Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Recent Accounting Pronouncements

6. Recent Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, "Improvement to Income Tax Disclosures", which intends to enhance the transparency and decision usefulness of income tax disclosures through additional disaggregation requirements. The guidance is effective for annual periods beginning after December 31, 2024. The Company did not generate income and did not incur income tax expense or benefit during the year ended December 31, 2025. Accordingly, the adoption of ASU 2023-09 is not expected to have a material impact on the Company’s consolidated financial statements or related disclosures.

In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income-Expense Disaggregation Disclosures (“ASU 2024-03”). ASU 2024-03 requires a public business to provide disaggregated disclosures of certain categories of expense on an annual an interim basis. The update will be effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact of adopting ASU 2024-03 on its consolidated financial statements and disclosures.