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Certain Financial Statement Caption Information | 6 Months Ended
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Jun. 30, 2025
Certain Financial Statement Caption Information [Abstract] |
Certain Financial Statement Caption Information | 4. Certain Financial Statement Caption Information Short-Term Investments The following table summarizes the Company’s short-term investments (in thousands):
|  | Maturity |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
|  | (in years) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | 1 or less |  | $ | 4,487 |  |  | $ | 3 |  |  | $ | - |  |  | $ | 4,490 |
Total |  |  |  | $ | 4,487 |  |  | $ | 3 |  |  | $ | - |  |  | $ | 4,490 |
The Company does no t have any available-for-sale securities as of June 30, 2025. All of the Company’s available-for-sale securities are available to the Company for use in its current operations. As a result, the Company categorizes all of these securities as current assets. There were no impairments considered other-than-temporary during the periods presented, as it is management’s intention and ability to hold the securities until a recovery of the cost basis or recovery of fair value. Unrealized gains and losses are included in accumulated other comprehensive income. Accrued Expenses Accrued expenses consisted of the following (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Accrued payroll and other employee benefits |  | $ | 247 |  |  | $ | 437 |
Clinical development |  |  | 1,753 |  |  |  | 1,962 |
Other accruals |  |  | 129 |  |  |  | 303 |
Biocon and its subsidiaries chemistry, manufacturing and controls services - related party |  |  | 56 |  |  |  | 43 |
Biocon clinical development related to ulcerative colitis study - related party |  |  | 56 |  |  |  | 223 |
Non-clinical research |  |  | 14 |  |  |  | 150 |
Income tax accruals |  |  | 17 |  |  |  | 365 |
Total accrued expenses |  | $ | 2,272 |  |  | $ | 3,483 |

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