March 31,

December 31,

2025

2024

(in thousands)

Accrued clinical trial and preclinical costs

$

11,482

$

11,606

Accrued research and development services ($6.3 million and nil     
     million due to related party in 2025 and 2024, respectively)

6,250

—

Compensation and benefits

6,159

9,975

Professional services

1,972

2,686

Other

409

326

Total accrued liabilities

$

26,272

$

24,593