Quarterly report [Sections 13 or 15(d)]

Balance Sheet Components

v3.26.1
Balance Sheet Components
 3 Months Ended
Mar. 31, 2026
Balance Sheet Components [Abstract]  
Balance Sheet Components

5. Balance Sheet Components

 

Prepaid expenses and other current assets as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

 

    As of     As of  
    December 31,     March 31,  
    2025     2026  
             
Prepaid directors’ and officers’ liability insurance premiums   $ 332     $ 181  
Prepaid drug manufacturing supply costs     6,189       7,689  
Other     1,171       1,089  
Total   $ 7,692     $ 8,959  

  

Property and equipment as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

 

    As of     As of  
    December 31,     March 31,  
    2025     2026  
             
Leasehold improvements   $ 65     $ 36  
Lab equipment     26       26  
Furniture and fixtures     47       44  
Subtotal     138       106  
Less accumulated depreciation     (72 )     (58 )
Net   $ 66     $ 48  

Depreciation expense was immaterial for the three months ended March 31, 2026 and 2025 and is included in general and administrative expenses.

 

Accounts payable as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

 

    As of     As of  
    December 31,     March 31,  
    2025     2026  
             
Trade accounts payable   $ 301     $ 1,014  
Credit card liability     82       126  
Total   $ 383     $ 1,140  

  

Accrued liabilities as of December 31, 2025 and March 31, 2026 consisted of the following (in thousands):

 

    As of     As of  
    December 31,     March 31,  
    2025     2026  
             
Accrued labor costs   $ 329     $ 768  
Accrued drug development costs     753       631  
Other     441       1,653  
Total   $ 1,523     $ 3,052