| Schedule of significant expense categories |
| | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | (in thousands) | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | | 2025 | Research and development expenses | | | | | | | | | | | | | Employee costs | | $ | 785 | | $ | 2,013 | | $ | 4,360 | | $ | 7,284 | Clinical product candidates | | | 2,504 | | | 2,357 | | | 9,985 | | | 7,961 | Nonclinical product candidates | | | 617 | | | 667 | | | 2,030 | | | 2,313 | Depreciation and amortization | | | — | | | 521 | | | 541 | | | 1,775 | Other R&D (1) | | | 629 | | | 578 | | | 1,878 | | | 18,790 | Total R&D | | $ | 4,535 | | $ | 6,136 | | $ | 18,794 | | $ | 38,123 | | | | | | | | | | | | | | | | | | | | | | | | | | | General and administrative expenses | | | | | | | | | | | | | Employee costs | | $ | 1,036 | | $ | 1,324 | | $ | 3,436 | | $ | 4,775 | Professional services | | | 2,818 | | | 971 | | | 5,091 | | | 3,317 | Insurance | | | 192 | | | 220 | | | 647 | | | 725 | Other G&A (2) | | | 382 | | | 294 | | | 1,117 | | | 919 | Total G&A | | $ | 4,428 | | $ | 2,809 | | $ | 10,291 | | $ | 9,736 |
(1) Other R&D consists primarily of facilities-related expenses and office expenses. Other R&D also includes $17.0 million related to the License Agreement with Zaiming for the nine months ended September 30, 2025 (Note 3, License Agreement). (2) Other G&A consists primarily of facilities-related expenses, depreciation, office expenses and taxes and fees.
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