Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 16. Related Party Transactions
Operating Lease
The Company leases a building for the production of therapeutic radiopharmaceuticals and for research and development from one of the Company’s investors. The terms of the lease were negotiated on an arm’s-length basis. The lease commenced in February 2021 and expires in January 2031. The lease requires monthly base rent of $6 and is accounted for as an operating lease. Operating lease cost related to this lease was $18 for each of the three months ended June 30, 2026 and 2025 and $37 for each of the six months ended June 30, 2026 and 2025. As of June 30, 2026 and December 31, 2025, the Company’s operating lease right-of-use assets were $301 and $330, respectively, and total operating lease liabilities were $295 and $324, respectively. Of the total lease liabilities, $55 and $56 were classified as current liabilities as of June 30, 2026 and December 31, 2025, respectively, with the remaining $240 and $268 classified as long-term liabilities, respectively.
2023 Term Loan
The Company had an outstanding term loan balance with an existing investor who is a related party. In connection with the Merger, the term loan was repaid in full. For additional information regarding the 2023 Term Loan and related accounting, see Note 5 Short-Term Debt.
Related Party Advances and Promissory Notes
In January 2026, the Company received unsecured, non-interest-bearing, payable-on-demand advances of $330 from a board member of Legacy Ionetix and $30 from an executive officer to support the Company’s liquidity needs. In February 2026, the $30 advance from the executive officer was repaid. In March 2026, the $330 advance from the board member was converted into an unsecured promissory note. In March 2026, the Company also issued two additional unsecured promissory notes to the same board member with principal amounts of $200 and $375. In April 2026, the Company received additional non-interest-bearing advances of $350 from the same board member. In connection with the closing of the Merger in April 2026, all outstanding promissory notes and advances from the board member were repaid in full, including all outstanding principal and accrued interest. This board member served on the board of directors of Legacy Ionetix at the time of these transactions and did not become a member of the Company’s board of directors upon the closing of the Merger. As of June 30, 2026 and December 31, 2025, no related party advances were outstanding. See Note 5, Short-Term Debt for additional information. |