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Certain Financial Statement Caption Information

6 Months Ended

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 not 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