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false 10-K true 2025-12-31 --12-31 false 001-37809 METAVIA INC. DE 47-2389984 545 Concord Avenue, Suite 210 Cambridge MA 02138 857 702-9600 Common stock, $0.001 par value MTVA NASDAQ No No Yes Yes Non-accelerated Filer true false false false false 3000000 5090936 Risk managementWe recognize the importance of assessing, identifying, and managing risks associated with cybersecurity threats. These risks include, among other things, operational risks; intellectual property theft; fraud; extortion; harm to employees, violation of privacy or security laws and other litigation and legal risk; and reputational risks. We are committed to maintaining robust governance and oversight of these risks and to implementing mechanisms, controls, technologies, and processes designed to help us assess, identify, and manage these risks. While we have not, as of the date of this Annual Report, experienced a cybersecurity threat or incident that resulted in a material adverse impact to our business or operations, there can be no guarantee that we will not experience such an incident in the future. We aim to incorporate industry best practices throughout our cybersecurity program. Our cybersecurity strategy focuses on implementing effective and efficient controls, technologies, and other processes to assess, identify, and manage material cybersecurity risks. Our cybersecurity program is designed to be aligned with applicable industry standards. We work with a third-party provider to monitor threats and potential cybersecurity breaches.We have processes in place to assess, identify, manage, and address material cybersecurity threats and incidents. These include, among other things: ongoing security awareness training for employees; mechanisms to detect and monitor unusual network activity; and containment and incident response tools. We monitor issues that are internally discovered or reported by our third-party monitoring service that may affect our information services and have processes to assess those issues for potential cybersecurity impact or risk. We impose security requirements upon our suppliers and CROs, including maintaining an effective security management program; abiding by information handling and asset management requirements; and notifying us in the event of any known or suspected cyber incident. We recognize the importance of assessing, identifying, and managing risks associated with cybersecurity threats. These risks include, among other things, operational risks; intellectual property theft; fraud; extortion; harm to employees, violation of privacy or security laws and other litigation and legal risk; and reputational risks. We are committed to maintaining robust governance and oversight of these risks and to implementing mechanisms, controls, technologies, and processes designed to help us assess, identify, and manage these risks. true false true true GovernanceOur Board has ultimate oversight of cybersecurity risk, which it manages as part of our enterprise risk management program. That program is utilized in making decisions with respect to Company priorities, resource allocations, and oversight structures. The Board is assisted by the audit committee, which reviews our cybersecurity program with management and reports to the Board. The audit committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this domain. The audit committee is composed of Board members with diverse expertise including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively.Our Chief Executive Officer, Chief Financial Officer and corporate controller have operational experience in assessing and managing cybersecurity risk. Our Chief Executive Officer plays a pivotal role in informing the audit committee on cybersecurity risks. They provide comprehensive briefings to the audit committee on a regular basis, with a minimum frequency of once per year. These briefings encompass a broad range of topics, including:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt 0pt 8pt 0pt;">●</td><td style="padding:0pt 0pt 8pt 0pt;">Current cybersecurity landscape and emerging threats;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt 0pt 8pt 0pt;">●</td><td style="padding:0pt 0pt 8pt 0pt;">Status of ongoing cybersecurity initiatives and strategies;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt 0pt 8pt 0pt;">●</td><td style="padding:0pt 0pt 8pt 0pt;">Incident reports and learnings from any cybersecurity events; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Compliance with regulatory requirements and industry standards.</td></tr></table><div style="margin-top:8pt;"></div>In addition to our scheduled meetings, the audit committee and Chief Executive Officer maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. Together, they receive updates on any significant developments in the cybersecurity domain, ensuring the Board’s oversight is proactive and responsive. The audit committee actively participates in strategic decisions related to cybersecurity, offering guidance and approval for major initiatives. This involvement ensures that cybersecurity considerations are integrated into the broader strategic objectives of MetaVia. Our Chief Financial Officer is informed by our third-party monitoring service of any cybersecurity incidents, who will then escalate the incident to our Chief Executive Officer, if necessary. Furthermore, significant cybersecurity matters, and strategic risk management decisions are escalated to the Board, ensuring that they have comprehensive oversight and can provide guidance on critical cybersecurity issues. Our Board has ultimate oversight of cybersecurity risk, which it manages as part of our enterprise risk management program. That program is utilized in making decisions with respect to Company priorities, resource allocations, and oversight structures. The Board is assisted by the audit committee, which reviews our cybersecurity program with management and reports to the Board. The audit committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this domain. The audit committee is composed of Board members with diverse expertise including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively. The audit committee Our Chief Executive Officer, Chief Financial Officer and corporate controller have operational experience in assessing and managing cybersecurity risk. Our Chief Executive Officer plays a pivotal role in informing the audit committee on cybersecurity risks. They provide comprehensive briefings to the audit committee on a regular basis, with a minimum frequency of once per year. These briefings encompass a broad range of topics, including:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt 0pt 8pt 0pt;">●</td><td style="padding:0pt 0pt 8pt 0pt;">Current cybersecurity landscape and emerging threats;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt 0pt 8pt 0pt;">●</td><td style="padding:0pt 0pt 8pt 0pt;">Status of ongoing cybersecurity initiatives and strategies;</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt 0pt 8pt 0pt;">●</td><td style="padding:0pt 0pt 8pt 0pt;">Incident reports and learnings from any cybersecurity events; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Compliance with regulatory requirements and industry standards.</td></tr></table><div style="margin-top:8pt;"></div>In addition to our scheduled meetings, the audit committee and Chief Executive Officer maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. 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Prepaid expenses and other current assets consist of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:56.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:39.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31,</td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.85%;background:#cceeff;margin:0pt;padding:0pt;">Insurance</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 7</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;margin:0pt;padding:0pt;"> 5</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.85%;margin:0pt;padding:0pt;">Deposits</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"> 32</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;margin:0pt;padding:0pt;"> 16</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:56.85%;background:#cceeff;margin:0pt;padding:0pt;">Deferred equity offering costs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 511</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:middle;width:56.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Other prepaid expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 34</td></tr><tr style=""><td style="vertical-align:middle;width:56.85%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 597</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 55</td></tr></table>

7000

5000

32000

16000

511000

47000

34000

597000

55000

Property and equipment, net consist of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:56.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:39.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31,</td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:middle;width:56.85%;background:#cceeff;margin:0pt;padding:0pt;">Office equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 90</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;margin:0pt;padding:0pt;"> 88</td></tr><tr style=""><td style="vertical-align:middle;width:56.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Less accumulated depreciation</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (73)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (54)</td></tr><tr style=""><td style="vertical-align:middle;width:56.85%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Property and equipment, net</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 17</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 34</td></tr></table>

90000

88000

73000

54000

17000

34000

19000

20000

Accrued expenses and other current liabilities consist of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:56.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:39.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31,</td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:56.85%;background:#cceeff;margin:0pt;padding:0pt;">Employee related costs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;margin:0pt;padding:0pt;"> 829</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;margin:0pt;padding:0pt;"> 713</td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;margin:0pt;padding:0pt;">Professional service fees</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;margin:0pt;padding:0pt;"> 15</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;margin:0pt;padding:0pt;"> 17</td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 149</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 55</td></tr><tr style=""><td style="vertical-align:bottom;width:56.85%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.83%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 993</td><td style="vertical-align:bottom;white-space:nowrap;width:3.49%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.82%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 785</td></tr></table>

829000

713000

15000

17000

149000

55000

993000 785000

Changes to our warrant liabilities are summarized as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:76.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:4.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:76.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr style=""><td style="vertical-align:bottom;width:76.82%;background:#cceeff;margin:0pt;padding:0pt;">As of January 1, 2024</td><td style="vertical-align:bottom;width:4.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.22%;background:#cceeff;margin:0pt;padding:0pt;"> 658</td></tr><tr style=""><td style="vertical-align:bottom;width:76.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gain from change in fair value of warrant liabilities</td><td style="vertical-align:bottom;width:4.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (297)</td></tr><tr style=""><td style="vertical-align:bottom;width:76.82%;background:#cceeff;margin:0pt;padding:0pt;">As of December 31, 2024</td><td style="vertical-align:bottom;width:4.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.22%;background:#cceeff;margin:0pt;padding:0pt;"> 361</td></tr><tr style=""><td style="vertical-align:bottom;width:76.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gain from change in fair value of warrant liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:4.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (225)</td></tr><tr style=""><td style="vertical-align:bottom;width:76.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">As of December 31, 2025</td><td style="vertical-align:bottom;width:4.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.22%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 136</td></tr></table>

658000

-297000

361000

-225000

136000

178000000 138000000 P60D P60D P90D P30D 0 0.39 0.37 P30D P30D

3400000

4900000

3300000

1500000

2000000 650000 716000 29000

0.046

1300000

P3Y

P2Y

100000

The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the consolidated balance sheet as of December 31, 2025 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.15%;margin:0pt;padding:0pt;">Operating</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Lease</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;background:#cceeff;margin:0pt;padding:0pt;"> 92</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;"> 94</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 64</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;margin:0pt;padding:0pt;">Total lease payments</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;"> 250</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Less effect of discounting</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (40)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;margin:0pt;padding:0pt;"> Total</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;margin:0pt;padding:0pt;"> 210</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Short-term portion</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 68</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:75.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Long-term portion</td><td style="vertical-align:bottom;white-space:nowrap;width:5.08%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.29%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.86%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 142</td></tr></table>

92000

94000

64000

250000

40000

210000

68000

142000

0.11

P21Y 0.90 P6Y 1

7.Stockholders’ equity Common stockThe voting, dividend, and liquidation rights of the holders of the common stock are subject to and qualified by the rights, powers, and preferences of the holders of the preferred stock when outstanding. The holders of the common stock are entitled to one vote for each share of common stock held at all meetings of stockholders. Common stockholders are entitled to receive dividends at the sole discretion of our Board. There have been no dividends declared on common stock to date as of December 31, 2025. In the event of any liquidation, dissolution, or winding-up of MetaVia, the holders of common stock shall be entitled to share in the remaining assets of MetaVia available for distribution post preferential distributions made to any holders of our preferred stock. 2025 OfferingPrivate placementIn May 2025, we closed on a private placement offering with Dong-A ST and Dong-A Holdings, and received net proceeds of $9.1 million, net of placement agent cash fees of $0.4 million and related offering expenses of $0.5 million. The private placement offering was comprised of (i) 861,758 shares of our common stock for a purchase price of $7.81 per share, and (ii) 418,651 pre-funded warrants to purchase up to an equivalent number of shares of our common stock for a purchase price of $7.799 per pre-funded warrant.Each pre-funded warrant had an exercise price of $0.011 per share, and was exercisable beginning on June 30, 2025, which was the effective date of receiving stockholder approval for the issuance of the shares of common stock underlying the pre-funded warrants. Thereafter, on the same date, all pre-funded warrants were exercised for an equivalent number of shares of our common stock.At the market offeringIn November 2025, we entered into an At The Market Offering Agreement (the “ATM Sales Agreement”) with Ladenburg Thalmann & Co. Inc., as sales agent and/or principal (“Ladenburg”), pursuant to which we may offer and sell, from time to time through or to Ladenburg, shares of our common stock having an aggregate offering price of up to $2.3 million (the “ATM Program”). The offer and sale of the shares of common stock pursuant to the ATM Program is made pursuant to a shelf registration statement on Form S-3 and the related prospectus (File No. 333-278646) filed with the SEC on April 12, 2024, and declared effective by the SEC on April 23, 2024, as supplemented by a prospectus supplement to be filed with the SEC on November 6, 2025 pursuant to Rule 424(b) under the Securities Act.Pursuant to the ATM Sales Agreement, Ladenburg may sell the Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) of the Securities Act. We are not obligated to make any sales of the Shares under the ATM Sales Agreement. The offering of Shares pursuant to the ATM Sales Agreement will terminate upon the termination of the ATM Sales Agreement by Ladenburg or us, as permitted therein. We are obligated to pay Ladenburg an aggregate sales agent commission of 3.0% of the gross sales price of the Shares sold pursuant to the ATM Sales Agreement. We will also reimburse Ladenburg for certain specified expenses in connection with entering into the ATM Sales Agreement, which contains customary representations and warranties and conditions to the placements of the Shares pursuant thereto.In November 2025, we sold 106,788 shares of common stock under the ATM Program and received net proceeds of $0.9 million, net of sales agent commission and related offering expenses. As of December 31, 2025, we have $1.1 million remaining under the ATM Program in which we may offer and sell shares of our common stock.2024 OfferingSecurities purchase agreementsIn June 2024, we entered into and closed on two securities purchase agreements (the “Offering”) with an institutional investor and Dong-A ST, and received aggregate gross proceeds of $20.0 million, of which $10.0 million was received from Dong-A ST. The net proceeds received was $18.3 million, net of placement agent cash fees of $0.7 million and related offering expenses of $1.0 million. The Offering was comprised of (i) 300,707 shares of common stock at a purchase price of $43.23 per share, (ii) pre-funded warrants to purchase up to 161,924 shares of common stock at a purchase price of $43.219 per warrant, (iii) Series A warrants to purchase 462,640 shares of common stock, and (iv) Series B warrants to purchase up to 693,962 shares of common stock. Collectively, the Series A and Series B warrants are referred to as “PIPE Common Warrants.” Of the total shares of common stock issued in the Offering, 69,396 shares were sold to an institutional investor. The pre-funded warrants have an exercise price of $0.011 per share and are immediately exercisable and are considered to be perpetual warrants without any expiration date. In the second quarter of 2025, all of the pre-funded warrants were exercised for an equivalent number of shares of our common stock. The PIPE Common Warrants have an exercise price of $43.23 per share and are exercisable as of September 18, 2024, which is the effective date of the stockholder approval received at the Special Meeting of Stockholders for the issuance of the shares upon exercise of the warrants. The Series A warrants were exercisable at any time from September 18, 2024 and expired unexercised in June 2025. The Series B warrants were exercisable at any time from September 18, 2024 and expire on the earlier of September 18, 2029 and the six month anniversary following the date on which we publicly announce receiving positive Phase 1, Part 3 data for DA-1726. Based on the terms of the PIPE Common Warrants, we have concluded that the accounting classification of the PIPE Common Warrants is to be stockholders’ equity.Under the terms of the pre-funded warrants and the PIPE Common Warrants issued to the institutional investor, we may not affect the exercise of any such pre-funded warrants or PIPE Common Warrants, and the holder will not be entitled to exercise any portion of any pre-funded warrants or PIPE Common Warrants, if, upon giving effect to such exercise, the aggregate number of shares of common stock beneficially owned by the holder (together with its affiliates, other persons acting or who could be deemed to be acting as a group together with the holder or any of the holder’s affiliates, and any other persons whose beneficial ownership of common stock would or could be aggregated with the holder’s or any of the holder’s affiliates) would exceed 9.99% (in the case of the pre-funded warrants) or 4.99% (in the case of the PIPE Common Warrants) of the number of shares of our outstanding common stock immediately after giving effect to the exercise (the “Beneficial Ownership Limitation”), as such percentage ownership is calculated in accordance with Section 13(d) of the Exchange Act and the applicable regulations of the SEC. A holder of the pre-funded warrants or PIPE Common Warrants that were issued to the institutional investor may increase or decrease the Beneficial Ownership Limitation to a higher or lower percentage (not to exceed 9.99%), effective 61 days after written notice to us. Any such increase or decrease will apply only to that holder and not to any other holder of the pre-funded Warrants or PIPE Common Warrants.Placement agentWe paid the placement agent a cash fee equal to 7.0% of the gross proceeds of the Offering received from a certain institutional investor and $0.1 million for non-accountable expenses and clearing costs. In addition, we issued warrants to the placement agent’s designees (“Placement Agent Warrants”) to purchase up to 11,564 shares of common stock (which represents 5% of the sum of the shares of common stock and pre-funded Warrants sold to the institutional investor in the Offering) at an exercise price of $54.0375 per share (which represents a premium of 125% of the offering price per share of common stock in the Offering). The Placement Agent Warrants are exercisable at any time from September 18, 2024 and expire in July 2026. The grant date fair value of the Placement Agent Warrants was $0.3 million, which represents a non-cash issuance cost. The weighted average grant date fair value per share of these Placement Agent Warrants was $30.03, which was determined using the Black-Scholes option pricing model. Based on the terms of the Placement Agreement Warrants, we have concluded that the accounting classification of the Placement Agent Warrants is stockholders’ equity in the accompanying consolidated balance sheets.Upon the exercise for cash of any PIPE Common Warrants issued to a certain institutional investor, we shall pay the placement agent (i) a cash fee of 7.0% of the aggregate gross exercise price paid in cash with respect thereto and (ii) a non-cash fee in the form of additional warrants to purchase the number of shares of common stock equal to 5.0% of the aggregate number of such shares of common stock underlying such warrants. The cash fee payable to the placement agent for any PIPE Common Warrants exercised by the institutional investor is accounted for as a contingent commitment and will be recorded as an offset to any gross proceeds received from any future exercises of PIPE Common Warrants by the institutional investor. The non-cash fee payable to the placement agent for any PIPE Common Warrants exercised by the institutional investor is accounted for as contingent warrants (“Placement Agent Contingent Warrants”) to purchase up to 28,915 shares of common stock, which is subject to performance criteria of the institutional investor regarding any exercise for cash of any PIPE Common Warrants with an assumed grant date of the Offering closing date, and an exercise price of $54.0375 per share. The weighted average grant date fair value per share of these Placement Agent Contingent Warrants was $37.73, which was determined using the Black-Scholes option pricing model. Based on the terms of the placement agent engagement letter, we have concluded that the accounting classification of the Placement Agent Contingent Warrants is to be stockholders’ equity. On each balance sheet reporting date, we will need to assess whether it is probable for us to issue warrants to the placement agent based on whether it is probable for any PIPE Common Warrants to be exercised by the institutional investor. As of December 31, 2025 and 2024, we determined that the issuance of additional warrants to the placement agent is not yet probable; accordingly, the Placement Agent Contingent Warrants had no impact on the consolidated balance sheets.WarrantsThe following warrants were outstanding as of December 31, 2025 and 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:30.37%;margin:0pt;padding:0pt;">Shares of Common Stock Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:30.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for Outstanding Warrants</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:30.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.34%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">Expiration</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Warrant Issuance</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:12.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">April 2020 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 14</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">33,000.00 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">April 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;">January 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> 942</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"> 942</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">15,919.20 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">July 2026</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">October 2021 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 1,399</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">9,900.00 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">April 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;">November 2022 Series B (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> 16,176</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"> 16,176</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">0.00 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">December 2027</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">June 2024 Placement Agent (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> 11,564</td><td style="vertical-align:middle;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 11,564</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">54.0375 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">July 2026</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;">June 2024 Pre-Funded (4)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"> 130,000</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">0.011 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">No expiration date</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">June 2024 Series A (5)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 462,641</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">43.23 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">June 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 2024 Series B (6)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 693,962</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 693,962</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">43.23 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">September 2029 (latest date)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 722,644</td><td style="vertical-align:middle;white-space:nowrap;width:3%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,316,698</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table><div style="margin-top:4pt;"></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">These warrants expired unexercised in April 2025.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">These warrants have a cashless exercise provision whereby the warrants can be exercised for common stock for no additional consideration, which renders the $264 per warrant exercise price to be zero. </td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">These warrants are exercisable at any time from September 18, 2024 and expire in July 2026. </td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">These warrants are exercisable immediately and are considered to be perpetual warrants without any expiration date. In the second quarter of 2025, 130,000 pre-funded warrants were exercised for an equivalent number of shares of our common stock. Additionally, in the third quarter of 2024, 31,924 pre-funded warrants were exercised for an equivalent number of shares of our common stock.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(5)</td><td style="padding:0pt;">These warrants are exercisable at any time from September 18, 2024 and expired unexercised in June 2025.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(6)</td><td style="padding:0pt;">These warrants are exercisable at any time from September 18, 2024 and expire on the earlier of September 18, 2029 and the six months anniversary following the date on which we publicly announce the receiving of positive Phase 1, Part 3 data readout for DA-1726.</td><td style="width:36pt;"></td></tr></table><div style="margin-top:8pt;"></div>Stock-based compensationStock-based compensation expense was included in general and administrative and research and development as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:56.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:36.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;background:#cceeff;margin:0pt;padding:0pt;">General and administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;background:#cceeff;margin:0pt;padding:0pt;"> 305</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;background:#cceeff;margin:0pt;padding:0pt;"> 366</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Research and development</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 106</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 172</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total stock-based compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 411</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 538</td></tr></table>Stock-based award plansIn December 2019, in connection with a merger, we adopted the 2019 Equity Incentive Plan (the “2019 Plan”). Additionally, we adopted the 2021 Inducement Plan in November 2021 and the Amended and Restated 2022 Equity Incentive Plan (the “2022 Plan”) in December 2022. The 2019 Plan, 2021 Inducement Plan and 2022 Plan provide for the grant of stock options, restricted stock, RSUs and other equity awards of our common stock to employees, officers, consultants, and directors. Stock options granted under any of these plans expire within a period of not more than ten years from the date of grant. With the adoption of the 2022 Plan, no additional shares may be added to or granted from the 2019 Plan, and any shares related to forfeited awards are carryover to the 2022 Plan. In June 2024, in connection with the 2024 Annual Meeting of Stockholders, our stockholders approved an amendment (the “Amendment”) to our 2022 Plan. Pursuant to the terms and conditions of the Amendment, the 2022 Plan was amended to:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">automatically increase on January 1st of each year for a period of eight years commencing on January 1, 2025 and ending on (and including) January 1, 2032, the aggregate number of shares of common stock that may be issued pursuant to Awards (as defined in the 2022 Plan) to an amount equal to 10% of the Fully Diluted Shares (as defined in the 2022 Plan) as of the last day of the preceding calendar year, provided, however that the Board may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of common stock; and</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">increase the aggregate maximum number of shares of common stock that may be issued pursuant to the exercise of Incentive Stock Options (as defined in the 2022 Plan) to 1 million shares of the common stock plus the amount of any increase in the number of shares that may be available for issuance pursuant to the annual increase described above, but in no event more than 15 million shares of the common stock issued as incentive stock options.</td></tr></table><div style="margin-top:8pt;"></div>The following table summarizes the outstanding awards issued pursuant to our stock-based award plans and inducement grants as of December 31, 2025 and the remaining shares of common stock available for future issuance:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:26.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:26.31%;margin:0pt;padding:0pt;">Remaining shares of</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;">Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:26.31%;margin:0pt;padding:0pt;">common stock available</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Plan Name</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:26.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for future issuance</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;background:#cceeff;margin:0pt;padding:0pt;">2019 Plan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:26.31%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;margin:0pt;padding:0pt;">2022 Plan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"> 6,693</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;"> 29,295</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:26.31%;margin:0pt;padding:0pt;"> 167,471</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2021 Inducement Plan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:26.31%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 378</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:47.8%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,693</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 29,295</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:26.31%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 167,849</td></tr></table>For outstanding awards granted under the 2019 Plan and 2022 Plan as of December 31, 2025, unrecognized stock-based compensation costs totaled $0.2 million. The unrecognized stock-based costs are expected to be recognized as an expense over a weighted average period of 1.1 years.RSUsThe following table summarizes the status of our RSUs and related transactions for the period presented (in thousands, except share and per share amounts): <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:36.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:36.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vested and Deferred Release</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Aggregate</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Aggregate</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Fair</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Intrinsic</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;margin:0pt;padding:0pt;">As of January 1, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"> 12,849</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;margin:0pt;padding:0pt;"> 50.07</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"> 523</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"> 497</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 44.19</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"> 20</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;">Granted </td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> 10,918</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"> 50.18</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vested and released</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,855)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47.41</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 284</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;">As of December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> 15,912</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"> 51.46</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"> 355</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> 1,184</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 46.90</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"> 26</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;margin:0pt;padding:0pt;">Granted </td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"> 22,218</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;margin:0pt;padding:0pt;"> 7.05</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;">Vested and released</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> (6,693)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"> 53.58</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"> 70</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Forfeited/cancelled</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,142)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 30.04</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">As of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 29,295</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 18.86</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 247</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,082</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 43.85</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26</td></tr></table>Stock optionsThe following table summarizes the status of our outstanding and exercisable options and related transactions for the period presented (in thousands, except share and per share amounts):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:36.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:37.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Exercisable</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Weighted</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Weighted</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Common</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;margin:0pt;padding:0pt;">Weighted</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Common</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;">Weighted</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Average</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Remaining</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Remaining</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Contractual</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Contractual</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for Options</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Term (years)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for Options</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Term (years)</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;background:#cceeff;margin:0pt;padding:0pt;">As of January 1, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;background:#cceeff;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;background:#cceeff;margin:0pt;padding:0pt;"> 8.6</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;margin:0pt;padding:0pt;"> 408</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;background:#cceeff;margin:0pt;padding:0pt;"> 4,149.85</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;background:#cceeff;margin:0pt;padding:0pt;"> 8.6</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7.5</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7.5</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">As of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6.6</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6.6</td></tr></table>The aggregate intrinsic value of our outstanding and exercisable options was zero as of December 31, 2025 and 2024, and January 1, 2024. Grant date fair value of RSUs, stock options and warrantsWe estimated the grant date fair value of RSUs granted to employees, consultants, and directors based on the closing sales price of our common stock as reported on Nasdaq on the date of grant. We estimated the grant date fair value of stock options and warrants granted to employees, consultants, and directors using the Black-Scholes option pricing model. The following table sets forth the fair value per share of Placement Agent Warrants granted in 2024 and the assumptions used in the Black-Scholes option-pricing model:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:44.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;width:44.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:51.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Placement Agent</td></tr><tr style=""><td style="vertical-align:middle;width:44.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:24.15%;margin:0pt;padding:0pt;">Contingent</td></tr><tr style=""><td style="vertical-align:middle;width:44.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.13%;margin:0pt;padding:0pt;">Warrants</td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:24.15%;margin:0pt;padding:0pt;">Warrants</td></tr><tr style=""><td style="vertical-align:middle;width:44.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.13%;margin:0pt;padding:0pt;">Granted in</td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:24.15%;margin:0pt;padding:0pt;">Granted in</td></tr><tr style=""><td style="vertical-align:middle;width:44.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:24.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 2024</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:44.7%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average fair value </td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;background:#cceeff;margin:0pt;padding:0pt;"> 30.03</td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;background:#cceeff;margin:0pt;padding:0pt;"> 37.73</td><td style="vertical-align:bottom;white-space:nowrap;width:4.5%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:44.7%;margin:0pt;padding:0pt;">Expected stock price volatility </td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;margin:0pt;padding:0pt;">140.0</td><td style="vertical-align:bottom;width:4.51%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;width:4.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;margin:0pt;padding:0pt;">127.0</td><td style="vertical-align:bottom;width:4.5%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:44.7%;background:#cceeff;margin:0pt;padding:0pt;">Expected term (years)</td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;background:#cceeff;margin:0pt;padding:0pt;">2.1</td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;background:#cceeff;margin:0pt;padding:0pt;">5.7</td><td style="vertical-align:bottom;white-space:nowrap;width:4.5%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:44.7%;margin:0pt;padding:0pt;">Expected dividend yield </td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;width:4.51%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;width:4.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.14%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;width:4.5%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:44.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Risk-free interest rate </td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:15.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">4.63</td><td style="vertical-align:bottom;width:4.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;width:4.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.51%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:15.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">4.31</td><td style="vertical-align:bottom;width:4.5%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">%</td></tr></table>

9100000 400000

500000

861758

7.81

418651

7.799

0.011

2300000 0.03

106788

900000

1100000 2

20000000

10000000

18300000

700000

1000000

300707

43.23

161924

43.219

462640

693962

69396

0.011

43.23

0.0999 0.0499 0.0999 P61D 0.07 100000

11564

0.05

54.0375

1.25

300000

30.03 0.07 0.05

28915

54.0375

37.73

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:30.37%;margin:0pt;padding:0pt;">Shares of Common Stock Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:30.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for Outstanding Warrants</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:30.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.34%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">Expiration</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:28.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Warrant Issuance</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:12.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">April 2020 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 14</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">33,000.00 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">April 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;">January 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> 942</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"> 942</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">15,919.20 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">July 2026</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">October 2021 (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 1,399</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">9,900.00 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">April 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;">November 2022 Series B (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> 16,176</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"> 16,176</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">0.00 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">December 2027</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">June 2024 Placement Agent (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> 11,564</td><td style="vertical-align:middle;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 11,564</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">54.0375 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">July 2026</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;margin:0pt;padding:0pt;">June 2024 Pre-Funded (4)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;margin:0pt;padding:0pt;"> 130,000</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">0.011 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">No expiration date</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;margin:0pt;padding:0pt;">June 2024 Series A (5)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;margin:0pt;padding:0pt;"> 462,641</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;">43.23 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;">June 2025</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">June 2024 Series B (6)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 693,962</td><td style="vertical-align:bottom;white-space:nowrap;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 693,962</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;">43.23 </td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:25.28%;margin:0pt;padding:0pt;">September 2029 (latest date)</td></tr><tr style=""><td style="vertical-align:middle;white-space:nowrap;width:28.51%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:13.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 722,644</td><td style="vertical-align:middle;white-space:nowrap;width:3%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.69%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,316,698</td><td style="vertical-align:middle;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table><div style="margin-top:4pt;"></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">These warrants expired unexercised in April 2025.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">These warrants have a cashless exercise provision whereby the warrants can be exercised for common stock for no additional consideration, which renders the $264 per warrant exercise price to be zero. </td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">These warrants are exercisable at any time from September 18, 2024 and expire in July 2026. </td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">These warrants are exercisable immediately and are considered to be perpetual warrants without any expiration date. In the second quarter of 2025, 130,000 pre-funded warrants were exercised for an equivalent number of shares of our common stock. Additionally, in the third quarter of 2024, 31,924 pre-funded warrants were exercised for an equivalent number of shares of our common stock.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(5)</td><td style="padding:0pt;">These warrants are exercisable at any time from September 18, 2024 and expired unexercised in June 2025.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:27pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(6)</td><td style="padding:0pt;">These warrants are exercisable at any time from September 18, 2024 and expire on the earlier of September 18, 2029 and the six months anniversary following the date on which we publicly announce the receiving of positive Phase 1, Part 3 data readout for DA-1726.</td><td style="width:36pt;"></td></tr></table><div style="margin-top:8pt;"></div>

33000

942

15919.2

1399

9900

16176

11564

54.0375

130000

0.011

462641

43.23

693962

43.23

722644

1316698

264

130000

31924 P6M

Stock-based compensation expense was included in general and administrative and research and development as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:56.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:36.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;background:#cceeff;margin:0pt;padding:0pt;">General and administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;background:#cceeff;margin:0pt;padding:0pt;"> 305</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;background:#cceeff;margin:0pt;padding:0pt;"> 366</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Research and development</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 106</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 172</td></tr><tr style=""><td style="vertical-align:middle;width:56.7%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total stock-based compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 411</td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.19%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 538</td></tr></table>

305000

366000

106000

172000

411000

538000

P10Y

P8Y

0.10

1000000

15000000

6693

29295

167471

378

6693

29295

167849

200000

P1Y1M6D

The following table summarizes the status of our RSUs and related transactions for the period presented (in thousands, except share and per share amounts): <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:36.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:36.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vested and Deferred Release</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Aggregate</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Aggregate</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Fair</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;">Intrinsic</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;margin:0pt;padding:0pt;">As of January 1, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"> 12,849</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;margin:0pt;padding:0pt;"> 50.07</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"> 523</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"> 497</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 44.19</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"> 20</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;">Granted </td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> 10,918</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"> 50.18</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vested and released</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,855)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47.41</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 284</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;">As of December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> 15,912</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"> 51.46</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"> 355</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> 1,184</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 46.90</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"> 26</td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;margin:0pt;padding:0pt;">Granted </td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"> 22,218</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;margin:0pt;padding:0pt;"> 7.05</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;margin:0pt;padding:0pt;">Vested and released</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"> (6,693)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;margin:0pt;padding:0pt;"> 53.58</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"> 70</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Forfeited/cancelled</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,142)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 30.04</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:25.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">As of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 29,295</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.96%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 18.86</td><td style="vertical-align:bottom;white-space:nowrap;width:0.7%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 247</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,082</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.77%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 43.85</td><td style="vertical-align:bottom;white-space:nowrap;width:0.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26</td></tr></table>

12849

50.07

523000 497 44.19

20000

10918

50.18

7855

47.41

284000

15912

51.46

355000 1184 46.9

26000

22218

7.05

6693

53.58

70000

2142

30.04

29295

18.86

247000 3082 43.85

26000

The following table summarizes the status of our outstanding and exercisable options and related transactions for the period presented (in thousands, except share and per share amounts):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:36.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:37.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Exercisable</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Weighted</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Shares of</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Weighted</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Common</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;margin:0pt;padding:0pt;">Weighted</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Common</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;">Weighted</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Average</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Remaining</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Remaining</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;margin:0pt;padding:0pt;">Contractual</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;margin:0pt;padding:0pt;">Issuable</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;margin:0pt;padding:0pt;">Contractual</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for Options</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Term (years)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">for Options</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Term (years)</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;background:#cceeff;margin:0pt;padding:0pt;">As of January 1, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;background:#cceeff;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;background:#cceeff;margin:0pt;padding:0pt;"> 8.6</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;margin:0pt;padding:0pt;"> 408</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;background:#cceeff;margin:0pt;padding:0pt;"> 4,149.85</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;background:#cceeff;margin:0pt;padding:0pt;"> 8.6</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7.5</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7.5</td></tr><tr style=""><td style="vertical-align:bottom;width:24.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">As of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.52%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6.6</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 420</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.06%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.92%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,240.22</td><td style="vertical-align:bottom;white-space:nowrap;width:0.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6.6</td></tr></table>

420

4240.22

P8Y7M6D

408

4149.85

P8Y7M6D

420

4240.22

P7Y6M

420

4240.22

P7Y6M

420

4240.22

P6Y7M6D

420

4240.22

P6Y7M6D

30.03

37.73

1.40

1.27

P2Y1M6D

P5Y8M12D

0.0463

0.0431

The following table sets forth the significant segment expenses for our one reportable segment (in thousands) that are regularly provided to our CODM: <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:37.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;margin:0pt;padding:0pt;">Operating expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Research and development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;margin:0pt;padding:0pt;">Direct expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Vanoglipel (DA-1241) credits (costs) (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"> (845)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"> 9,959</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;margin:0pt;padding:0pt;">DA-1726 costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;margin:0pt;padding:0pt;"> 5,468</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;margin:0pt;padding:0pt;"> 9,397</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Other R&D costs (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"> 107</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"> 303</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;margin:0pt;padding:0pt;">Indirect expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Employee compensation and benefits costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"> 1,653</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"> 1,606</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Consulting expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 419</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 288</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total research and development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,802</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 21,553</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;margin:0pt;padding:0pt;">General and administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Legal and professional fees</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"> 3,338</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"> 2,864</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;margin:0pt;padding:0pt;">Consulting expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;margin:0pt;padding:0pt;"> 823</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;margin:0pt;padding:0pt;"> 1,512</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Employee compensation and benefits costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"> 1,797</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"> 1,659</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Other expenses (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 948</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,221</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total general and administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 6,906</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7,256</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total operating expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 13,708</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 28,809</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;margin:0pt;padding:0pt;">Loss from operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;margin:0pt;padding:0pt;"> (13,708)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;margin:0pt;padding:0pt;"> (28,809)</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total other income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 735</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,217</td></tr><tr style=""><td style="vertical-align:bottom;width:60.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Loss before income taxes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (12,973)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:15.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (27,592)</td></tr></table><div style="margin-top:4pt;"></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:45pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:6.75pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Includes a credit of $1.2 million recorded in 2025 in connection with the close-out of the clinical trial with the clinical research organization.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:8pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:45pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:6.75pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Includes clinical, non-clinical and preclinical services or other R&D expenses that are not attributable to a single product candidate.</td><td style="width:36pt;"></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:4pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:45.35pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;vertical-align:top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">Includes all other general and administrative expenses, such as insurance, software license fees, non-income state taxes, lease rental expenses, etc. </td><td style="width:36pt;"></td></tr></table>

-845000 9959000 5468000 9397000

107000

303000

1653000 1606000 419000 288000

6802000

21553000

3338000 2864000 823000 1512000 1797000 1659000

948000

1221000

6906000

7256000

13708000

28809000

-13708000

-28809000

735000

1217000

-12973000

-27592000

1200000

Our loss before income taxes is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80.01%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:64.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:64.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:33.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:64.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;width:15.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:middle;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;width:15.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">United States</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12,973)</td><td style="vertical-align:middle;width:3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27,592)</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Loss before income taxes </td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;width:12.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (12,973)</td><td style="vertical-align:middle;width:3%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;width:12.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (27,592)</td></tr></table>

-12973000

-27592000

-12973000

-27592000

The components of our income tax provision are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:64.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:64.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:33.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:64.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;width:15.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:middle;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;width:15.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;background:#cceeff;margin:0pt;padding:0pt;">Income tax (benefit) expense:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.2%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;margin:0pt;padding:0pt;">Deferred</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;background:#cceeff;margin:0pt;padding:0pt;">Federal</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;background:#cceeff;margin:0pt;padding:0pt;"> (2,683)</td><td style="vertical-align:middle;width:3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;background:#cceeff;margin:0pt;padding:0pt;"> (5,809)</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">State</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 270</td><td style="vertical-align:middle;width:3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,592)</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total deferred income tax (benefit) expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,413)</td><td style="vertical-align:middle;width:3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (8,401)</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;margin:0pt;padding:0pt;">Change in valuation allowance - Federal</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;margin:0pt;padding:0pt;"> 2,683</td><td style="vertical-align:middle;width:3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;margin:0pt;padding:0pt;"> 5,809</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Change in valuation allowance - State</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (270)</td><td style="vertical-align:middle;width:3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,592</td></tr><tr style=""><td style="vertical-align:bottom;width:64.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Provision for income taxes</td><td style="vertical-align:bottom;white-space:nowrap;width:1.95%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;width:3%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.22%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table>

-2683000

-5809000

270000

-2592000

-2413000

-8401000

-2683000

-5809000

270000

-2592000

A reconciliation between income tax computed at the statutory U.S. federal statutory rate and the consolidated effective tax rate is as follows (in thousands, except for percentages):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:52.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:52.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:46.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:21.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;background:#cceeff;margin:0pt;padding:0pt;">Income taxes at U.S. federal statutory rate </td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;background:#cceeff;margin:0pt;padding:0pt;"> (2,724)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;margin:0pt;padding:0pt;"> 21.0</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;background:#cceeff;margin:0pt;padding:0pt;"> (5,794)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;margin:0pt;padding:0pt;"> 21.0</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;margin:0pt;padding:0pt;">State income tax, net of federal benefit </td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;background:#cceeff;margin:0pt;padding:0pt;">Changes in valuation allowances</td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;background:#cceeff;margin:0pt;padding:0pt;"> 2,683</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;margin:0pt;padding:0pt;"> (20.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;background:#cceeff;margin:0pt;padding:0pt;"> 5,809</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;margin:0pt;padding:0pt;"> (21.1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;margin:0pt;padding:0pt;">Nontaxable and nondeductible items</td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;background:#cceeff;margin:0pt;padding:0pt;">Change in fair value of warrant liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;background:#cceeff;margin:0pt;padding:0pt;"> (47)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;margin:0pt;padding:0pt;"> 0.4</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;background:#cceeff;margin:0pt;padding:0pt;"> (62)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;margin:0pt;padding:0pt;"> 0.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Other </td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 88</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (0.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (0.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:52.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Effective tax rate </td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.96%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.13%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.55%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.99%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">%</td></tr></table>

-2724000

0.21

-5794000

0.21

2683000

-0.207

5809000

-0.211

-47000 0.004 -62000 0.003

88000

-0.007

47000

-0.002

The significant components of our deferred tax assets and liabilities are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:12.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:32.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31,</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:65.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;width:15.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:middle;width:2.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:middle;width:14.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;margin:0pt;padding:0pt;">Gross deferred income tax assets:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;">U.S. federal and state net operating loss ("NOL") carryforwards </td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.8%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 7,661</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.57%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 4,959</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;margin:0pt;padding:0pt;">Acquired intangibles </td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"> 2,890</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"> 3,000</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;">Net unrealized built-in loss (NUBIL) - 382</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 84</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;margin:0pt;padding:0pt;">Stock-based compensation</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"> 515</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"> 458</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;">Lease liability </td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 58</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 37</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;margin:0pt;padding:0pt;">Capitalized R&D expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"> 7,265</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"> 7,516</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 52</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 118</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">R&D credit carryforwards </td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 24</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 26</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;">Total gross deferred income tax assets</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 18,549</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> 16,114</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Valuation allowance</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (18,491)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (16,077)</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gross deferred tax assets, net of valuation allowance</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 58</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 37</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;margin:0pt;padding:0pt;">Gross deferred tax liabilities:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;margin:0pt;padding:0pt;">ROU asset</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> (58)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;margin:0pt;padding:0pt;"> (36)</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.57%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1)</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Gross deferred income tax liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (58)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (37)</td></tr><tr style=""><td style="vertical-align:bottom;width:65.07%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Deferred income tax assets, net</td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.8%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.8%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.57%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.37%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table>

7661000

4959000

2890000

3000000

84000

515000

458000

58000 37000 7265000 7516000

52000

118000

24000

26000

18549000

16114000

18491000

16077000

58000

37000

58000 36000

1000

58000

37000

18500000

16100000

33000000

18500000

100000

12100000

17400000

1 100800000 68600000 1200000

We have analyzed our filing positions in all significant U.S. federal, state, and local jurisdictions where it is required to file income tax returns, as well as open tax years in these jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state, and local tax examinations by tax authorities for years before 2022, although carryforward attributes that were generated prior to 2022 may still be adjusted upon examination by the taxing authorities if they either have been or will be used in a future period. No income tax returns are currently under examination by taxing authorities.

The following table sets forth the computation of basic and diluted loss per share of common stock (in thousands, except share and per share amounts):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:85%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:60.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:14.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:14.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:60.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:37.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr style=""><td style="vertical-align:bottom;width:60.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td></tr><tr style=""><td style="vertical-align:middle;width:60.63%;background:#cceeff;margin:0pt;padding:0pt;">Numerator:</td><td style="vertical-align:middle;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.09%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;width:60.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net loss</td><td style="vertical-align:middle;width:2.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12,973)</td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (27,592)</td></tr><tr style=""><td style="vertical-align:middle;width:60.63%;background:#cceeff;margin:0pt;padding:0pt;">Denominator:</td><td style="vertical-align:middle;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.09%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:middle;width:60.63%;margin:0pt;padding:0pt;">Weighted average shares of common stock, basic</td><td style="vertical-align:middle;width:2.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.62%;margin:0pt;padding:0pt;">1,766,026</td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.09%;margin:0pt;padding:0pt;">705,193</td></tr><tr style=""><td style="vertical-align:middle;width:60.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Effect of dilutive securities</td><td style="vertical-align:middle;width:2.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.62%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.09%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:middle;width:60.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Weighted average shares of common stock, diluted</td><td style="vertical-align:middle;width:2.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">1,766,026</td><td style="vertical-align:middle;white-space:nowrap;width:3.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:14.09%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">705,193</td></tr><tr style=""><td style="vertical-align:bottom;width:60.63%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Loss per share of common stock, basic and diluted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (7.35)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.09%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (39.13)</td></tr></table>

-12973000

-27592000

1766026

705193

1766026

705193

-7.35

-39.13

420

26213

14728

706468

1170522

The following table sets forth our financial assets and liabilities, subject to fair value measurements on a recurring basis, by level within the fair value hierarchy (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:90%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:26.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.2%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;width:35.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2025</td><td style="vertical-align:bottom;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;width:33.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2024</td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:7.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:7.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:6.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:6.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:6.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:6.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 3</td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;background:#cceeff;margin:0pt;padding:0pt;">Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Bank money market funds</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,519</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,519</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total assets at fair value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,519</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,519</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;background:#cceeff;margin:0pt;padding:0pt;">Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Warrant liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 136</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 136</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:26.57%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">Total liabilities at fair value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 136</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 136</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.4%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.7%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.27%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:5.63%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table>

8519000

136000 136000 361000 361000

136000

361000

12. Subsequent events 2026 public offeringIn January 2026, we closed on an underwritten public offering, pursuant to which we issued and sold, (i) 1,006,870 Class A Units, with each Class A Unit consisting of (A) one share of common stock, (B) 1.5 Series C Common Warrants to purchase 1.5 shares of common stock, and (C) 1.5 Series D Common Warrants to purchase 1.5 shares of common stock, at a price of $3.10 per Class A Unit, and (ii) 1,998,704 Class B Units, with each Class B Unit consisting of (A) one pre-funded warrant to purchase one share of common stock, (B) 1.5 Series C Common Warrants to purchase 1.5 shares of common stock, and (C) 1.5 Series D Common Warrants to purchase 1.5 shares of common stock, at a purchase price of $3.099 per Class B Unit. Each pre-funded warrant has an exercise price of $0.001 per share and is immediately exercisable and will expire when exercised in full. Each Series C Common Warrant and Series D Common Warrant has an exercise price of $3.10 per whole share of common stock, subject to certain adjustments, are immediately exercisable, and will expire on January 16, 2031 and January 16, 2028, respectively. Under the Series C Common Warrant and the Series D Common Warrant, we may not affect the exercise of any such warrants, and a holder will not be entitled to exercise any portion of any such warrants, which, upon giving effect to such exercise, would cause the aggregate number of shares of common stock beneficially owned by the holder (together with its affiliates) to exceed the beneficial ownership limitation contained therein. We received gross proceeds of $9.3 million, prior to deducting underwriting discounts and commissions and offering expenses. The Series D Common Warrants are callable at our option following the release of a positive data readout for our Phase 1b Part III clinical trial for DA-1726 via a widely disseminated press release, subject to satisfaction of certain conditions. The Series C and Series D Common Warrants are fixed priced and do not contain any variable pricing features or alternative exercise provisions. Subsequently, 1,630,964 pre-funded warrants have been exercised for an equivalent number of shares of common stock.At the market offeringIn March 2026, we sold 216,625 shares of common stock under the ATM Program and received net proceeds of $0.3 million, net of sales agent commission and related offering expenses.

1006870

1 1.5

1.5

3.1

1998704

1.5

3.099

0.001

3.1

9300000

1630964

216625

300000