Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 18. Related Party Transactions In March 2024, the Company entered into a research and option agreement (the “Reignite Agreement”) with Reignite Therapeutics Inc. (“Reignite”), which was founded by David Kirn, M.D., Chief Executive Officer of the Company. Reignite has the expertise to develop high-capacity, helper-dependent adenovirus capsids which the Company plans to utilize as it expands its therapeutic capsid evolution platform. Reignite and the Company plan to collaborate on a program to develop these high capacity, helper-dependent adenovirus capsids. Under the Reignite Agreement, the Company shall have the final authority to amend and make updates to the plan and budget of the program. Further, the Company is responsible for the funding of the related research which includes the budgeted full-time employees and CRO costs, equipment costs not to exceed $60 thousand and all other costs, in total not to exceed $1.5 million in any year of the program. The Company will have an option to acquire up to three capsids resulting from the program. The Company shall pay to Reignite an option exercise fee of $1.0 million per selected capsid for which the Company has exercised its option. The maximum total amount payable is $3.0 million. During the three and six months ended June 30, 2026, the Company paid Reignite $0.3 million and $0.7 million, respectively, for research and development expenses. During the three and six months ended June 30, 2025, the Company paid Reignite $0.4 million and $0.5 million, respectively, for research and development expenses. As of June 30, 2026, the Company owes $0.1 million to Reignite for unpaid research and development expense. No option exercise fees were incurred during the three and six months ended June 30, 2026. |