following table is a summary of the Company's share option activity for the six months ended June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:58.077%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.151%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.857%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.857%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Number of</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Shares</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Weighted</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Average</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Exercise</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Price</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Weighted</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Average</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Remaining</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Contractual</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Term</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Aggregate</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Intrinsic</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Value</span></div></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(in years)</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Outstanding as of December 31, 2025</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,649,514</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21.06 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Granted</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,213,525 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11.34 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Exercised</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(306,185)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.04 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Forfeited</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(181,320)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27.75 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Outstanding as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,375,534</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18.72 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.66</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">75,673 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Options exercisable as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,947,512</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17.79 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.00</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">61,344 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Vested and expected to vest as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,375,534</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18.72 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.66</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">75,673 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Restricted Share Units</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company’s RSUs are considered nonvested share awards and require no payment from the employee. For each RSU, employees receive one common share at the end of the vesting period. Compensation cost is recorded based on the market price of the Company’s common shares on the grant date and is recognized on a straight-line basis over the requisite service period.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The total fair value of RSUs vested during the six months ended June 30, 2026 and 2025 was $4,876 and $19,118, respectively.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following table is a summary of the RSU activity for the six months ended June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:71.587%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.969%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.970%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Number of shares</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Weighted Average Grant Date Fair Value</span></div></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Unvested as of December 31, 2025</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,402,696 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">38.48 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Granted</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,850 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11.02 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Vested</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(482,437)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">39.01 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Forfeited</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(36,530)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">38.97 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Unvested as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">899,579 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37.70 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> P3Y Non-cash share-based compensation expense, consisting of expense for share options, restricted share units ("RSUs"), performance share options, and the Employee Share Purchase Plan, was classified in the condensed consolidated statements of operations and comprehensive loss as follows:<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"><br/></span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.133%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.655%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Research and development expenses</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,983 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,110 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,458 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48,344 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">General and administrative expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,181 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,702 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,992 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,530 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Total non-cash share-based compensation expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,164 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,812 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">47,450 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">73,874 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 11983000 13110000 30458000 48344000 7181000 7702000 16992000 25530000 19164000 20812000 47450000 73874000 93325000 P1Y9M18D P10Y 2102000 1566000 8.52 25.04 6428022 <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following table is a summary of the Company's share option activity for the six months ended June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:58.077%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.151%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.857%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.857%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.622%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Number of</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Shares</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Weighted</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Average</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Exercise</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Price</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Weighted</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Average</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Remaining</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Contractual</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Term</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Aggregate</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Intrinsic</span></div><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Value</span></div></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(in years)</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Outstanding as of December 31, 2025</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,649,514</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21.06 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Granted</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,213,525 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11.34 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Exercised</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(306,185)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.04 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Forfeited</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(181,320)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27.75 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Outstanding as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,375,534</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18.72 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.66</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">75,673 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Options exercisable as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,947,512</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17.79 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.00</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">61,344 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Vested and expected to vest as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,375,534</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18.72 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7.66</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">75,673 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 15649514 21.06 5213525 11.34 306185 7.04 181320 27.75 20375534 18.72 P7Y7M28D 75673000 13947512 17.79 P7Y 61344000 20375534 18.72 P7Y7M28D 75673000 1 4876000 19118000 <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The following table is a summary of the RSU activity for the six months ended June 30, 2026:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:71.587%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.969%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.970%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Number of shares</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Weighted Average Grant Date Fair Value</span></div></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Unvested as of December 31, 2025</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,402,696 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">38.48 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Granted</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,850 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11.02 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Vested</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(482,437)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">39.01 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Forfeited</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(36,530)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">38.97 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Unvested as of June 30, 2026</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">899,579 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37.70 </span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 1402696 38.48 15850 11.02 482437 39.01 36530 38.97 899579 37.70 Net Loss Per Share<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Basic and diluted net loss per share attributable to common shareholders of Biohaven was calculated as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.683%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></div></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Numerator:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(137,311)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(198,147)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(267,843)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(419,824)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Denominator:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Weighted average common shares outstanding—basic and diluted</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">150,636,620 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">102,372,820 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">149,134,255 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">102,159,294 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net loss per share — basic and diluted</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.91)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1.94)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1.80)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.11)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company's potential dilutive securities include share options which have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common shareholders of the Company is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.868%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Options to purchase common shares</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,375,534 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,671,561 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Warrants to purchase common shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">294,195 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Restricted share units</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">899,579 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,397,184 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,275,113 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17,362,940 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Basic and diluted net loss per share attributable to common shareholders of Biohaven was calculated as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.683%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%"> </span></div></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Numerator:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(137,311)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(198,147)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(267,843)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(419,824)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Denominator:</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 13pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Weighted average common shares outstanding—basic and diluted</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">150,636,620 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">102,372,820 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">149,134,255 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">102,159,294 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net loss per share — basic and diluted</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(0.91)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1.94)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1.80)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4.11)</span></td><td style="background-color:#dbe9cd;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> -137311000 -198147000 -267843000 -419824000 150636620 150636620 102372820 102372820 149134255 149134255 102159294 102159294 -0.91 -0.91 -1.94 -1.94 -1.80 -1.80 -4.11 -4.11 The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:<div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:75.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.868%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">As of June 30,</span></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Options to purchase common shares</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,375,534 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,671,561 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Warrants to purchase common shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">294,195 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Restricted share units</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">899,579 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,397,184 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,275,113 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17,362,940 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 20375534 15671561 0 294195 899579 1397184 21275113 17362940 License, Acquisitions and Other Agreements <div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company has entered into various licensing, developmental and acquisition agreements which provide the Company with rights to certain know-how, technology and patent rights. The agreements generally include upfront fees, milestone payments upon achievement of certain developmental, regulatory and commercial and sales milestones, as well as sales-based royalties, with percentages that vary by agreement.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">License and Other Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As of June 30, 2026, the Company had potential future developmental, regulatory and commercial milestone payments under its license and other agreements of up to approximately $139,313, $711,600, and $3,187,488, respectively. See below for a detailed discussion of these agreements. The Company has not recorded these potential contingent consideration payments as liabilities in the accompanying condensed consolidated balance sheet as none of the future events which would trigger a milestone payment were considered probable of occurring at June 30, 2026.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Yale Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In September 2013, the Company entered into an exclusive license agreement (the "Yale Agreement") with Yale University ("Yale") to obtain a license to certain patent rights for the commercial development, manufacture, distribution, use and sale of products and processes resulting from the development of those patent rights, related to the use of riluzole in treating various neurological conditions, such as general anxiety disorder, post-traumatic stress disorder and depression.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Yale Agreement was amended and restated in May 2019. As of June 30, 2026, under the amended Yale Agreement, the Company had remaining contingent regulatory approval milestone payments of up to $2,000 and annual royalty payments of a low single-digit percentage based on net sales of riluzole-based products from the licensed patents </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">or from products based on troriluzole. Under the amended and restated agreement, the royalty rates are reduced as compared to the original agreement. In addition, under the amended and restated agreement, the Company may develop products based on riluzole or troriluzole. The amended and restated agreement retains a minimum annual royalty of up to $1,000 per year, beginning after the first sale of product under the agreement. If the Company grants any sublicense rights under the Yale Agreement, it must pay Yale University a low single-digit percentage of sublicense income that it receives.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2026 and 2025, the Company did not record any material milestone or royalty payments under the Yale Agreement.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In January 2021, the Company entered into a worldwide, exclusive license agreement with Yale University for the development and commercialization of a novel Molecular Degrader of Extracellular Protein ("MoDE") platform (the "Yale MoDE Agreement"). The platform pertains to the clearance of disease-causing protein and other biomolecules by targeting them for lysosomal degradation using multi-functional molecules. The Yale MoDE Agreement includes an obligation to pay a minimum annual royalty of up to $1,000 per year, and low single digit royalties on the net sales of licensed products. If the Company grants any sublicense rights under the Yale MoDE Agreement, it must pay Yale University a low single-digit percentage of sublicense income that it receives. As of June 30, 2026, under the Yale MoDE Agreement, the Company had remaining contingent development and commercial milestone payments of up to $1,063 and $4,988, respectively. The Yale MoDE Agreement terminates on the later of twenty years from the effective date, twenty years from the filing date of the first investigational new drug application for a licensed product or the last to expire valid claim of a licensed patent. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">During the three months ended June 30, 2026, the Company recorded R&amp;D expense of $250 for a development milestone which the Company determined to have become probable during the period under the Yale MoDE Agreement. The development milestone is expected to be paid during the third quarter of 2026 and was recorded within accrued expenses on the condensed consolidated balance sheet as of June 30, 2026. Excluding this $250 development milestone, for the three and six months ended June 30, 2026 and 2025, the Company did not record any material milestone or royalty payments under the Yale MoDE Agreement. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">ALS Biopharma Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In August 2015, the Company entered into an agreement (the "ALS Biopharma Agreement") with ALS Biopharma and Fox Chase Chemical Diversity Center Inc. ("FCCDC"), pursuant to which ALS Biopharma and FCCDC assigned the Company their worldwide patent rights to a family of over 300 prodrugs of glutamate modulating agents, including troriluzole, as well as other innovative technologies. Under the ALS Biopharma Agreement, the Company is obligated to use commercially reasonable efforts to commercialize and develop markets for the patent products. As of June 30, 2026, under the ALS Biopharma Agreement, the Company had remaining contingent regulatory approval milestone payments of up to $4,000, as well as royalty payments of a low single-digit percentage based on net sales of products licensed under the ALS Biopharma Agreement, payable on a quarterly basis.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The ALS Biopharma Agreement terminates on a country-by-country basis as the last patent rights expire in each such country. If the Company abandons its development, research, licensing or sale of all products covered by one or more claims of any patent or patent application assigned under the ALS Biopharma Agreement, or if the Company ceases operations, it has agreed to reassign the applicable patent rights back to ALS Biopharma.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2026 and 2025, the Company did not record any material milestone or royalty payments under the ALS Biopharma Agreement.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Taldefgrobep Alfa License Agreement</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In February 2022, following the transfer of intellectual property, the Company announced that it entered into a worldwide license agreement with Bristol Myers Squibb ("BMS") for the development and commercialization rights to taldefgrobep alfa (also known as BMS-986089), a novel, Phase 3-ready anti-myostatin adnectin (the "Taldefgrobep Alfa License Agreement"). </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As of June 30, 2026, under the Taldefgrobep Alfa License Agreement, the Company had remaining contingent regulatory approval milestone payments of up to $200,000, as well as tiered, sales-based royalty percentages from the </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">high teens to the low twenties. There were no upfront or contingent payments to BMS related to the Taldefgrobep Alfa License Agreement. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2026 and 2025, the Company did not record any material milestone or royalty payments under the Taldefgrobep Alfa License Agreement.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Agreement with Hangzhou Highlightll Pharmaceutical Co. Ltd. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In March 2023, the Company and Hangzhou Highlightll Pharmaceutical Co. Ltd. ("Highlightll") entered into an exclusive, worldwide (excluding People’s Republic of China and its territories and possessions) license agreement (the "Highlightll Agreement") pursuant to which Biohaven obtained the right to research, develop, manufacture and commercialize Highlightll’s brain penetrant dual Tyrosine Kinase 2/Janus Kinase 1 ("TYK2/JAK1") inhibitor program.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As of June 30, 2026, under the Highlightll Agreement, the Company had remaining contingent development, regulatory approval, and commercial milestone payments of up to $60,000, $37,500, and $837,500, respectively. Additionally, the Company has agreed to make tiered royalty payments as a percentage of net sales starting at mid-single digits and peaking at low teens digits. During the royalty term, if the Company offers to include China clinical sites in its Phase 3 study sufficient for submission to Chinese National Medical Products Administration and Highlightll, at its sole discretion, agrees, then Highlightll will pay royalties in the low tens digits to the Company on China sales upon approval.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Highlightll Agreement terminates on a country-by-country basis upon expiration of the royalty term and can also be terminated if certain events occur, such as material breach or insolvency.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In July 2025, the Highlightll Agreement was amended to permit the Company to conduct clinical trials for BHV-8000 in China and its territories and possessions (the "Highlightll Territory") and seek marketing authorization in the Highlightll Territory. Any marketing authorizations obtained by the Company for BHV-8000 in the Highlightll Territory would be transferred to Highlightll for commercialization, and Highlightll would pay royalties to the Company as noted above. In addition, the amendment provides for a low single digit reduction in the royalties payable by the Company to Highlightll.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2026, the Company did not record any material milestone or royalty payments related to the Highlightll Agreement. During the three months ended June 30, 2025, the Company recorded R&amp;D expense of $15,000 for a development milestone which the Company determined to have become probable during the period. The developmental milestone was paid during the third quarter of 2025. Excluding this $15,000 development milestone, for the three and six months ended June 30, 2025, the Company did not record any material milestone or royalty payments related to the Highlightll Agreement.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Other Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In addition to the agreements detailed above, the Company has entered into various other license agreements and development programs. The Company records milestones and other payments, including funding for research arrangements, which become due under these agreements to research and development expense in the condensed consolidated statements of operations and comprehensive loss. Amounts recorded for the period were as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.408%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.872%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></div></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Milestone payments</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,000 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,000 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Upfront Payments - Cash*</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,000 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Upfront Payments - Issuance of Common Shares</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">858 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,884 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%">*The amount for the six months ended June 30, 2025 includes $2,500 recorded to research and development expense related to cash owed for upfront payments which were not yet paid as of June 30, 2025 and was recorded within accrued expenses and other current liabilities on the condensed consolidated balance sheet as of June 30, 2025.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Acquisitions</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Kv7 Platform Acquisition</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In April 2022, the Company closed the acquisition from Knopp Biosciences LLC ("Knopp") of Channel Biosciences, LLC (“Channel”), a wholly owned subsidiary of Knopp owning the assets of Knopp’s Kv7 channel targeting platform (the “Kv7 Platform Acquisition”), pursuant to the Membership Interest Purchase Agreement, dated February 24, 2022 (the "Purchase Agreement"). </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Under the Purchase Agreement, the Company agreed to make success-based payments based on developmental and regulatory milestones through approvals in the United States, Europe, the Middle East and Asia ("EMEA") and Japan for the lead asset, opakalim (formerly known as KB-3061 and also referred to as BHV-7000), developmental and regulatory milestones for the Kv7 pipeline development in other indications and additional country approvals, and commercial sales-based milestones of opakalim. Additionally, the Company agreed to make scaled royalty payments in cash for opakalim and the pipeline programs, with percentages starting at high single digits and peaking at low teens for opakalim and starting at mid-single digits and peaking at low tens digits for the pipeline programs.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In May 2024, the Company entered into the Knopp Amendment under which the parties thereto agreed to replace the scaled high single digit to low teens royalty payment obligations with a flat royalty payment in the mid-single digits for opakalim and the pipeline programs. The parties also agreed to reduce the success-based payments payable under the Purchase Agreement. The Company retains the ability to pay these contingent milestone payments in cash or in the Company's common shares at Biohaven's election, subject to the same increases if the Company elects to pay in the Company's common shares. As of June 30, 2026, under the Purchase Agreement, as amended, the Company had remaining success-based payments comprised of (i) up to $185,000 based on regulatory approvals in the United States and EMEA for opakalim and (ii) up to an additional $60,000 based on regulatory approval in the United States for the other Kv7 pipeline programs. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:14.4pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In consideration of the revisions to the success-based payment and royalty payment obligations, the Company agreed to issue to Knopp 1,872,874 Company common shares, valued at approximately $75,000, through a private placement within 60 days of the date of execution of the Knopp Amendment (the “2024 Additional Consideration”) and additional Company common shares with an approximate value of $75,000 within 60 days of the first anniversary of execution of the Knopp Amendment (the “2025 Additional Consideration”). On May 1, 2025, the total number of common shares to be issued for the 2025 Additional Consideration was determined to be 3,588,688. The Company also gave Knopp the option to request a one-time cash true-up payment from the Company in December 2024 in the event that Knopp continued to hold the Company's common shares representing the 2024 Additional Consideration and the value of such shares had declined (the "2024 Additional Consideration True-Up"), and a one-time cash true-up payment from the Company in December 2025 in the event that Knopp continued to hold the Company's common shares representing the 2025 Additional Consideration and the value of such shares had declined (the "2025 Additional Consideration True-Up"), in each case, subject to certain conditions. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company concluded that the agreement to issue the 2024 Additional Consideration at a future date represented a fixed forward contract under ASC 815, Derivatives and Hedging ("ASC 815"), and classified the commitment as a forward contract liability on its condensed consolidated balance sheet on the execution date of the Knopp Amendment. The Company initially measured the forward contract associated with the 2024 Additional Consideration at a fair value of $75,220, which was recorded as R&amp;D expense during the three months ended June 30, 2024 in its condensed consolidated statements of operations and comprehensive loss. In May 2024, the Company issued the 2024 Additional Consideration at an approximate value of $65,981 and recognized a gain of $9,239 in other (expense) income, net in its condensed consolidated statement of operations and comprehensive loss. The gain on settlement of the 2024 Additional Consideration was due to the decline in fair value of the 2024 Additional Consideration from the execution date to the issuance date due to a decline in Biohaven's share price.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company concluded that the 2024 Additional Consideration True-Up represented a net cash settled written put option on the Company’s shares and was a freestanding derivative liability under ASC 815. Accordingly, the Company classified the 2024 Additional Consideration True-Up as a current derivative liability on its condensed consolidated balance sheet. The Company initially recorded the 2024 Additional Consideration True-Up at a fair value of $15,540, which was recorded as R&amp;D expense during the three months ended June 30, 2024 in its condensed consolidated statements of </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">operations and comprehensive loss. The Company subsequently remeasured the fair value of the derivative liability and recognized gains or losses through other (expense) income, net in its condensed consolidated statement of operations and comprehensive loss. The 2024 Additional Consideration True-Up was settled in December 2024, with no cash payment due upon expiration.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company concluded that the agreement to issue the 2025 Additional Consideration at a future date represented a forward contract settleable in a variable number of shares under ASC 480, Distinguishing Liabilities from Equity, and classified the commitment as a current forward contract liability on its condensed consolidated balance sheet. The Company initially measured the 2025 Additional Consideration at a fair value of $63,940, which was recorded as R&amp;D expense during the three months ended June 30, 2024 in its condensed consolidated statement of operations and comprehensive loss. The Company subsequently remeasured the fair value of the forward contract liability and recognized gains or losses through other (expense) income, net in its condensed consolidated statement of operations and comprehensive loss. In June 2025, the Company issued the 2025 Additional Consideration at an approximate value of $51,426. The Company recognized gains of $21,894 and $20,074 for the three and six months ended June 30, 2025, respectively, related to the 2025 Additional Consideration. The gain on settlement of the 2025 Additional Consideration was due to the decline in fair value of the 2025 Additional Consideration from the one year anniversary of the execution date to the issuance date due to a decline in Biohaven's share price. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company concluded that the 2025 Additional Consideration True-Up represented a net cash settled written put option on the Company’s shares and was a freestanding derivative liability under ASC 815. Accordingly, the Company classified the 2025 Additional Consideration True-Up as a non-current derivative liability on its condensed consolidated balance sheet. The Company initially recorded the 2025 Additional Consideration True-Up at a fair value of $13,810, which was recorded as R&amp;D expense during the three months ended June 30, 2024. The Company subsequently remeasured the fair value of the derivative liability and recognized gains or losses through other (expense) income, net in its condensed consolidated statement of operations and comprehensive loss. The Company recognized losses of $10,970 and $12,760 for the three and six months ended June 30, 2025, respectively, related to the 2025 Additional Consideration True-Up. The 2025 Additional Consideration True-Up was settled in December 2025, and a cash payment of $42,710 was owed to Knopp as of December 31, 2025. The cash payment due to Knopp was recorded within accrued expenses and other current liabilities on the condensed consolidated balance sheet as of December 31, 2025 and was made to Knopp in the first quarter of 2026. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:22.5pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As further consideration for the revisions to the success-based payment and royalty payment obligations in the Knopp Amendment, the Company issued to Knopp a warrant (the “Warrant”) to purchase 294,195 Company common shares at a purchase price per share of $67.98, subject to certain specified development milestones and the Company achieving a specified market capitalization. The Warrant was recorded at its initial fair value of $3,340 within additional paid-in capital on the condensed consolidated balance sheet during the second quarter of 2024 and is not subject to remeasurement. In December 2025, Knopp elected to surrender the Warrant to the Company for cancellation.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company has not recorded any of the remaining contingent consideration payments to Knopp as a liability in the accompanying condensed consolidated balance sheet as none of the future events which would trigger a milestone payment were considered probable of occurring at June 30, 2026.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Pyramid Acquisition</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In January 2024, the Company acquired Pyramid Biosciences, Inc. ("Pyramid"), pursuant to an Agreement and Plan of Merger, dated January 7, 2024 (the "Pyramid Agreement"). In consideration for the Pyramid acquisition, Biohaven made an upfront payment of 255,794 Company common shares, valued at approximately $10,894.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company accounted for this purchase as an asset acquisition as substantially all of the fair value of the gross assets acquired was concentrated in a single identifiable asset, In Process Research and Development ("IPR&amp;D"). The IPR&amp;D asset has no alternative future use and relates primarily to BHV-1510. There was no material value assigned to any other assets or liabilities acquired in the acquisition. As such, the upfront payment discussed above was recorded as a charge to R&amp;D expense in the accompanying condensed consolidated statement of operations and comprehensive loss during the three months ended March 31, 2024.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:14.4pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">As of June 30, 2026, under the Pyramid Agreement, the Company had remaining success-based payments comprised of (i) up to $5,000 based on developmental and regulatory milestones for the lead asset, BHV-1510 (formerly known as </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">PBI-410), (ii) up to an additional $30,000 based on developmental and regulatory milestones for a second asset (formerly known as PBI-200) and (iii) up to $40,000 for commercial sales-based milestones of BHV-1510. Contingent developmental and regulatory milestone payments may be paid in cash or Biohaven common shares at the election of Biohaven, and commercial sales-based milestones are to be made in cash. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company has not recorded any of the remaining contingent consideration payments as a liability in the accompanying condensed consolidated balance sheet as none of the future events which would trigger a milestone payment were considered probable of occurring at June 30, 2026.</span></div>For the three and six months ended June 30, 2026 and 2025, the Company did not record any material milestone payments related to the Pyramid Agreement. 139313000 711600000 3187488000 2000000 1000000 0 0 0 0 1000000 1063000 4988000 P20Y P20Y 250000 250000 0 0 300 4000000 1 0 0 0 0 200000000 0 0 0 0 60000000 37500000 837500000 0 0 15000000 15000000 Amounts recorded for the period were as follows:<div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.408%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.872%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></div></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></div></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Milestone payments</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,000 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,000 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Upfront Payments - Cash*</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,000 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Upfront Payments - Issuance of Common Shares</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">858 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,884 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%">*The amount for the six months ended June 30, 2025 includes $2,500 recorded to research and development expense related to cash owed for upfront payments which were not yet paid as of June 30, 2025 and was recorded within accrued expenses and other current liabilities on the condensed consolidated balance sheet as of June 30, 2025.</span></div> 0 10000000 0 10000000 0 0 0 5000000 0 0 858000 4884000 2500000 185000000 60000000 1872874 75000000 P60D 75000000 P60D 3588688 75220000 65981000 9239000 15540000 63940000 51426000 21894000 20074000 13810000 -10970000 -12760000 42710000 294195 67.98 3340000 255794000 10894000 5000000 30000000 40000000 0 0 0 0 Commitments and Contingencies <div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Lease Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company's leases primarily consist of lab and office space for use in its operations. Other than the Cambridge Lease Amendment defined and described below, there have been no material changes to the lease obligations from those disclosed in Note 12, "Commitments and Contingencies" to the consolidated financial statements included in the 2025 Form 10-K.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Cambridge Lease Amendment</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In April 2026, the Company entered into an amendment to its existing agreement for office and laboratory space in Cambridge, Massachusetts (the "Cambridge Lease Amendment"). The amendment, which became effective during the second quarter of 2026, reduced the leased space by 2,858 square feet and reduced the existing base rent by approximately $400 to a base annual rent of $3,205, subject to annual 3% escalations. The amendment resulted in a decrease in the operating lease right-of-use asset of $4,951 and decrease in the operating lease liability of $5,106 and a non-cash gain of $155 recognized in earnings. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Research Commitments</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company has entered into agreements with several contract manufacturing organizations ("CMOs") and contract research organizations ("CROs") to provide products and services in connection with the Company’s preclinical studies and clinical trials. As of June 30, 2026, the Company had no research commitments in excess of one year.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Indemnification Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. The Company’s amended and restated memorandum and articles of association also provide for indemnification of directors and officers in specific circumstances. To date, the Company has not incurred any material costs as a result of such indemnification provisions. The Company does not believe that the outcome of any claims under indemnification arrangements will have a material effect on its financial position, results of operations or cash flows, and it has not accrued any liabilities related to such obligations in its condensed consolidated financial statements as of June 30, 2026 or December 31, 2025.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">License, Acquisitions, and Other Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company has entered into license, developmental, and acquisition agreements with various parties under which it is obligated to make contingent and non-contingent payments. See Note 11, "License, Acquisitions and Other Agreements," for additional details.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Other Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On January 1, 2021, the Company entered into a consulting services agreement (the "Moda Agreement") with Moda Pharmaceuticals LLC ("Moda") to further the scientific advancement of technology, drug discovery platforms (including the technology licensed under the Yale MoDE Agreement), product candidates and related intellectual property owned or controlled by the Company.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">Under the Moda Agreement, the Company agreed to make success-based payments based on developmental, regulatory, and commercial milestones. The Moda Agreement may be terminated by the Company or Moda under certain circumstances including, for example, the Company's discontinuation of research on the MoDE platform or default. In August 2023, the Company entered into an amendment to the Moda Agreement with Moda. As of June 30, 2026, under the Moda Agreement, as amended, the Company had remaining contingent development, regulatory approval, and commercial milestone payments of up to $27,995, $22,000, and $104,612, respectively.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> During the three months ended June 30, 2026, the Company recorded R&amp;D expense of $3,250 for development milestones which the Company determined to have become probable during the period under the Moda Agreement. The development milestones are expected to be paid during the third quarter of 2026 and were recorded within accrued development milestones expenses on the condensed consolidated balance sheet as of June 30, 2026. Excluding these development milestones of $3,250, for the three and six months ended June 30, 2026 and 2025, the Company did not record any material milestone payments under the Moda Agreement. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Legal Proceedings</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">From time to time, in the ordinary course of business, the Company is subject to litigation and regulatory examinations as well as information gathering requests, inquiries and investigations. In accordance with ASC 450, Contingencies, if a loss contingency associated with a legal matter is probable to be incurred and the amount of loss can be reasonably estimated, an accrual is recorded on the condensed consolidated balance sheet. As of June 30, 2026, excluding the below, there were no matters which would have a material impact on the Company’s financial results.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Trade Secret Litigation</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In March 2023, the Company and Yale University filed suit in the U.S. District Court for the District of Delaware against Avilar Therapeutics, Inc. and RA Capital Management GP, LLC, asserting claims for trade secret misappropriation relating to the licensed technology underlying certain of the Company's extracellular protein degradation programs and, as to Yale, breach of a confidentiality agreement. On July 24, 2026, following a jury trial that commenced on July 20, 2026, the jury returned a verdict in favor of the plaintiffs and awarded combined damages of approximately $4,000, of which approximately $1,000 was awarded to the Company. The verdict remains subject to post-trial motions, the entry of final judgment, and potential appeal. The Company cannot predict the timing or ultimate outcome of any post-trial proceedings or the amount, if any, that ultimately may be collected.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Shareholder Complaint</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On July 14, 2025, a lawsuit was filed in the United States District Court for the District of Connecticut against Biohaven Ltd. and certain of its officers alleging federal securities law violations. In an amended complaint filed on March 16, 2026, plaintiffs allege claims on behalf of a putative class of purchasers of Biohaven stock between March 24, 2023 and January 5, 2026, contending that Biohaven and the officer defendants violated Section 10(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-5 based on alleged misstatements or omissions in certain Biohaven press releases and SEC filings concerning, among other things, (i) the outlook for and clinical data supporting troriluzole as a treatment for spinocerebellar ataxia ("SCA") and (ii) opakalim’s efficacy and clinical prospects as a treatment for bipolar disorder. Plaintiffs also claim the individual defendants are liable for the alleged securities violations through derivative “control person” claims under Section 20(a) of the Exchange Act. The Company believes that the claims are without merit and filed a motion to dismiss on May 18, 2026.</span></div> 2858 -400000 3205000 0.03 -4951000 -5106000 155000 0 27995000 22000000 104612000 3250000 3250000 4000000 1000000 Related Party Transactions<div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:700;line-height:120%">Related Party Agreements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:21.6pt"><span style="color:#58bd2b;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">License Agreement with Yale University</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">On September 30, 2013, the Company entered into the Yale Agreement with Yale University (see Note 11, "License, Acquisitions and Other Agreements"). The Company’s Chief Executive Officer ("CEO") is one of the inventors of the patents that the Company has licensed from Yale University and, as such, is entitled to a specified share of the glutamate product-related royalty revenues that may be received by Yale University under the Yale Agreement. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">In January 2021, the Company entered into the Yale MoDE Agreement with Yale University (see Note 11, "License, Acquisitions and Other Agreements," for details). Under the license agreement, the Company acquired exclusive, worldwide rights to Yale University's intellectual property directed to its MoDE platform. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">For the three and six months ended June 30, 2026, the Company recorded $716 and $1,491, respectively, in R&amp;D expense, including certain administrative expenses, related to the Yale MoDE Agreement and the Yale Agreement (collectively, the "Yale Agreements"). For the three and six months ended June 30, 2025, the Company recorded $330 and $851, respectively, in R&amp;D expense, including certain administrative expenses, related to the Yale Agreements. As of June 30, 2026, the Company did not owe any amounts to Yale University.</span></div> 716000 1491000 330000 851000 0 Segment Information<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The Company manages its operations as a single segment focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, obesity, neuroscience, and oncology. Biohaven's CEO, as the Company's chief operating decision maker, manages and allocates resources at a consolidated level. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">The CEO uses net loss that is also reported on the condensed consolidated statement of operations as net loss to assess performance and decide how to allocate resources. The measure of segment assets is reported on the condensed consolidated balance sheet as total consolidated assets. Expenditures for the addition of long-lived assets are reported on the condensed consolidated statements of cash flows as purchases of property and equipment.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> Additional information about segment profit or loss and significant segment expenses is as follows:</span></div><div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.800%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.309%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Direct R&amp;D program expense</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-4157 (Troriluzole)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,704 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,245 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,626 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">28,033 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-2000 (Taldefgrobep Alfa)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,730 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,045 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,062 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,229 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-7000 &amp; BHV-7010 (Kv7)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,845 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31,172 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">33,578 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">62,744 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:18.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-2100 &amp; BHV-2110 (TRPM3 Antagonist)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(325)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,845 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(530)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">23,594 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-8000 (TYK2/JAK1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,142 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,216 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,312 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,589 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1300 (IgG Degrader)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,861 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,732 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,003 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,352 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1310 (IgG Degrader)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,612 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,686 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1400 (IgA Degrader)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,709 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,737 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,846 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,597 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1600 (β1-AR AAB Degrader)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(288)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,806 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(99)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,809 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:18.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1510 (TROP-2)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,465 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,384 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,502 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,873 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1530 (FGFR3)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,211 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,393 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,410 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,569 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other R&amp;D program expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,104 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">63 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,615 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Preclinical research programs R&amp;D Expense</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,730 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,398 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,279 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">41,933 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">R&amp;D personnel expense (excluding share-based compensation)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,421 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,490 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">40,433 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">41,627 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">R&amp;D Share-based compensation expense</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,983 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,110 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,458 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48,344 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">G&amp;A personnel expense (excluding share-based compensation)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,765 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,004 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,220 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,478 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">G&amp;A Share-based compensation expense</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,181 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,702 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,992 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,530 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other segment items </span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,736 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,706 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,191 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37,660 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Non-operating expense (income)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,021 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(13,815)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,853 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(14,308)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Provision for income taxes</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">391 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">261 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">663 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">870 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Segment net loss</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">137,311 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">198,147 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">267,843 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">419,824 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:100%">Reconciliation of profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Adjustments and reconciling items</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated net loss</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">137,311 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">198,147 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">267,843 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">419,824 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:400;line-height:115%">(1)    Personnel expense includes employee payroll, bonus, and employee benefits for medical care, retirement, insurances and other. </span></div><div style="margin-bottom:3pt;margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:400;line-height:115%">(2)    Other segment items included in Segment net loss include unallocated non-program R&amp;D expense, legal, accounting and other professional service fees, rent and utilities expense, depreciation, and other corporate expenses.</span></div> Additional information about segment profit or loss and significant segment expenses is as follows:<div style="margin-bottom:8pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.800%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.309%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="9" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="background-color:#002a61;padding:0 1pt"></td><td colspan="3" style="background-color:#002a61;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Direct R&amp;D program expense</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-4157 (Troriluzole)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,704 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,245 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,626 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">28,033 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-2000 (Taldefgrobep Alfa)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,730 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,045 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,062 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,229 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-7000 &amp; BHV-7010 (Kv7)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,845 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31,172 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">33,578 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">62,744 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:18.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-2100 &amp; BHV-2110 (TRPM3 Antagonist)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(325)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,845 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(530)</span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">23,594 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-8000 (TYK2/JAK1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,142 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,216 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,312 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,589 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1300 (IgG Degrader)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,861 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,732 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,003 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,352 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1310 (IgG Degrader)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,612 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,686 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1400 (IgA Degrader)</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,709 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,737 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,846 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,597 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1600 (β1-AR AAB Degrader)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(288)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,806 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(99)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,809 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:18.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1510 (TROP-2)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,465 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,384 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,502 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,873 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">BHV-1530 (FGFR3)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,211 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,393 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,410 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,569 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 19.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other R&amp;D program expense</span></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,104 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">63 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,615 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Preclinical research programs R&amp;D Expense</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,730 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,398 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,279 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">41,933 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">R&amp;D personnel expense (excluding share-based compensation)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,421 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,490 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">40,433 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">41,627 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">R&amp;D Share-based compensation expense</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,983 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,110 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,458 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">48,344 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">G&amp;A personnel expense (excluding share-based compensation)</span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,765 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,004 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,220 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,478 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">G&amp;A Share-based compensation expense</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,181 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,702 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,992 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,530 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other segment items </span><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15,736 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,706 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30,191 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">37,660 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Non-operating expense (income)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,021 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(13,815)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11,853 </span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(14,308)</span></td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Provision for income taxes</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">391 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">261 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">663 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">870 </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Segment net loss</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">137,311 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">198,147 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">267,843 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">419,824 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="3" style="background-color:#dbe9cd;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7.75pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:100%">Reconciliation of profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Adjustments and reconciling items</span></div></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbe9cd;padding:0 1pt"></td><td colspan="2" style="background-color:#dbe9cd;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#dbe9cd;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated net loss</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">137,311 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">198,147 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">267,843 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">419,824 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:400;line-height:115%">(1)    Personnel expense includes employee payroll, bonus, and employee benefits for medical care, retirement, insurances and other. </span></div><div style="margin-bottom:3pt;margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'DIN Offc',sans-serif;font-size:7.5pt;font-weight:400;line-height:115%">(2)    Other segment items included in Segment net loss include unallocated non-program R&amp;D expense, legal, accounting and other professional service fees, rent and utilities expense, depreciation, and other corporate expenses.</span></div> 7704000 14245000 14626000 28033000 5730000 8045000 15062000 14229000 13845000 31172000 33578000 62744000 -325000 6845000 -530000 23594000 4142000 21216000 9312000 25589000 9861000 11732000 11003000 20352000 15000 3612000 -19000 4686000 11709000 6737000 16846000 11597000 -288000 1806000 -99000 4809000 2465000 5384000 6502000 9873000 2211000 15393000 3410000 18569000 14000 1104000 63000 1615000 7730000 16398000 16279000 41933000 19421000 20490000 40433000 41627000 11983000 13110000 30458000 48344000 5765000 6004000 11220000 12478000 7181000 7702000 16992000 25530000 15736000 20706000 30191000 37660000 12021000 -13815000 11853000 -14308000 391000 261000 663000 870000 -137311000 -198147000 -267843000 -419824000 0 0 0 0 -137311000 -198147000 -267843000 -419824000 false false false false