Balance Sheet Components

3 Months Ended

Mar. 31, 2026

Balance Sheet Components [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Prepaid expenses and other current assets as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

	As of		As of
	December 31,		March 31,
	2025		2026
Prepaid directors’ and officers’ liability insurance premiums	$	332	$	181
Prepaid drug manufacturing supply costs		6,189		7,689
Other		1,171		1,089
Total	$	7,692	$	8,959

Property and equipment as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

	As of			As of
	December 31,			March 31,
	2025			2026
Leasehold improvements	$	65		$	36
Lab equipment		26			26
Furniture and fixtures		47			44
Subtotal		138			106
Less accumulated depreciation		(72	)		(58	)
Net	$	66		$	48

Depreciation expense was immaterial for the three months ended March 31, 2026 and 2025 and is included in general and administrative expenses.

Accounts payable as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

	As of		As of
	December 31,		March 31,
	2025		2026
Trade accounts payable	$	301	$	1,014
Credit card liability		82		126
Total	$	383	$	1,140

Accrued liabilities as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

	As of		As of
	December 31,		March 31,
	2025		2026
Accrued labor costs	$	329	$	768
Accrued drug development costs		753		631
Other		441		1,653
Total	$	1,523	$	3,052