| Schedule of significant expense categories |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Research and development expenses | | | | | | | | | | | | | Employee costs | | $ | 1,536 | | $ | 2,341 | | $ | 3,575 | | $ | 5,271 | Clinical product candidates | | | 4,250 | | | 2,569 | | | 7,290 | | | 5,604 | Nonclinical product candidates | | | 746 | | | 981 | | | 1,604 | | | 1,646 | Depreciation and amortization | | | 265 | | | 618 | | | 541 | | | 1,254 | Other R&D(1) | | | 628 | | | 17,582 | | | 1,249 | | | 18,212 | Total R&D | | $ | 7,425 | | $ | 24,091 | | $ | 14,259 | | $ | 31,987 | | | | | | | | | | | | | | | | | | | | | | | | | | | General and administrative expenses | | | | | | | | | | | | | Employee costs | | $ | 877 | | $ | 1,374 | | $ | 2,400 | | $ | 3,451 | Professional services | | | 1,160 | | | 1,266 | | | 2,273 | | | 2,346 | Insurance | | | 233 | | | 243 | | | 455 | | | 505 | Other G&A(2) | | | 322 | | | 318 | | | 735 | | | 625 | Total G&A | | $ | 2,592 | | $ | 3,201 | | $ | 5,863 | | $ | 6,927 |
| (1) | Other R&D consists of facilities related expenses and office expenses and includes $17 million related to the License Agreement with Zaiming for both the three and six months ended June 30, 2025 (Note 3). |
| (2) | Other G&A consists of facilities related expenses, depreciation, office expenses and taxes and fees. |
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The tables below summarize the significant expense categories regularly reviewed by the CODM for the years ended December 31, 2025 and 2024: | | | | | | | | | | | | | | | | Year Ended | | | December 31, | (in thousands) | | 2025 | | | 2024 | Research and development expenses | | | | | | | Employee costs | | $ | 8,974 | | $ | 13,252 | Clinical product candidates | | | 27,669 | | | 13,562 | Nonclinical product candidates | | | 3,758 | | | 9,182 | Depreciation and amortization | | | 2,133 | | | 2,792 | Other R&D(1) | | | 2,389 | | | 2,700 | Total R&D | | $ | 44,923 | | $ | 41,488 | | | | | | | | | | | | | | | General and administrative expenses | | | | | | | Employee costs | | $ | 5,887 | | $ | 8,400 | Professional services | | | 4,614 | | | 4,449 | Insurance | | | 947 | | | 1,281 | Other G&A(2) | | | 1,245 | | | 1,588 | Total G&A | | $ | 12,693 | | $ | 15,718 |
(1)Other R&D consists of facilities related expenses and office expenses. (2)Other G&A consists of facilities related expenses, depreciation, office expenses and taxes and fees.
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