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INCOME TAXES
6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES
7. INCOME TAXES

For each of the six months ended June 30, 2026 and 2025, the effective tax rate was 0.0%. The effective tax rate for each of the six months ended June 30, 2026 and 2025 was lower than the U.S. federal statutory rate of 21.0% primarily due to the Company's valuation allowance against deferred tax assets. As of June 30, 2026, the Company concluded that its deferred tax assets are not expected to be realizable, based on positive and negative evidence, therefore it has assigned a full valuation allowance against them.