Taxes

9 Months Ended

Sep. 30, 2026

Income Tax Disclosure [Abstract]

Taxes

Taxes

The Company had no current or deferred income tax expense or benefit during the three and nine months ended September 30, 2026 and 2025. Deferred income taxes reflect the net tax effects of loss and credit carryforwards, as well as temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. The realization of these deferred tax assets is dependent upon future taxable income, the amount and timing of which are currently uncertain. All of the Company’s deferred tax assets—which include net operating loss carryforwards, tax credits related primarily to research and development,

capitalized research and development costs, and operating lease liabilities—continue to have a full valuation allowance as of September 30, 2026. The Company will maintain this full valuation allowance until there is sufficient evidence to support the recoverability of its deferred tax assets.