BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Property, Plant and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over their estimated useful lives as follows:


Computer equipment	3			years
Software	3	-	5	years
Furniture and fixtures	5	-	7	years
Manufacturing and laboratory equipment	7			years

Property and equipment consisted of the following:


	March 31, 2026		December 31, 2025
Manufacturing and laboratory equipment	$	1,821	$	1,778
Software	1,083		1,083
Furniture and fixtures	70		70

Computer equipment	111		111
Leasehold improvements	5,987		5,967
Construction-in-progress	1,639		1,509
Property and equipment, cost	10,711		10,518
Less: Accumulated depreciation and amortization	(1,401)		(932)
Total property and equipment, net	$	9,310	$	9,586

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities, presented on a common stock equivalent basis, have been excluded from the calculation of weighted average common shares outstanding for the three months ended March 31, 2026 and 2025 because the effect is anti-dilutive due to the net loss reported in each of those periods.

All share amounts presented in the table below represent the total number outstanding as of the end of each period indicated.


	March 31, 2026	March 31, 2025
Convertible notes payable	605,449	—
Preferred stock series A	5,521,800	—
Preferred stock series C	34,667	34,667
Warrants to purchase common stock	70,988	5,500
Stock options	1,539,363	87,049
Nonvested restricted stock units	460,195	24,583