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OTHER FINANCIAL INFORMATION
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER FINANCIAL INFORMATION OTHER FINANCIAL INFORMATION
Prepaid Expense and Other Current Assets
Prepaid expense and other current assets were comprised of the following (in thousands):
AS OFAS OF
MARCH 31, 2025DECEMBER 31, 2024
Clinical drug substance and product manufacturing (1)
$1,889 $1,998 
Software licenses
1,823 816 
Clinical trials (2)
1,448 3,544 
Outside research and development services (3)
1,223 642 
Other269 382 
Prepaid expense and other current assets$6,652 $7,382 
(1) Relates primarily to the Company’s usage of third-party CDMOs for clinical and development efforts. See “Accrued Research and Development Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(2) Relates primarily to the Company’s prepayments to third-party CROs for management of clinical trials and prepayments for drug supply to be used in combination with the Company’s therapeutics. See “Accrued Research and Development Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(3) Relates to the Company’s usage of third-parties for other research and development efforts. See “Accrued Research and Development Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
Property and Equipment, Net
Property and equipment, net were comprised of the following (in thousands):
AS OFAS OF
MARCH 31, 2025DECEMBER 31, 2024
Machinery and equipment$9,758 $9,758 
Computer software3,984 3,984 
Leasehold improvements795 795 
Furniture, fixtures, and other556 556 
Construction in process21 — 
Total property and equipment15,114 15,093 
Less: accumulated depreciation and amortization(9,568)(8,893)
Property and equipment, net$5,546 $6,200 
Depreciation and amortization expense for the three and three months ended March 31, 2025 and March 31, 2024 consisted of the following (in thousands):
THREE MONTHS ENDED
MARCH 31,
20252024
Research and development$588 $256 
General and administrative87 104 
Total depreciation and amortization expense$675 $360 
Accrued Expenses
Accrued expenses were comprised of the following (in thousands):
AS OFAS OF
MARCH 31, 2025DECEMBER 31, 2024
Clinical trials (1)
$18,900 $14,796 
Clinical drug substance and product manufacturing (2)
8,683 5,642 
Compensation-related2,718 7,726 
Interest expense857 — 
Professional fees614 629 
Other outside research and development (3)
622 632 
Other380 465 
Accrued expenses$32,774 $29,890 
(1) Relates primarily to the Company’s usage of third-party CROs for management of clinical trials. See “Accrued Research and Development Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(2) Relates primarily to the Company’s usage of third-party CDMOs for clinical and development efforts. See “Accrued Research and Development Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.
(3) Relates to the Company’s usage of third-parties for other research and development efforts. See “Accrued Research and Development Clinical Trial Costs” in Note 1 for further discussion of the components of research and development.