XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Supplementary Balance Sheet Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplementary Balance Sheet Information | 3. Supplementary Balance Sheet Information Short-term investments available-for-sale securities consist of the following:
|  | As of December 31, 2024 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Market Value |
Maturity less than 1 year: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 17,192 |  |  | $ | 27 |  |  | $ | (1 | ) |  | $ | 17,218 |
Commercial paper |  |  | 312 |  |  |  | 1 |  |  |  | — |  |  |  | 313 |
U.S. treasury securities |  |  | 16,475 |  |  |  | 3 |  |  |  | (4 | ) |  |  | 16,474 |
Total maturity less than 1 year |  |  | 33,979 |  |  |  | 31 |  |  |  | (5 | ) |  |  | 34,005 |
Maturity 1 to 2 years: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  | 6,263 |  |  |  | 11 |  |  |  | (3 | ) |  |  | 6,271 |
Total maturity 1 to 2 years |  |  | 6,263 |  |  |  | 11 |  |  |  | (3 | ) |  |  | 6,271 |
Total short-term investments |  | $ | 40,242 |  |  | $ | 42 |  |  | $ | (8 | ) |  | $ | 40,276 |
|  | As of December 31, 2023 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Market Value |
Maturity less than 1 year: |  |  |  |  |  |  |  |  |  |  |  |
Certificate of deposit |  | $ | 8,317 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 8,333 |
Corporate debt securities |  |  | 10,948 |  |  |  | 8 |  |  |  | (16 | ) |  |  | 10,940 |
Commercial paper |  |  | 6,193 |  |  |  | 9 |  |  |  | — |  |  |  | 6,202 |
U.S. government agencies |  |  | 835 |  |  |  | — |  |  |  | (1 | ) |  |  | 834 |
Total maturity less than 1 year |  |  | 26,293 |  |  |  | 33 |  |  |  | (17 | ) |  |  | 26,309 |
Maturity 1 to 2 years: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  | 8,437 |  |  |  | 6 |  |  |  | (10 | ) |  |  | 8,433 |
U.S. treasury securities |  |  | 18,505 |  |  |  | — |  |  |  | (79 | ) |  |  | 18,426 |
Total maturity 1 to 2 years |  |  | 26,942 |  |  |  | 6 |  |  |  | (89 | ) |  |  | 26,859 |
Total short-term investments |  | $ | 53,235 |  |  | $ | 39 |  |  | $ | (106 | ) |  | $ | 53,168 |
For the years ended December 31, 2024 and 2023, the net realized loss recorded within the Company's statements of operations from the sale of short-term investments were $34,000 and $102,000, respectively. The amount of gains and losses reclassified out of other comprehensive loss for the period related to the sales of short-term investments was not material for the years ended December 31, 2024 and 2023. We periodically review our portfolio of debt securities to determine if any investment is impaired due to credit loss or other potential valuation concerns. For debt securities where the fair value of the investment is less than the amortized cost basis, we have assessed at the individual security level for various quantitative factors including, but not limited to, the nature of the investments, changes in credit ratings, interest rate fluctuations, industry analyst reports, and the severity of impairment. Unrealized losses in investments available for sale debt securities at December 31, 2024, were substantially due to changes in interest rates, not due to increased credit risks associated with specific securities. Accordingly, we have not recorded an allowance for credit losses. It is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. There were no unrealized loss positions greater than one year as of December 31, 2024. Investments available for sale that have been in a continuous unrealized loss position for greater than one-year consist of the following:
|  | As of December 31, 2023 |
(in thousands) |  | Fair Market Value |  |  | Gross Unrealized Loss |
Corporate debt securities |  | $ | 397 |  |  | $ | (3 | )
Accrued Interest from short-term investments Accrued interest from short-term investments contained within prepaid expenses and other current assets as of December 31, 2024 and 2023, was $0.4 million and $0.6 million, respectively. Property and Equipment Fixed assets consist of furniture and office equipment, leasehold improvements and laboratory equipment. Depreciation expense for property and equipment for the years ended December 31, 2024 and 2023 was $0.4 million and $0.4 million, respectively. Property and equipment consisted of the following:
(in thousands) |  | As of December 31, 2024 |  |  | As of December 31, 2023 |
Furniture and office equipment |  | $ | 1,053 |  |  | $ | 1,067 |
Leasehold improvements |  |  | 2,568 |  |  |  | 2,568 |
Laboratory equipment |  |  | 1,414 |  |  |  | 1,355 |
Property and equipment, gross |  |  | 5,035 |  |  |  | 4,990 |
Less—accumulated depreciation |  |  | (4,137 | ) |  |  | (3,752 | )
Property and equipment, net |  | $ | 898 |  |  | $ | 1,238 |
Accrued Liabilities Accrued liabilities consisted of the following:
(in thousands) |  | As of December 31, 2024 |  |  | As of December 31, 2023 |
Clinical trials |  | $ | 4,443 |  |  | $ | 4,309 |
Accrued compensation |  |  | 2,746 |  |  |  | 2,737 |
Research agreements and services |  |  | 478 |  |  |  | 530 |
Other accrued liabilities |  |  | 230 |  |  |  | 207 |
Total accrued liabilities |  | $ | 7,897 |  |  | $ | 7,783 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration