​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

(in thousands)

​

2026

  ​ ​ ​

2025

​

2026

  ​ ​ ​

2025

Research and development

​

​

​

​

​

​

​

​

​

​

​

​

Wages, benefits, and other payroll

​

$

1,830

​

$

1,302

​

$

3,288

​

$

4,891

Third-party costs

​

​

1,464

​

​

4,154

​

​

3,896

​

​

7,948

Share-based compensation

​

​

49

​

​

248

​

​

191

​

​

492

Depreciation and amortization

​

​

—

​

​

110

​

​

61

​

​

220

Total research and development expenses

​

​

3,343

​

​

5,814

​

​

7,436

​

​

13,551

General and administrative

​

​

​

​

​

​

​

​

​

​

​

​

Wages, benefits, and other payroll

​

​

2,312

​

​

1,798

​

​

4,203

​

​

4,588

Third-party costs

​

​

4,059

​

​

1,974

​

​

6,474

​

​

4,577

Share-based compensation

​

​

476

​

​

675

​

​

890

​

​

1,289

Depreciation and amortization

​

​

26

​

​

73

​

​

93

​

​

151

Total general and administrative expenses

​

​

6,873

​

​

4,520

​

​

11,660

​

​

10,605

Impairment of long-lived assets

​

​

—

​

​

—

​

​

—

​

​

2,637

Net gain on lease terminations

​

​

(1,944)

​

​

—

​

​

(2,577)

​

​

—

Loss from operations

​

​

(8,272)

​

​

(10,334)

​

​

(16,519)

​

​

(26,793)

Other income (expense), net

​

​

451

​

​

949

​

​

1,139

​

​

2,003

Net loss

​

$

(7,821)

​

$

(9,385)

​

$

(15,380)

​

$

(24,790)