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OTHER FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 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 OF DECEMBER 31,
20252024
Clinical trials (1)
$4,566 $3,544 
Clinical drug substance and product manufacturing (2)
1,880 1,998 
Licenses1,303 816 
Outside research and development services (3)
448 642 
Other238 382 
Prepaid expense and other current assets$8,435 $7,382 
(1) 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.
(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.
Property and Equipment, Net
Property and equipment, net were comprised of the following (in thousands):
AS OF DECEMBER 31,
20252024
Machinery and equipment$9,519 $9,758 
Computer software3,984 3,984 
Furniture, fixtures and other556 556 
Leasehold improvements795 795 
Total property and equipment14,854 15,093 
Less: accumulated depreciation and amortization(11,121)(8,893)
Property and equipment, net$3,733 $6,200 
Depreciation and amortization expense for each of the years ended December 31, 2025 and December 31, 2024, and consisted of the following (in thousands):
 YEAR ENDED DECEMBER 31,
20252024
Research and development$2,304 $1,881 
General and administrative179 404 
Total depreciation and amortization expense$2,483 $2,285 
Accrued Expenses
Accrued expenses were comprised of the following (in thousands):
AS OF DECEMBER 31,
20252024
Clinical trials (1)
$10,794 $14,796 
Compensation expense7,450 7,726 
Clinical drug substance and product manufacturing (2)
5,542 5,642 
Other outside research and development (3)
111 632 
Professional fees447 629 
Interest expense857 — 
Other328 465 
Accrued expenses$25,529 $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.