R&D Expense Disclosure

Company response: The Company acknowledges the Staff’s Comment and respectfully advises the Staff that the Company tracks external research and development expenses on a clinical trial-specific basis while aggregating such expenses for its preclinical studies. The Company undertakes to provide disclosure substantially in the form presented below in its future filings with the Commission. Research and development expenses consist primarily of costs incurred for the discovery and development of our product candidates. Given the number of programs that we have and, because some of our clinical trials may combine more than one program, we track the external research and development costs incurred per clinical… response letter →

Company response: We have reviewed your letter requesting further disclosure of research and development expenses on a program-by-program basis for our development programs. As requested, we will further break out research and disclosure expenses on a program-by-program basis for our clinical development candidates. We will include this additional disclosure in Management’s Discussion and Analysis of Financial Condition and Results of Operation when we report our next Form 10-K for fiscal year ended December 31, 2025. response letter →