Balance Sheet Components

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Note 4—Balance Sheet Components

Prepaid expenses and other current assets consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Prepaid research and development	$	2,559	$	2,460
Prepaid clinical trial		1,317		866
Deferred offering costs		195		195
Prepaid insurance		143		108
Other		1,011		802
Total prepaid expenses and other current assets	$	5,225	$	4,431

Property, plant and equipment, net consisted of the following (in thousands):


	March 31, 2026			December 31, 2025
Leasehold improvements	$	2,152		$	2,152
Laboratory equipment		3,357			3,306
Computer equipment		758			749
Furniture and fixtures		921			921
Construction in progress		4,236			4,292
		11,424			11,420
Accumulated depreciation		(4,974	)		(4,684	)
Property, plant and equipment, net	$	6,450		$	6,736

Property, plant and equipment, net includes $0.2 million and $0.3 million of assets capitalized as finance leases as of March 31, 2026 and December 31, 2025, respectively.

Depreciation expense was $0.3 million for each of the three months ended March 31, 2026 and 2025.

Accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Accrued research and development	$	4,851	$	3,591
Accrued compensation		2,988		9,425
Accrued clinical trial		3,879		3,290
Lease liabilities, current portion		1,824		1,865
Accrued professional and consulting fees		1,208		1,310
Accrued property, plant and equipment		—		19
Other		784		777
Total accrued expenses and other current liabilities	$	15,534	$	20,277