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Related Party Transactions
 3 Months Ended
Mar. 31, 2026
Related Party Transactions  
Related Party Transactions

16. Related Party Transactions

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As part of the January 2026 follow-on public offering, 30,000 shares of common stock, at the public offering price of $22.15 per share, were sold to Puissance Capital Management, a related party. Ted Wang, Ph.D., a Co-Founder, General Manager and Director of Angel Pharmaceuticals, of which the Company holds a 49.7% ownership interest, is the founder of Puissance Capital Management.

In July 2021, Linda S. Grais, M.D., J.D., a member of the Company’s Board of Directors, was appointed as a non-executive member of the Board of Directors of ICON plc (“ICON”), effective upon completion of ICON’s acquisition of PRA Health Sciences, Inc. ICON is a clinical research organization and provides services to support the Company’s clinical trials. During the three months ended March 31, 2026 and 2025, the Company recorded approximately $123,000 and $94,000, respectively, in clinical trial expenses under its agreements with ICON.