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Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Schedule of Potentially Dilutive Securities Not Considered for Calculation of Diluted Net Loss Per Share

Potentially dilutive securities not considered for the calculation of diluted net loss per share are as follows (in common stock equivalents):

 

 

March 31,

 

 

 

2026

 

 

2025

 

Common stock options and restricted stock units

 

 

13,835,392

 

 

 

9,420,566

 

Employee stock purchase plan

 

 

40,707

 

 

 

34,143

 

Total

 

 

13,876,099

 

 

 

9,454,709

 

Summary of Significant Expense Categories Reviewed by CODM

The table below summarizes the significant expense categories regularly reviewed by our CODM for the three months ended March 31, 2026 and 2025.

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Research and development expenses:

 

 

 

 

 

 

Efzofitimod expenses

 

$

3,535

 

 

$

8,804

 

Preclinical development and other shared research and development expenses

 

 

3,355

 

 

 

2,560

 

Non-cash expenses (depreciation and stock-based compensation)

 

 

427

 

 

 

450

 

Total research and development expenses

 

 

7,317

 

 

 

11,814

 

 

 

 

 

 

 

 

General and administrative expenses:

 

 

 

 

 

 

Other general and administrative expenses

 

 

3,076

 

 

 

3,064

 

Non-cash expenses (depreciation and stock-based compensation)

 

 

1,043

 

 

 

895

 

Total general and administrative expenses

 

 

4,119

 

 

 

3,959

 

 

 

 

 

 

 

 

Other segment items (1)

 

 

644

 

 

 

892

 

 

 

 

 

 

 

 

Consolidated net loss

 

$

(10,792

)

 

$

(14,881

)

 

 

 

 

 

 

 

(1) Other segment items includes interest income and interest expense.