Commitments and Contingencies	6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies In November 2021, the Company entered into an office lease with One Pacific Heights LLC (the “Office Lease”). The Office Lease was for approximately 7,940 rentable square feet of space located at 9920 Pacific Heights Blvd, Suite 350, San Diego, California 92121 (the “Prior Premises”). Monthly base rent payments due under the Office Lease for the Prior Premises were $28,187, subject to annual increases of 3.0% during the term of the Office Lease. Under the Office Lease, the Company was responsible for certain charges for common area maintenance and other costs, including utility expenses, and the Office Lease provided for abatement of rent during certain periods and escalating rent payments throughout the term of the Office Lease, which was from March 1, 2022 through July 2, 2027. In September 2024, the Company entered into an office sublease (the “Office Sublease”) with TÜV SÜD America Inc. The Office Sublease was for approximately 6,307 rentable square feet of space located at 9920 Pacific Heights Blvd, Suite 325, San Diego, California 92121 (the “Prior Subleased Premises”). Monthly base rent payments due under the Office Sublease for the Prior Subleased Premises were $12,614, subject to annual increases of 3.0% during the term of the Office Sublease. Under the Office Sublease, the Company was responsible for certain other costs, including utility expenses. The term of the Office Sublease was from September 16, 2024 to March 31, 2026. On March 10, 2025, the Company entered into broad, multi-year manufacturing agreements (the “Manufacturing Agreements”) with Corden Pharma Colorado, Inc. and its affiliates (“CordenPharma”), covering both the active pharmaceutical ingredient (“API”) and final finished product supply for VK2735. Under the terms of the Manufacturing Agreements, the Company secured dedicated capacity for the annual manufacture and supply of multiple metric tons of VK2735 API. In addition, CordenPharma will provide fill/finish capacity for both the injectable and oral formulations of VK2735. In exchange for dedicated API and fill/finish capacity, the Company will make prepayments to CordenPharma, to be paid over the period from 2026 to 2028. These prepayments will be fully credited against future orders. In October 2025, the Company entered into the Amended Office Lease with One Pacific Heights LLC for which the Company took possession of the New Premises (as defined below) commencing on April 8, 2026. Concurrently, the remainder of the Office Lease was terminated. The Amended Office Lease is for approximately 25,062 rentable square feet of space located at 9920 Pacific Heights Blvd, Suite 500, San Diego, California 92121 (the “New Premises”). The New Premises are now the Company’s corporate headquarters. Monthly base rent payments due under the Amended Office Lease for the New Premises are $87,717 for months 1 - 36, $106,514 for months 37 - 48, $109,772 for months 49 - 60, and $113,030 for months 61 - 67. The Company is responsible for certain charges for common area maintenance and other costs, including utility expenses, and the Amended Office Lease provides for abatement of rent during certain periods. The Amended Office Lease provides the Company with an option to extend the term of the Amended Office Lease for a period of five years beyond the Term. If the option is exercised, the renewal term will be upon the same terms and conditions as the Term, except that the base rent will be equal to the prevailing market rate as determined pursuant to the terms of the Amended Lease.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

7. Commitments and Contingencies

In November 2021, the Company entered into an office lease with One Pacific Heights LLC (the “Office Lease”). The Office Lease was for approximately 7,940 rentable square feet of space located at 9920 Pacific Heights Blvd, Suite 350, San Diego, California 92121 (the “Prior Premises”).

Monthly base rent payments due under the Office Lease for the Prior Premises were $28,187, subject to annual increases of 3.0% during the term of the Office Lease. Under the Office Lease, the Company was responsible for certain charges for common area maintenance and other costs, including utility expenses, and the Office Lease provided for abatement of rent during certain periods and escalating rent payments throughout the term of the Office Lease, which was from March 1, 2022 through July 2, 2027.

In September 2024, the Company entered into an office sublease (the “Office Sublease”) with TÜV SÜD America Inc. The Office Sublease was for approximately 6,307 rentable square feet of space located at 9920 Pacific Heights Blvd, Suite 325, San Diego, California 92121 (the “Prior Subleased Premises”).

Monthly base rent payments due under the Office Sublease for the Prior Subleased Premises were $12,614, subject to annual increases of 3.0% during the term of the Office Sublease. Under the Office Sublease, the Company was responsible for certain other costs, including utility expenses. The term of the Office Sublease was from September 16, 2024 to March 31, 2026.

On March 10, 2025, the Company entered into broad, multi-year manufacturing agreements (the “Manufacturing Agreements”) with Corden Pharma Colorado, Inc. and its affiliates (“CordenPharma”), covering both the active pharmaceutical ingredient (“API”) and final finished product supply for VK2735. Under the terms of the Manufacturing Agreements, the Company secured dedicated capacity for the annual manufacture and supply of multiple metric tons of VK2735 API. In addition, CordenPharma will provide fill/finish capacity for both the injectable and oral formulations of VK2735. In exchange for dedicated API and fill/finish capacity, the Company will make prepayments to CordenPharma, to be paid over the period from 2026 to 2028. These prepayments will be fully credited against future orders.

In October 2025, the Company entered into the Amended Office Lease with One Pacific Heights LLC for which the Company took possession of the New Premises (as defined below) commencing on April 8, 2026. Concurrently, the remainder of the Office Lease was terminated. The Amended Office Lease is for approximately 25,062 rentable square feet of space located at 9920 Pacific Heights Blvd, Suite 500, San Diego, California 92121 (the “New Premises”). The New Premises are now the Company’s corporate headquarters.

Monthly base rent payments due under the Amended Office Lease for the New Premises are $87,717 for months 1 - 36, $106,514 for months 37 - 48, $109,772 for months 49 - 60, and $113,030 for months 61 - 67. The Company is responsible for certain charges for common area maintenance and other costs, including utility expenses, and the Amended Office Lease provides for abatement of rent during certain periods.

The Amended Office Lease provides the Company with an option to extend the term of the Amended Office Lease for a period of five years beyond the Term. If the option is exercised, the renewal term will be upon the same terms and conditions as the Term, except that the base rent will be equal to the prevailing market rate as determined pursuant to the terms of the Amended Lease.