RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS In March 2021, the Company entered into the RLT Agreement with Takeda. For a description of the RLT Agreement, see Note 11. In the 2025 Private Placement, Dr. Levin, the Company’s Executive Chair, purchased 71 shares of Series B Preferred Stock, 47,333 Series A Warrants, and 35,500 Series B Warrants for an aggregate purchase price of approximately $99,000. On March 24, 2026, Dr. Levin exercised Series A Warrants to purchase 47,773 shares of common stock for a purchase price of $66,266. For additional information on the 2025 Private Placement, see Note 7. In May 2026, the Company entered into the NewCo Agreement, and Dr. Levin was appointed as chair of the NewCo board of directors. A single investor and its related shareholders hold greater than 50% of the voting and non-voting shares of NewCo and therefore control the operations of NewCo. Dr. Levin was granted restricted stock units to compensate him for his contributions as a director and for his unique historical, clinical and regulatory knowledge.
|