v3.26.1
OTHER FINANCIAL INFORMATION
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER FINANCIAL INFORMATION OTHER FINANCIAL INFORMATION
Prepaid Expense and Other Current Assets
Prepaid expense and other current assets were comprised of the following (in thousands):
AS OFAS OF
JUNE 30, 2026DECEMBER 31, 2025
Clinical trials (1)
$5,053 $4,566 
Clinical drug substance and product manufacturing (2)
1,215 1,880 
Software licenses
1,042 1,303 
Professional fees469 — 
Outside research and development services (3)
383 448 
Other574 238 
Prepaid expense and other current assets$8,736 $8,435 
(1) Relates primarily to the Company’s prepayments to third-party CROs for management of clinical trials and prepayments for drug supply to be used in combination with the Company’s therapeutics. See “Accrued Research and Development and Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(2) Relates primarily to the Company’s usage of third-party CDMOs for clinical and development efforts. See “Accrued Research and Development and Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(3) Relates to the Company’s usage of third-parties for other research and development efforts. See “Accrued Research and Development and Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
Property and Equipment, Net
Property and equipment, net were comprised of the following (in thousands):
AS OFAS OF
JUNE 30, 2026DECEMBER 31, 2025
Machinery and equipment$9,509 $9,519 
Computer software3,984 3,984 
Leasehold improvements795 795 
Furniture, fixtures, and other556 556 
Total property and equipment14,844 14,854 
Less: accumulated depreciation and amortization(12,158)(11,121)
Property and equipment, net$2,686 $3,733 
Depreciation and amortization expense for the six months ended June 30, 2026 and June 30, 2025 consisted of the following (in thousands):
THREE MONTHS ENDED
JUNE 30,		SIX MONTHS ENDED
JUNE 30,
2026202520262025
Research and development$517 $586 $1,047 $1,174 
General and administrative6 76 13 162 
Total depreciation and amortization expense$523 $662 $1,060 $1,336 
Accrued Expenses
Accrued expenses were comprised of the following (in thousands):
AS OFAS OF
JUNE 30, 2026DECEMBER 31, 2025
Clinical trials (1)
$4,397 $10,794 
Compensation-related3,851 7,450 
Clinical drug substance and product manufacturing (2)
2,064 5,542 
Professional fees1,920 447 
Interest expense1,451 857 
Other outside research and development (3)
118 111 
Other1,972 328 
Accrued expenses$15,773 $25,529 
(1) Relates primarily to the Company’s usage of third-party CROs for management of clinical trials. See “Accrued Research and Development and Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(2) Relates primarily to the Company’s usage of third-party CDMOs for clinical and development efforts. See “Accrued Research and Development and Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(3) Relates to the Company’s usage of third-parties for other research and development efforts. See “Accrued Research and Development and Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.