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OTHER FINANCIAL INFORMATION
 6 Months Ended
Jun. 30, 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
JUNE 30, 2025DECEMBER 31, 2024
Clinical drug substance and product manufacturing (1)
$2,480 $1,998 
Clinical trials (2)
1,682 3,544 
Software licenses
1,219 816 
Outside research and development services (3)
766 642 
Other283 382 
Prepaid expense and other current assets$6,430 $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
JUNE 30, 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(10,229)(8,893)
Property and equipment, net$4,885 $6,200 
Depreciation and amortization expense for the three and six months ended June 30, 2025 and June 30, 2024 consisted of the following (in thousands):
THREE MONTHS ENDED
JUNE 30,		SIX MONTHS ENDED
JUNE 30,
2025202420252024
Research and development$586 $374 $1,174 $631 
General and administrative76 101 162 205 
Total depreciation and amortization expense$662 $475 $1,336 $836 
Accrued Expenses
Accrued expenses were comprised of the following (in thousands):
AS OFAS OF
JUNE 30, 2025DECEMBER 31, 2024
Clinical trials (1)
$13,127 $14,796 
Clinical drug substance and product manufacturing (2)
8,442 5,642 
Compensation-related3,848 7,726 
Professional fees1,074 629 
Interest on long-term debt
829 — 
Other outside research and development (3)
771 632 
Other387 465 
Accrued expenses$28,478 $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.