v3.26.1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Fair Value Measurements On a Recurring Basis
Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements by major security type are presented in the following table (in thousands):
Level 1Level 2Level 3Total
June 30, 2026
Money market funds$5,976 $— $— $5,976 
Total assets measured at fair value$5,976 $— $— $5,976 
December 31, 2025
Money market funds$5,870 $— $— $5,870 
Total assets measured at fair value$5,870 $— $— $5,870 
Schedule of Potential Dilutive Securities Excluded from Diluted Loss Per Share
Potentially dilutive securities not included in the calculation of diluted loss per share are as follows (in thousands):
AS OF JUNE 30,
20262025
Outstanding stock options3,437 3,647 
Warrants to purchase common stock162 141 
Total3,599 3,788 
Schedule of Segment Reporting
The table below summarizes the significant segment expenses which are regularly provided to the CODM for the purposes of making decisions regarding the allocation of resources and are reconciled to consolidated net loss for the three and six months ended June 30, 2026 and June 30, 2025 (in thousands):
THREE MONTHS ENDED
JUNE 30,		SIX MONTHS ENDED JUNE 30,
2026202520262025
Segment net loss
Revenue$— $1,300 $— $1,300 
Research and development expense
Personnel(8,017)(8,637)(16,543)(17,963)
Clinical trials(5,285)(4,082)(14,465)(17,347)
Contract manufacturing(5,418)(3,828)(7,461)(12,378)
Equipment, depreciation, and facility(2,489)(2,563)(5,051)(5,146)
Other research and development(2,690)(3,157)(5,596)(6,310)
Total research and development expense(23,899)(22,267)(49,116)(59,144)
General and administrative expense
Personnel(4,073)(3,655)(7,720)(7,432)
Other general and administrative(4,177)(2,767)(6,240)(5,014)
Total general and administrative expense(8,250)(6,422)(13,960)(12,446)
Other expense(4,498)(1,263)(7,012)(1,673)
Provision for income taxes(3)(2)(3)(2)
Segment and consolidated net loss$(36,650)$(28,654)$(70,091)$(71,965)