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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Pay vs Performance Disclosure
Net Income (Loss)	$ (10,028)	$ (10,649)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Related Party Transaction [Line Items]
Research and development related expense related party	$ 0	$ 0
Related Party
Related Party Transaction [Line Items]
Gross proceeds from private placement	$ 30,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Balance Sheet Components - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Accrued Liabilities, Current [Abstract]
Accrued research and development-related expenses	$ 1,311	$ 1,650
Accrued clinical trial-related expenses	222	268
Accrued professional services expenses	103	84
Accrued offering costs	75	0
Other	56	50
Total accrued liabilities	$ 1,767	$ 2,052

Segment Reporting - Summary of Disaggregated Amounts that Comprise Research and Development Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
External research and development expenses:
Clinical trials expenses	$ 755	$ 528
Consulting and outside services	748	632
Other external research and development	2,442	3,960
Total external research and development expenses	3,945	5,120
Internal research and development expenses:
Personnel related expenses	2,798	2,570
Total research and development expenses	$ 6,743	$ 7,690

Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions				1 Months Ended		3 Months Ended	12 Months Ended
	Apr. 09, 2026	Mar. 10, 2026	Apr. 06, 2023	Jul. 31, 2025	Jun. 30, 2025	Mar. 31, 2026	Dec. 31, 2023	Dec. 31, 2025	Aug. 15, 2024
Class of Stock [Line Items]
Common stock, shares authorized						500,000,000		500,000,000
Common stock, par value						$ 0.00001		$ 0.00001
Common Stock, Voting Rights						one
Preferred stock, shares authorized						10,000,000		10,000,000
Preferred stock, par value						$ 0.00001		$ 0.00001
Preferred stock, shares issued						0		0
Preferred stock, shares outstanding						0		0
Aggregate gross proceeds of common stock and pre funded warrants		$ 40.0
Private placement closing date		Mar. 10, 2026
Sales Agreement
Class of Stock [Line Items]
Percentage of maximum commissions to be paid to agent of gross proceeds of sale			3.00%
Rights Agreement
Class of Stock [Line Items]
Common stock, par value									$ 0.00001
Stock issued, price per share									6.5
Preferred stock, par value									$ 0.00001
Rights agreement, description						In connection with the Rights Agreement, a dividend was declared of one preferred stock purchase right (individually, a “Right” and collectively, the “Rights”) for each share of the common stock, par value $0.00001 per share, of the Company outstanding at the close of business on August 29, 2024 (the “Record Date”). Each Right entitles the registered holder thereof, after the Rights become exercisable and until August 15, 2025 (or the earlier redemption, exchange or termination of the Rights), to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock, par value $0.00001 per share, (the “Series A Preferred”), of the Company at a price of $6.50 per one one-thousandth of a share of Series A Preferred, subject to adjustment.
Preferred stock dividend for each share of common stock									1
Dividend expiration date									Aug. 15, 2025
Exchange Agreements
Class of Stock [Line Items]
Exchange of common stock for pre-funded warrants, shares					2,952,000
Exchange of common stock for warrants settled, shares				152,000
Exercise price					$ 0.00001
Beneficial ownership limitation minimum percentage of outstanding common stock					9.99%
Beneficial ownership limitation maximum percentage to be increased upon 61 days prior written notice					19.99%
Subsequent Event \| 2026 Sales Agreement
Class of Stock [Line Items]
Percentage of maximum commissions to be paid to agent of gross proceeds of sale	3.00%
At the Market Offering \| Sales Agreement
Class of Stock [Line Items]
Aggregate gross sales			$ 100.0
Common stock issued and sold						0	2,502,000
Common stock, shares sold						0	2,502,000
Net proceeds from issuance of common stock							$ 19.1
At the Market Offering \| Subsequent Event \| 2026 Sales Agreement
Class of Stock [Line Items]
Aggregate gross sales	$ 80.0
Private Placement
Class of Stock [Line Items]
Net proceeds from issuance of common stock		$ 21.9
Net proceeds from issuance of pre-funded warrants		$ 15.4
Private Placement \| Common Stock
Class of Stock [Line Items]
Stock issued, price per share		$ 2.85
Stock issued during period, shares		8,245,611				8,245,611
Private Placement \| Pre-funded Warrants
Class of Stock [Line Items]
Purchase price		$ 2.84999
Exercise price		$ 0.00001
Beneficial ownership limitation minimum percentage of outstanding common stock		9.99%
Beneficial ownership limitation maximum percentage to be increased upon 61 days prior written notice		19.99%
Private Placement \| Pre-funded Warrants \| Maximum
Class of Stock [Line Items]
Issuance of warrants to purchase common stock		5,789,493

Net Loss Per Share - Summary of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net loss attributable to common stockholders	$ (10,028)	$ (10,649)
Denominator:
Weighted-average common shares outstanding used to calculate net loss per share attributable to common stockholders, basic	34,059,876	30,053,659
Weighted-average common shares outstanding used to calculate net loss per share attributable to common stockholders, diluted	34,059,876	30,053,659
Net loss per share attributable to common stockholders, basic	$ (0.29)	$ (0.35)
Net loss per share attributable to common stockholders, diluted	$ (0.29)	$ (0.35)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Item 5. Other Information. On March 11, 2026, Eric Easom, our Chief Executive Officer and a member of our board of directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 450,000 shares of our common stock until March 1, 2027. During the fiscal quarter ended March 31, 2026, none of our other directors or officers (as defined in Section 16 of the Securities Exchange Act of 1934, as amended) adopted, modified, or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement,” as defined in Item 408(c) of Regulation S-K.
Eric Easom
Trading Arrangements, by Individual
Name	Eric Easom
Title	Chief Executive Officer and a member of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 11, 2026
Expiration Date	March 1, 2027
Aggregate Available	450,000
Other Directors or Officers [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 53,487	$ 19,941
Short-term investments	31,801	38,060
Prepaid expenses and other current assets	2,203	1,936
Total current assets	87,491	59,937
Long-term investments	0	2,013
Total assets	87,491	61,950
Current liabilities:
Accounts payable	2,615	3,021
Accrued compensation	613	2,418
Accrued liabilities	1,767	2,052
Other current liabilities	567	1,229
Total current liabilities	5,562	8,720
Other non-current liabilities	170	170
Total liabilities	5,732	8,890
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $0.00001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock, $0.00001 par value; 500,000,000 shares authorized at March 31, 2026 and December 31, 2025; 35,985,599 and 27,413,171 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively
Additional paid-in capital	332,742	293,953
Accumulated other comprehensive (loss) gain	(5)	57
Accumulated deficit	(250,978)	(240,950)
Total stockholders' equity	81,759	53,060
Total liabilities and stockholders' equity	$ 87,491	$ 61,950

Equity (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Shares of Common Stock Reserved for Future Issuance

Shares of common stock reserved for future issuance, on an as-if-converted basis, as of March 31, 2026 and December 31, 2025, consisted of the following:


	March 31,		December 31,
	2026		2025
Stock options, issued and outstanding		6,443,394		5,466,222
Pre-funded warrants		8,741,493		2,952,000
Unvested restricted stock units		1,275,412		856,160
Stock options, authorized for future issuance		192,676		783,106
ESPP, authorized for future issuance		1,013,728		775,882
Total		17,666,703		10,833,370

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted net loss per share

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026			2025
Numerator:
Net loss attributable to common stockholders	$	(10,028	)	$	(10,649	)
Denominator:
Weighted-average common shares outstanding used to calculate net loss per share attributable to common stockholders, basic and diluted		34,059,876			30,053,659
Net loss per share attributable to common stockholders, basic and diluted	$	(0.29	)	$	(0.35	)

Schedule of potentially dilutive securities that were not included in the diluted per share

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	March 31,
	2026		2025
Options issued and outstanding		6,443,394		5,740,125
Unvested RSUs		1,275,412		923,664
Total		7,718,806		6,663,789

Collaboration, License and Other Agreements - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2019	Mar. 31, 2026	Mar. 31, 2025
Collaboration, License And Other Agreements [Line Items]
Research and development		$ 6,743,000	$ 7,690,000
Anacor Licensing Agreement
Collaboration, License And Other Agreements [Line Items]
Number of days convenience upon written notice until first regulatory approval.	90 days
Number of days convenience upon written notice thereafter	1 year
Payment of non-refundable upfront payment	$ 2,000,000
Research and development		$ 0	$ 0
Aggregate maximum payments upon achievement of development milestones	2,000,000
Aggregate maximum payments upon achievement of commercial and sales threshold milestones	$ 125,000,000
Royalty percentage	50.00%
Number of years, sales royalty required to be paid	15 years
Brii Biosciences Agreement
Collaboration, License And Other Agreements [Line Items]
Aggregate maximum payments upon achievement of commercial and sales threshold milestones	$ 150,000,000
Number of years, sales royalty required to be paid	15 years
Upfront payment received	$ 0
Brii Biosciences Agreement \| Maximum
Collaboration, License And Other Agreements [Line Items]
Aggregate development and regulatory milestones eligible to receive	$ 15,000,000

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”).
Unaudited Interim Condensed Financial Information	Unaudited Interim Condensed Financial Information The accompanying condensed balance sheet as of March 31, 2026, the condensed statements of operations and comprehensive loss and the condensed statements of stockholders’ equity for the three months ended March 31, 2026 and 2025, and the condensed statements of cash flows for the three months ended March 31, 2026 and 2025 are unaudited. The unaudited interim condensed financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2026, the results of its operations for the three months ended March 31, 2026 and 2025 and its cash flows for the three months ended March 31, 2026 and 2025. The financial data and other information disclosed in these notes related to the three months ended March 31, 2026 and 2025 are also unaudited. The results for the three months ended March 31, 2026 are not necessarily indicative of results to be expected for the year ending December 31, 2026, any other interim periods, or any future year or period. The balance sheet as of December 31, 2025 included herein was derived from the audited financial statements as of that date. Certain disclosures have been condensed or omitted from the interim condensed financial statements. Accordingly, these unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements as of and for the year ended December 31, 2025, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission (“SEC”), dated March 17, 2026.
Risks and Uncertainties	Risks and Uncertainties Liquidity The Company’s operations have historically been primarily financed through the issuance and sale of redeemable convertible preferred stock and common stock. Since inception, the Company has incurred significant losses and negative net cash flows from operations. During the three months ended March 31, 2026 and 2025, the Company incurred a net loss of $10.0 million and $10.6 million, respectively, and had cash flows used in operating activities of $12.1 million and $10.6 million, respectively. The Company has an accumulated deficit of $251.0 million and $241.0 million as of March 31, 2026 and December 31, 2025, respectively, and will require substantial additional capital for research and development activities. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its product candidates currently in development. As of March 31, 2026, the Company had cash, cash equivalents, and investments of $85.3 million. Management believes that its cash, cash equivalents, and investments as of March 31, 2026 will be sufficient to fund its current operating plan through at least twelve months from the issuance date of these condensed financial statements. Future capital requirements will depend on many factors, including the timing and extent of spending on research and development, including costs for preclinical and nonclinical studies, clinical trials, and clinical trial and material manufacturing. There can be no assurance that, in the event the Company requires additional financing, such financing will be available at terms acceptable to the Company, if at all. Failure to generate sufficient cash flows from operations, raise additional capital, and reduce discretionary spending should additional capital not become available could have a material adverse effect on the Company’s ability to achieve its intended business objectives.
Segments	Segments The Company operates and manages its business as one reportable and operating segment. For financial information related to the Company's one operating segment, see Note 12 - Segment Reporting.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to research and development accruals, fair value of assets and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.
Research and Development Expenses	Research and Development Expenses All research and development costs, including work performed by third parties, are expensed as incurred. Research and development costs consist of salaries and other personnel-related expenses, including associated stock-based compensation, consulting fees, and facility costs, as well as fees paid to other entities that conduct certain research and development activities on behalf of the Company. Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods are received or services are rendered. As part of the process of preparing its financial statements, the Company estimates its accrued expenses. This process involves reviewing quotations and contracts, identifying services that have been performed on the Company’s behalf and estimating the level of services performed and the associated cost incurred for services for which the Company has not yet been invoiced or otherwise notified of the actual cost. The majority of the Company’s service providers invoice monthly in arrears for services performed or when contractual milestones are met. The Company makes estimates of its accrued expenses at the end of each reporting period based on the facts and circumstances known to the Company at that time. The significant estimates in the Company’s accrued research and development expenses relate to expenses incurred with respect to contract manufacturing and clinical and other research organizations, academic research centers, and other vendors in connection with research and development activities for which the Company has not yet been invoiced.
Stock-Based Compensation	Stock-Based Compensation The Company measures and recognizes compensation expense for equity-classified stock-based awards made to employees, directors and non-employees based on the grant date estimated fair value of each award. Compensation expense for employee and director awards is recognized on a straight-line basis over the requisite service period which is generally the vesting period for the entire award. Expense is adjusted for forfeitures as they occur. Compensation expense for non-employee awards is recognized in the same period and manner as if the Company had paid cash for the goods or services provided. The valuation model used for calculating the fair value of stock options for stock-based compensation expense is the Black-Scholes option-pricing model (the “Black-Scholes model”). The Black-Scholes model requires management to make assumptions and judgments about the variables used in the calculation, including the expected term, the expected volatility of common stock, an assumed risk-free interest rate, and expected dividends the Company may pay. Management uses the simplified calculation (based on the mid-point between the vesting date and the end of the contractual term) of the expected term for its stock options as the Company has concluded that its stock option history does not provide a reasonable basis upon which to estimate expected term. Through November 2025, volatility is based on an average of the historical volatilities of the common stock of entities with characteristics similar to that of the Company. Beginning in December 2025, after sufficient trading data of the Company’s common stock on the Nasdaq Global Select Market became available, the Company adopted a blended volatility methodology that combines the Company’s historical volatility with that of a peer group, weighting the volatility of its peer group for the amount of time prior to the Company's initial public offering in March 2022 so that the blended volatility term equals the expected term of the related stock-based award. The Company will continue to utilize this blended volatility methodology until sufficient historical trading data of the Company's common stock is available. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company uses an assumed dividend yield of zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. For option awards that contain performance conditions, compensation cost is recognized in the period in which it becomes probable that the performance condition will be satisfied. For option awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense would be recognized until the performance-based vesting condition is achieved.
Warrants	Warrants The Company accounts for warrants as equity-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in the Financial Accounting Standards Board (“FASB”) ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). This assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. Finally, the Company determines if the warrants meet the definition of a derivative based on their contractual terms. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. The Company also evaluates if changes in contractual terms or other considerations would result in the reclassification of outstanding warrants from stockholders’ equity to liabilities (or vice versa).
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which consist of money market funds, are stated at fair value. As of March 31, 2026 and December 31, 2025, the Company had cash and cash equivalents of $53.5 million and $19.9 million, respectively.
Investments	Investments Investments consist of U.S. Treasury securities, commercial paper, U.S. Government agency securities, and corporate debt securities. All of the Company’s investments are classified as available-for-sale and are carried at estimated fair values and reported as cash equivalents, short-term investments or long-term investments. Management determines the appropriate classification of the investments at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. Investments with contractual maturities greater than 12 months are considered long-term investments. The cost of investments sold, if any, is based on the specific identification method. Unrealized gains and losses on available-for-sale investments are reported in accumulated other comprehensive (loss) gain as a separate component of stockholders’ equity (deficit). For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value and recognized in other income (expense) in the statements of operations and comprehensive loss. If neither criterion is met, the Company evaluates whether the decline in fair value is related to credit-related factors or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. Credit-related impairment losses, limited by the amount that the fair value is less than the amortized cost basis, are recorded through an allowance for credit losses in other income, net. Any unrealized losses from declines in fair value below the amortized cost basis as a result of non-credit factors are recognized in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity, along with unrealized gains. Realized gains and losses and declines in fair value, if any, on available-for-sale securities are included in other income, net in the statements of operations and comprehensive loss. For purposes of identifying and measuring credit-related impairments, the Company’s policy is to exclude applicable accrued interest from both the fair value and amortized cost basis of the related security. The Company has elected to write-off uncollectible accrued interest receivable balances in a timely manner, which is defined by the Company as when interest due becomes 90 days delinquent. The accrued interest write-off will be recorded by reversing interest income. Accrued interest receivable is recorded to prepaid expenses and other current assets on the Company’s unaudited interim condensed balance sheets. As of March 31, 2026 and December 31, 2025, the Company had investments of $31.8 million and $40.1 million, respectively.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and investments. The Company’s cash is invested through financial institutions in the United States. The Company’s investments consist of debt securities, issued by highly rated corporate entities or the U.S. government, and asset-backed securities. The Company’s exposure to any individual corporate entity is limited by its investment policy. Deposits have and will continue to exceed federally insured limits. The Company invests its cash equivalents in highly rated money market funds. The Company has not experienced any credit losses in such accounts. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash to the extent recorded on the condensed balance sheets. Through March 31, 2026, the Company had no off-balance sheet concentrations of credit risk.
Government Contract	Government Contract In September 2022, the Company received a cost-reimbursement contract award under which the Company was eligible to receive up to $17.8 million from the U.S. National Institute of Allergy and Infectious Diseases (“NIAID”) to support preclinical, Phase 1 studies and other activities to enable advancement of epetraborole into late-stage development for acute systemic melioidosis and other biothreat pathogens. In April 2025, the Company entered into a contract modification with NIAID for a $0.5 million increase and term extension to an existing NIAID contract option. In June 2025, as part of a U.S. Government cost efficiency initiative under a 2025 Executive Order, the Company was notified that the NIAID will not exercise certain remaining options under the contract, resulting in a total $9.0 million reduction to the $18.3 million contract, for a total cumulative contract funding of up to $9.3 million. With the completion of pivotal work under the contract, including the manufacture of drug product, the Company is engaged with federal agencies to fund a Phase 2 proof-of-concept clinical trial for acute melioidosis. This project will be funded in whole with Federal funds from the NIAID, National Institutes of Health, and Department of Health and Human Services Contract No. 75N93022C00059. Accounting for this contract does not fall under ASC 606, Revenue from Contracts with Customers, as NIAID will not benefit directly from the advancement of epetraborole. As there was no authoritative guidance under U.S. GAAP on accounting for government assistance to for-profit business entities at the inception of the NIAID contract, the Company applied International Accounting Standards (IAS) 20, Accounting for Government Grants and Disclosure of Government Assistance, by analogy when accounting for the NIAID contract payments to the Company. The Company has not yet adopted Accounting Standards Update 2025-10, which was announced in December 2025 to address accounting for government assistance to for-profit business entities (see Recent Accounting Pronouncements Not Yet Adopted). Under IAS 20, government contract proceeds are recognized when there is reasonable assurance the conditions of the contract will be met and the contract funding will be received. For the NIAID contract, this occurs after the qualifying expenses related to the contract have been incurred, or the Company concludes the conditions of the contract have been substantially met. The income related to the reimbursement of operating expenses is then recorded as a reduction of those expenses (see Note 4 - Funding Arrangements).
Grant Agreements	Grant Agreements The Company recognizes grant proceeds from the Gates Foundation, formerly the Bill and Melinda Gates Foundation, in accordance with ASC 958-605, Not-for-Profit Entities - Revenue Recognition. When qualifying costs are incurred and the conditions of the grant agreement have been met, the Company records a reduction to the research and development expenses incurred and a corresponding grant receivable. Cash received from grants in advance of incurring qualifying costs is recorded as a liability and recognized as a reduction to the qualifying research and development expenses incurred (see Note 4 - Funding Arrangements).
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss and certain changes in stockholders’ equity that are excluded from net loss. The Company’s other comprehensive loss consists of net changes in unrealized gains and losses on its available-for-sale investments. For the three months ended March 31, 2026 and 2025, the Company had an insignificant net unrealized loss and gain on available-for-sale investments, respectively.
Net Loss Per Share	Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, stock options, unvested restricted stock units (“RSUs”), common stock subject to repurchase related to unvested early exercise of stock options, and shares committed under the Company’s 2022 Employee Stock Purchase Plan (“ESPP”) are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities. The Company also considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of early exercised shares subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. In June 2025, the Company entered into exchange agreements with existing stockholders to exchange 2,952,000 shares of the Company’s common stock for pre-funded warrants (the “2025 Pre-Funded Warrants”) for an equivalent number of shares of common stock at a nominal exercise price of $0.00001 per share. In March 2026, the Company entered into a Securities Purchase Agreement which provided for the sale and issuance by the Company of an aggregate of: (i) 8,245,611 shares of the Company’s common stock and (ii) pre-funded warrants to purchase up to an aggregate of 5,789,493 shares of common stock (the “2026 Pre-Funded Warrants”). The shares of common stock underlying the 2026 Pre-Funded Warrants and 2025 Pre-Funded Warrants are considered outstanding for the purposes of computing net loss per share because the shares may be issued for little or no consideration, they are fully vested and the Warrants are immediately exercisable upon their issuance date. Because the Company has reported a net loss for all periods presented, diluted net loss per share is the same as basic net loss per share for those periods because the impact of potentially dilutive securities would be anti-dilutive.
JOBS Act Accounting Election	JOBS Act Accounting Election The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. The Company may take advantage of these provisions until December 2027, unless the Company ceases to be an emerging growth company at an earlier date. As a result, these financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40), Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments, replacing the treasury stock method with the if-converted method for calculation of diluted earnings per share, and removing certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception. ASU 2020-06 was effective for annual periods beginning after December 15, 2023, but was not applicable to the Company at that time. The Company adopted ASU 2020-06 on June 17, 2025 using the modified retrospective method in connection with accounting for the pre-funded warrant exchange (See Note 8 – Equity, Issuance of Pre-Funded Warrants in Exchange for Common Stock). Adoption of this standard did not have any impact on the Company's financial statements or net loss per share amounts. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires enhanced annual disclosures regarding the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company adopted ASU 2023-09 for the year ended December 31, 2025, prospectively. Newly required disclosures were included in Note 10 - Income Taxes in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC, dated March 17, 2026. On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act (the “OBBBA”), which includes several changes to U.S. federal income tax law, including the temporary and permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017. Adoption of the relevant provisions of the OBBBA did not have a material impact on the Company's financial statements and related disclosures. The Company will continue to monitor the impact of the OBBBA in future periods.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise noted, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its condensed financial statements and disclosures. As an “emerging growth” company, it has been the Company’s intention to take advantage of certain temporary exemptions from various reporting requirements, as well as taking advantage of additional transitional relief. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, included in certain expense captions in the Statements of Operations, as well as qualitatively describe remaining amounts included in those captions. ASU 2024-03 will also require the Company to disclose both the amount and the Company’s definition of selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is evaluating the impact of this standard on its financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832) (“ASU 2025-10”), which adds guidance to ASC 832, Government Assistance, on the recognition, measurement, and presentation of government grants. ASU 2025-10 is effective for fiscal years, including interim reporting periods within those fiscal years, beginning after December 15, 2028 and may be adopted on a modified prospective or modified or full retrospective basis. Early adoption is permitted. The Company is evaluating the impact of this standard on its financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (“ASU 2025-11”), which clarifies guidance on interim reporting. ASU 2025-11 is effective for interim periods within annual reporting periods beginning after December 15, 2027 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is evaluating the impact of this standard on its financial statements and related disclosures.

Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 3. Fair Value Measurements

The Company records certain financial assets and liabilities at fair value. The accounting guidance for fair value provides a framework for measuring fair value, clarifies the definition of fair value, and expands disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

•

Level 1: Inputs which include quoted prices in active markets for identical assets and liabilities.

•

Level 2: Inputs other than Level I that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company’s primary financial instruments include cash, cash equivalents and investments, accounts payable, and accrued liabilities. The carrying amounts of the Company’s financial instruments, other than cash equivalents and investments, approximate fair value due to their relatively short maturities.

The following table presents the Company’s financial assets, which consist of cash equivalents and investments classified as available-for-sale investments, that are measured at fair value on a recurring basis (in thousands):


	March 31, 2026
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	Level 1	$	35,853	$	—	$	—		$	35,853
Short-term investments:
U.S. Treasury securities	Level 1		16,774		14		(1	)		16,787
U.S. Treasury securities	Level 2		2,480		2		—			2,482
Commercial paper	Level 2		7,096		—		(12	)		7,084
U.S. Government agency securities	Level 2		491		—		—			491
Corporate debt securities	Level 2		4,965		—		(8	)		4,957
Total		$	67,659	$	16	$	(21	)	$	67,654


	December 31, 2025
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	Level 1	$	7,104	$	—	$	—		$	7,104
Commercial paper	Level 2		547		—		—			547
Short-term investments:
U.S. Treasury securities	Level 1		22,792		49		—			22,841
U.S. Treasury securities	Level 2		3,956		8		—			3,964
Commercial paper	Level 2		6,812		2		(4	)		6,810
U.S. Government agency securities	Level 2		487		1		—			488
Corporate debt securities	Level 2		3,958		—		(1	)		3,957
Long-term investments:
U.S. Treasury securities	Level 1		1,506		2		—			1,508
Corporate debt securities	Level 2		505		—		—			505
Total		$	47,667	$	62	$	(5	)	$	47,724

The Company classifies its money market funds and U.S. Treasury securities, which are valued based on quoted market prices in active markets with no valuation adjustment, as Level 1 assets within the fair value hierarchy.

The Company classifies its investments in commercial paper, corporate debt securities, U.S. government agency securities and U.S. Treasury securities as Level 2 within the fair value hierarchy. The fair values of these investments are estimated by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data and other observable inputs. There were no transfers of financial instruments between valuation levels during the three months ended March 31, 2026.

As of March 31, 2026, none of the Company’s available-for-sale investments that were in an unrealized loss position had been in an unrealized loss position for more than 12 months. During the three months ended March 31, 2026 and 2025, the Company did not sell any available-for-sale investments.

As of March 31, 2026, the Company’s short-term investments had maturities of less than one year from the balance sheet date. As of December 31, 2025, the Company’s long-term investments had maturities of between one and two years from the balance sheet date.

The Company does not intend to sell the securities in an unrealized loss position and does not expect they will be required to sell the securities before recovery of the unamortized cost basis. Additionally, the Company evaluated its securities for credit losses and considered the decline in market value to be primarily attributable to current economic and market conditions and not credit related. Accordingly, no allowance for credit losses had been recognized as of March 31, 2026 and December 31, 2025. During the three months ended March 31, 2026 and 2025, the Company did not recognize any impairment losses related to investments.

As of March 31, 2026 and December 31, 2025, the Company had accrued interest receivable of $0.3 million and $0.4 million, respectively, which was included in prepaid expenses and other current assets on the balance sheets.

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Summary of Disaggregated Amounts that Comprise Research and Development Expenses

In addition to the significant expense categories included within net loss presented on the statements of operations and comprehensive loss, see below for disaggregated amounts that comprise research and development expenses:


	Three Months Ended March 31,
	2026		2025
External research and development expenses:
Clinical trials expenses	$	755	$	528
Consulting and outside services		748		632
Other external research and development (1)		2,442		3,960
Total external research and development expenses		3,945		5,120

Internal research and development expenses:
Personnel related expenses		2,798		2,570
Total research and development expenses	$	6,743	$	7,690

(1) Chemistry manufacturing controls, research and preclinical studies and other miscellaneous expenses.

Equity Incentive Plan and Stock-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plan and Stock-Based Compensation

Note 9. Equity Incentive Plan and Stock-Based Compensation

2022 Equity Incentive Plan

The Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”) effective upon the closing of the IPO, which provides for the granting of incentive stock options (“ISOs”) to the Company's employees, and for the grant of nonstatutory stock options (“NSOs”), stock appreciation rights, restricted stock awards (“RSAs”), RSUs, performance awards, and other forms of awards to employees, directors, and consultants. As of March 31, 2026, no stock appreciation rights or performance awards were issued.

The Company initially reserved for issuance 1,870,000 new shares of common stock pursuant to the 2022 Plan. The Company’s Amended and Restated 2017 Equity Incentive Plan (the “2017 Plan”) was terminated in 2022; however, shares underlying outstanding stock awards granted under the 2017 Plan will continue to be governed by the 2017 Plan. Shares available under the 2017 Plan were added to the available shares in the 2022 Plan. Shares underlying outstanding stock awards granted under the 2017 Plan that expire or are repurchased by, forfeited to, cancelled or withheld by the Company will also be reserved for issuance under the 2022 Plan.

The initial number of shares of the Company’s common stock that may be issued under the 2022 Plan will not exceed 4,423,920 shares of the Company's common stock, which is the sum of (i) 1,870,000 new shares, plus (ii) 2,553,920 shares related to the 2017 Plan. In addition, the number of shares of the Company’s common stock reserved for issuance under the 2022 Plan will automatically increase on January 1 of each year for a period of ten years, beginning on January 1, 2023 and continuing through January 1, 2032, in an amount equal to (1) 4% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year, or (2) a lesser number of shares determined by the Company's board of directors no later than December 31 of the immediately preceding year. Accordingly, effective January 1, 2026, the number of shares in the 2022 Plan increased by 1,096,526 shares, representing 4% of the prior year end’s common stock outstanding. The maximum number of shares of the Company's common stock that may be issued on the exercise of stock options or vesting of RSUs under the 2022 Plan is 13,271,760 shares.

Since the date of incorporation and through March 31, 2026, the Company has issued stock options, RSUs and RSAs to its employees, directors, and consultants. As of March 31, 2026, 192,676 shares of common stock remained available for future issuance under the 2022 Plan.

ISOs granted to newly hired employees under the 2022 Plan generally vest 25% after the completion of 12 months of service, and the balance vests in equal monthly installments over the next 36 months of service and expire ten years from the grant date, unless subject to provisions regarding 10% stockholders. ISOs granted to existing employees generally vest ratably over a 48-month period of service and expire ten years from the grant date. NSOs vest in accordance with the terms of the specific agreement under which the options were provided and expire ten years from the date of grant. RSUs granted to employees generally vest annually over a two to four year period of service and expire ten years from the grant date. RSAs and RSUs granted to non-employees generally vest at the time of grant and expire ten years from the grant date.

Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed statements of operations and comprehensive loss during the three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended March 31,
	2026		2025
Research and development expenses	$	604	$	865
General and administrative expenses		856		1,182
Total	$	1,460	$	2,047

Stock Option Activity

A summary of the stock option activity is as follows:


	Total Options Outstanding			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2025		5,466,222		$	6.56		7.21	$	170
Granted		1,008,050			1.05
Exercised		(8,119	)		3.00
Forfeited/expired		(22,759	)		10.36
Vested and expected to vest at March 31, 2026		6,443,394		$	5.69		7.11	$	7,321
Exercisable as of March 31, 2026		4,232,659		$	7.46		6.25	$	2,959

As of March 31, 2026, there was unrecognized stock-based compensation expense of $3.8 million related to unvested stock options which the Company expects to recognize over a weighted-average period of 2.2 years.

Weighted-average grant-date fair value of the options granted during the three months ended March 31, 2026 was $0.88 per share.

Option Repricing

On March 19, 2026 (the “Repricing Date”), in accordance with the 2017 Plan and the 2022 Plan (together, the “Plans”), the Board approved a stock option repricing (the “Option Repricing”), effective as of the Repricing Date, of all outstanding stock options with an exercise price greater than $3.91 granted under the Plans prior to the Repricing Date (the “Eligible Options”), including stock options held by the Company’s named executive officers and non-employee members of the Board. The Board believes that the Option Repricing with the Premium End Date (as defined below) is in the best interests of the Company, as the amended stock options will provide added incentives to retain and motivate Plan participants without incurring the stock dilution resulting from significant additional equity grants to the eligible participants or significant additional cash expenditures resulting from additional cash compensation.

Pursuant to the Option Repricing, the exercise price of each Eligible Option was reduced to $3.91 per share, the closing price of the Company’s common stock on the Repricing Date. To the extent an Eligible Option is exercised prior to the Premium End Date, or the eligible holder’s services with the Company terminates prior to the Premium End Date, the holder will be required to pay the original exercise price per share of the Eligible Options. The “Premium End Date” is the earliest of (i) September 19, 2027 (the “Retention Period”), (ii) the date of a change in control, or (iii) the eligible holder’s death or disability. Except for the reduction in the exercise prices of the Eligible Options as described above, the Eligible Options retain their existing terms and conditions as set forth in the Plans and the applicable award agreements.

The Option Repricing resulted in $0.4 million of incremental stock compensation expense for both vested and unvested options, which was calculated using the Black-Scholes option-pricing model, and will be recognized on a straight-line basis over the remaining Retention Period of the repriced options.

Of the incremental compensation cost, an immaterial amount was recognized during the three months ended March 31, 2026.

RSU Activity

RSUs entitle the holder to receive shares of the Company’s common stock upon vesting. The fair value of RSUs is based upon the closing sales price of the Company’s common stock on the grant date.

A summary of the RSU activity is as follows:


`	Number of Units			Weighted-Average Grant Date Fair Value
Unvested at December 31, 2025		856,160		$	1.72
Issued		701,665			1.05
Vested and released		(282,413	)		1.96
Unvested at March 31, 2026		1,275,412		$	1.29

As of March 31, 2026, there was unrecognized stock-based compensation expense of $1.3 million related to unvested RSUs which the Company expects to recognize over a weighted-average period of 3.1 years.

2022 Employee Stock Purchase Plan

The ESPP has two components: a component that is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code (the “423 Component”) and a component that is not intended to qualify (the “Non-423 Component”). The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their eligible compensation. At the end of each offering period, employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock at the beginning of the offering period or at the end of each applicable purchase period.

Subject to adjustment in the case of certain capitalization events, 187,000 shares of the Company’s common stock were available for purchase at the adoption of the ESPP. Pursuant to the ESPP, the annual share increase pursuant to the evergreen provision is determined based on the least of (i) 1% of the Company’s common stock outstanding as of December 31 of the immediately preceding year, (ii) 561,000 shares, or (iii) such number of shares as determined by the Board. Accordingly, effective January 1, 2026, the number of shares in the ESPP increased by 274,131 shares, representing 1% of the prior year end’s common stock outstanding. As of March 31, 2026, 1,013,728 shares of common stock remained available for issuance under the ESPP.

During the three months ended March 31, 2026 and 2025, the Company recognized an insignificant amount of stock-based compensation expense related to the ESPP.

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The Company’s financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). Unaudited Interim Condensed Financial Information The accompanying condensed balance sheet as of March 31, 2026, the condensed statements of operations and comprehensive loss and the condensed statements of stockholders’ equity for the three months ended March 31, 2026 and 2025, and the condensed statements of cash flows for the three months ended March 31, 2026 and 2025 are unaudited. The unaudited interim condensed financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2026, the results of its operations for the three months ended March 31, 2026 and 2025 and its cash flows for the three months ended March 31, 2026 and 2025. The financial data and other information disclosed in these notes related to the three months ended March 31, 2026 and 2025 are also unaudited. The results for the three months ended March 31, 2026 are not necessarily indicative of results to be expected for the year ending December 31, 2026, any other interim periods, or any future year or period. The balance sheet as of December 31, 2025 included herein was derived from the audited financial statements as of that date. Certain disclosures have been condensed or omitted from the interim condensed financial statements. Accordingly, these unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements as of and for the year ended December 31, 2025, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission (“SEC”), dated March 17, 2026. Risks and Uncertainties Liquidity The Company’s operations have historically been primarily financed through the issuance and sale of redeemable convertible preferred stock and common stock. Since inception, the Company has incurred significant losses and negative net cash flows from operations. During the three months ended March 31, 2026 and 2025, the Company incurred a net loss of $10.0 million and $10.6 million, respectively, and had cash flows used in operating activities of $12.1 million and $10.6 million, respectively. The Company has an accumulated deficit of $251.0 million and $241.0 million as of March 31, 2026 and December 31, 2025, respectively, and will require substantial additional capital for research and development activities. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its product candidates currently in development. As of March 31, 2026, the Company had cash, cash equivalents, and investments of $85.3 million. Management believes that its cash, cash equivalents, and investments as of March 31, 2026 will be sufficient to fund its current operating plan through at least twelve months from the issuance date of these condensed financial statements. Future capital requirements will depend on many factors, including the timing and extent of spending on research and development, including costs for preclinical and nonclinical studies, clinical trials, and clinical trial and material manufacturing. There can be no assurance that, in the event the Company requires additional financing, such financing will be available at terms acceptable to the Company, if at all. Failure to generate sufficient cash flows from operations, raise additional capital, and reduce discretionary spending should additional capital not become available could have a material adverse effect on the Company’s ability to achieve its intended business objectives. Segments The Company operates and manages its business as one reportable and operating segment. For financial information related to the Company's one operating segment, see Note 12 - Segment Reporting. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to research and development accruals, fair value of assets and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Research and Development Expenses All research and development costs, including work performed by third parties, are expensed as incurred. Research and development costs consist of salaries and other personnel-related expenses, including associated stock-based compensation, consulting fees, and facility costs, as well as fees paid to other entities that conduct certain research and development activities on behalf of the Company. Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods are received or services are rendered. As part of the process of preparing its financial statements, the Company estimates its accrued expenses. This process involves reviewing quotations and contracts, identifying services that have been performed on the Company’s behalf and estimating the level of services performed and the associated cost incurred for services for which the Company has not yet been invoiced or otherwise notified of the actual cost. The majority of the Company’s service providers invoice monthly in arrears for services performed or when contractual milestones are met. The Company makes estimates of its accrued expenses at the end of each reporting period based on the facts and circumstances known to the Company at that time. The significant estimates in the Company’s accrued research and development expenses relate to expenses incurred with respect to contract manufacturing and clinical and other research organizations, academic research centers, and other vendors in connection with research and development activities for which the Company has not yet been invoiced. Stock-Based Compensation The Company measures and recognizes compensation expense for equity-classified stock-based awards made to employees, directors and non-employees based on the grant date estimated fair value of each award. Compensation expense for employee and director awards is recognized on a straight-line basis over the requisite service period which is generally the vesting period for the entire award. Expense is adjusted for forfeitures as they occur. Compensation expense for non-employee awards is recognized in the same period and manner as if the Company had paid cash for the goods or services provided. The valuation model used for calculating the fair value of stock options for stock-based compensation expense is the Black-Scholes option-pricing model (the “Black-Scholes model”). The Black-Scholes model requires management to make assumptions and judgments about the variables used in the calculation, including the expected term, the expected volatility of common stock, an assumed risk-free interest rate, and expected dividends the Company may pay. Management uses the simplified calculation (based on the mid-point between the vesting date and the end of the contractual term) of the expected term for its stock options as the Company has concluded that its stock option history does not provide a reasonable basis upon which to estimate expected term. Through November 2025, volatility is based on an average of the historical volatilities of the common stock of entities with characteristics similar to that of the Company. Beginning in December 2025, after sufficient trading data of the Company’s common stock on the Nasdaq Global Select Market became available, the Company adopted a blended volatility methodology that combines the Company’s historical volatility with that of a peer group, weighting the volatility of its peer group for the amount of time prior to the Company's initial public offering in March 2022 so that the blended volatility term equals the expected term of the related stock-based award. The Company will continue to utilize this blended volatility methodology until sufficient historical trading data of the Company's common stock is available. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. The Company uses an assumed dividend yield of zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. For option awards that contain performance conditions, compensation cost is recognized in the period in which it becomes probable that the performance condition will be satisfied. For option awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense would be recognized until the performance-based vesting condition is achieved. Warrants The Company accounts for warrants as equity-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in the Financial Accounting Standards Board (“FASB”) ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). This assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. Finally, the Company determines if the warrants meet the definition of a derivative based on their contractual terms. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. The Company also evaluates if changes in contractual terms or other considerations would result in the reclassification of outstanding warrants from stockholders’ equity to liabilities (or vice versa). Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents, which consist of money market funds, are stated at fair value. As of March 31, 2026 and December 31, 2025, the Company had cash and cash equivalents of $53.5 million and $19.9 million, respectively. Investments Investments consist of U.S. Treasury securities, commercial paper, U.S. Government agency securities, and corporate debt securities. All of the Company’s investments are classified as available-for-sale and are carried at estimated fair values and reported as cash equivalents, short-term investments or long-term investments. Management determines the appropriate classification of the investments at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. Investments with contractual maturities greater than 12 months are considered long-term investments. The cost of investments sold, if any, is based on the specific identification method. Unrealized gains and losses on available-for-sale investments are reported in accumulated other comprehensive (loss) gain as a separate component of stockholders’ equity (deficit). For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value and recognized in other income (expense) in the statements of operations and comprehensive loss. If neither criterion is met, the Company evaluates whether the decline in fair value is related to credit-related factors or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. Credit-related impairment losses, limited by the amount that the fair value is less than the amortized cost basis, are recorded through an allowance for credit losses in other income, net. Any unrealized losses from declines in fair value below the amortized cost basis as a result of non-credit factors are recognized in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity, along with unrealized gains. Realized gains and losses and declines in fair value, if any, on available-for-sale securities are included in other income, net in the statements of operations and comprehensive loss. For purposes of identifying and measuring credit-related impairments, the Company’s policy is to exclude applicable accrued interest from both the fair value and amortized cost basis of the related security. The Company has elected to write-off uncollectible accrued interest receivable balances in a timely manner, which is defined by the Company as when interest due becomes 90 days delinquent. The accrued interest write-off will be recorded by reversing interest income. Accrued interest receivable is recorded to prepaid expenses and other current assets on the Company’s unaudited interim condensed balance sheets. As of March 31, 2026 and December 31, 2025, the Company had investments of $31.8 million and $40.1 million, respectively. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and investments. The Company’s cash is invested through financial institutions in the United States. The Company’s investments consist of debt securities, issued by highly rated corporate entities or the U.S. government, and asset-backed securities. The Company’s exposure to any individual corporate entity is limited by its investment policy. Deposits have and will continue to exceed federally insured limits. The Company invests its cash equivalents in highly rated money market funds. The Company has not experienced any credit losses in such accounts. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash to the extent recorded on the condensed balance sheets. Through March 31, 2026, the Company had no off-balance sheet concentrations of credit risk. Government Contract In September 2022, the Company received a cost-reimbursement contract award under which the Company was eligible to receive up to $17.8 million from the U.S. National Institute of Allergy and Infectious Diseases (“NIAID”) to support preclinical, Phase 1 studies and other activities to enable advancement of epetraborole into late-stage development for acute systemic melioidosis and other biothreat pathogens. In April 2025, the Company entered into a contract modification with NIAID for a $0.5 million increase and term extension to an existing NIAID contract option. In June 2025, as part of a U.S. Government cost efficiency initiative under a 2025 Executive Order, the Company was notified that the NIAID will not exercise certain remaining options under the contract, resulting in a total $9.0 million reduction to the $18.3 million contract, for a total cumulative contract funding of up to $9.3 million. With the completion of pivotal work under the contract, including the manufacture of drug product, the Company is engaged with federal agencies to fund a Phase 2 proof-of-concept clinical trial for acute melioidosis. This project will be funded in whole with Federal funds from the NIAID, National Institutes of Health, and Department of Health and Human Services Contract No. 75N93022C00059. Accounting for this contract does not fall under ASC 606, Revenue from Contracts with Customers, as NIAID will not benefit directly from the advancement of epetraborole. As there was no authoritative guidance under U.S. GAAP on accounting for government assistance to for-profit business entities at the inception of the NIAID contract, the Company applied International Accounting Standards (IAS) 20, Accounting for Government Grants and Disclosure of Government Assistance, by analogy when accounting for the NIAID contract payments to the Company. The Company has not yet adopted Accounting Standards Update 2025-10, which was announced in December 2025 to address accounting for government assistance to for-profit business entities (see Recent Accounting Pronouncements Not Yet Adopted). Under IAS 20, government contract proceeds are recognized when there is reasonable assurance the conditions of the contract will be met and the contract funding will be received. For the NIAID contract, this occurs after the qualifying expenses related to the contract have been incurred, or the Company concludes the conditions of the contract have been substantially met. The income related to the reimbursement of operating expenses is then recorded as a reduction of those expenses (see Note 4 - Funding Arrangements). Grant Agreements The Company recognizes grant proceeds from the Gates Foundation, formerly the Bill and Melinda Gates Foundation, in accordance with ASC 958-605, Not-for-Profit Entities - Revenue Recognition. When qualifying costs are incurred and the conditions of the grant agreement have been met, the Company records a reduction to the research and development expenses incurred and a corresponding grant receivable. Cash received from grants in advance of incurring qualifying costs is recorded as a liability and recognized as a reduction to the qualifying research and development expenses incurred (see Note 4 - Funding Arrangements). Comprehensive Loss Comprehensive loss includes net loss and certain changes in stockholders’ equity that are excluded from net loss. The Company’s other comprehensive loss consists of net changes in unrealized gains and losses on its available-for-sale investments. For the three months ended March 31, 2026 and 2025, the Company had an insignificant net unrealized loss and gain on available-for-sale investments, respectively. Net Loss Per Share Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, stock options, unvested restricted stock units (“RSUs”), common stock subject to repurchase related to unvested early exercise of stock options, and shares committed under the Company’s 2022 Employee Stock Purchase Plan (“ESPP”) are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities. The Company also considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of early exercised shares subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. In June 2025, the Company entered into exchange agreements with existing stockholders to exchange 2,952,000 shares of the Company’s common stock for pre-funded warrants (the “2025 Pre-Funded Warrants”) for an equivalent number of shares of common stock at a nominal exercise price of $0.00001 per share. In March 2026, the Company entered into a Securities Purchase Agreement which provided for the sale and issuance by the Company of an aggregate of: (i) 8,245,611 shares of the Company’s common stock and (ii) pre-funded warrants to purchase up to an aggregate of 5,789,493 shares of common stock (the “2026 Pre-Funded Warrants”). The shares of common stock underlying the 2026 Pre-Funded Warrants and 2025 Pre-Funded Warrants are considered outstanding for the purposes of computing net loss per share because the shares may be issued for little or no consideration, they are fully vested and the Warrants are immediately exercisable upon their issuance date. Because the Company has reported a net loss for all periods presented, diluted net loss per share is the same as basic net loss per share for those periods because the impact of potentially dilutive securities would be anti-dilutive. JOBS Act Accounting Election The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. The Company may take advantage of these provisions until December 2027, unless the Company ceases to be an emerging growth company at an earlier date. As a result, these financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40), Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments, replacing the treasury stock method with the if-converted method for calculation of diluted earnings per share, and removing certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception. ASU 2020-06 was effective for annual periods beginning after December 15, 2023, but was not applicable to the Company at that time. The Company adopted ASU 2020-06 on June 17, 2025 using the modified retrospective method in connection with accounting for the pre-funded warrant exchange (See Note 8 – Equity, Issuance of Pre-Funded Warrants in Exchange for Common Stock). Adoption of this standard did not have any impact on the Company's financial statements or net loss per share amounts. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires enhanced annual disclosures regarding the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company adopted ASU 2023-09 for the year ended December 31, 2025, prospectively. Newly required disclosures were included in Note 10 - Income Taxes in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC, dated March 17, 2026. On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act (the “OBBBA”), which includes several changes to U.S. federal income tax law, including the temporary and permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017. Adoption of the relevant provisions of the OBBBA did not have a material impact on the Company's financial statements and related disclosures. The Company will continue to monitor the impact of the OBBBA in future periods. Recent Accounting Pronouncements Not Yet Adopted From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise noted, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its condensed financial statements and disclosures. As an “emerging growth” company, it has been the Company’s intention to take advantage of certain temporary exemptions from various reporting requirements, as well as taking advantage of additional transitional relief. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, included in certain expense captions in the Statements of Operations, as well as qualitatively describe remaining amounts included in those captions. ASU 2024-03 will also require the Company to disclose both the amount and the Company’s definition of selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is evaluating the impact of this standard on its financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832) (“ASU 2025-10”), which adds guidance to ASC 832, Government Assistance, on the recognition, measurement, and presentation of government grants. ASU 2025-10 is effective for fiscal years, including interim reporting periods within those fiscal years, beginning after December 15, 2028 and may be adopted on a modified prospective or modified or full retrospective basis. Early adoption is permitted. The Company is evaluating the impact of this standard on its financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (“ASU 2025-11”), which clarifies guidance on interim reporting. ASU 2025-11 is effective for interim periods within annual reporting periods beginning after December 15, 2027 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is evaluating the impact of this standard on its financial statements and related disclosures.

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating expenses:
Research and development	$ 6,743	$ 7,690
General and administrative	3,808	3,847
Total operating expenses	10,551	11,537
Loss from operations	(10,551)	(11,537)
Interest income	523	888
Net loss attributable to common stockholders	$ (10,028)	$ (10,649)
Net loss per share attributable to common stockholders, basic	$ (0.29)	$ (0.35)
Net loss per share attributable to common stockholders, diluted	$ (0.29)	$ (0.35)
Weighted-average number of shares used in computing net loss per share, basic	34,059,876	30,053,659
Weighted-average number of shares used in computing net loss per share, diluted	34,059,876	30,053,659
Other comprehensive loss:
Unrealized (loss) gain on investments	$ (62)	$ 17
Comprehensive loss	$ (10,090)	$ (10,632)

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	35,985,599	27,413,171
Common stock, shares outstanding	35,985,599	27,413,171

Equity Incentive Plan and Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	Mar. 19, 2026	Mar. 31, 2026	Dec. 31, 2025	Jan. 01, 2026	Oct. 01, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)		17,666,703	10,833,370
Weighted average grant-date fair value, options granted		$ 0.88
Unrecognized share-based compensation expense related to unvested share options		$ 3.8
Unrecognized share-based compensation expense expects to recognize over a weighted-average period		2 years 2 months 12 days
Option repricing reduced exercise price of each eligible option	$ 3.91
Option repricing description		To the extent an Eligible Option is exercised prior to the Premium End Date, or the eligible holder’s services with the Company terminates prior to the Premium End Date, the holder will be required to pay the original exercise price per share of the Eligible Options. The “Premium End Date” is the earliest of (i) September 19, 2027 (the “Retention Period”), (ii) the date of a change in control, or (iii) the eligible holder’s death or disability. Except for the reduction in the exercise prices of the Eligible Options as described above, the Eligible Options retain their existing terms and conditions as set forth in the Plans and the applicable award agreements.
Option repricing resulted incremental stock compensation expense for vested and unvested options	$ 0.4
RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued		1,275,412	856,160
Unrecognized stock-based compensation expense		$ 1.3
Unrecognized share-based compensation expense expects to recognize over a weighted-average period		3 years 1 month 6 days
Appreciation Rights Or Performance Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued		0
2017 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)		2,553,920
2022 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)		1,870,000
Maximum number of shares of common stock that may be issued		4,423,920
Shares of common stock remained available for future issuance		192,676
Percentage of annual increase in shares reserved for future issuance on common stock outstanding.		4.00%
Award contractual life (in years)		10 years
Increase in number of annual shares				1,096,526
Percentage of common stock outstanding		4.00%
2022 Equity Incentive Plan \| Incentive Stock Option \| Existing Employees
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		48 months
2022 Equity Incentive Plan \| Incentive Stock Option \| Newly Hired Employees
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		36 months
2022 Equity Incentive Plan \| Incentive Stock Option \| After Completion of 12 months of Service \| Newly Hired Employees
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage		25.00%
2022 Equity Incentive Plan \| Incentive Stock Option \| Over 36 months of Service \| Newly Hired Employees
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award contractual life (in years)		10 years
2022 Equity Incentive Plan \| Incentive Stock Option \| Over 48 months of Service \| Existing Employees
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award contractual life (in years)		10 years
2022 Equity Incentive Plan \| Incentive Stock Option or RSU \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum number of shares of common stock that may be issued		13,271,760
2022 Equity Incentive Plan \| Non-Statutory Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award contractual life (in years)		10 years
2022 Equity Incentive Plan \| RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award contractual life (in years)		10 years
2022 Equity Incentive Plan \| RSU \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		2 years
2022 Equity Incentive Plan \| RSU \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		4 years
2022 Equity Incentive Plan \| RSA
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award contractual life (in years)		10 years
2022 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)					187,000
Shares of common stock remained available for future issuance		1,013,728
Maximum percentage in payroll deductions to purchase shares of common stock		15.00%
Employees purchase price of common stock as percentage of lower of fair market value		85.00%
Percentage of common stock outstanding		1.00%	1.00%
2022 Employee Stock Purchase Plan \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Increase in number of annual shares			561,000	274,131

Collaboration, License and Other Agreements

3 Months Ended

Mar. 31, 2026

Collaboration, License And Other Agreements [Abstract]

Collaboration, License and Other Agreements

Note 5. Collaboration, License and Other Agreements

Anacor Licensing Agreement

In November 2019, the Company entered into an exclusive worldwide license agreement with Anacor Pharmaceuticals, Inc. (“Anacor”) for certain compounds and other intellectual property controlled by Anacor for the treatment, diagnosis, or prevention of all human diseases (the “Anacor License”). The Anacor License will expire upon expiration of the last to expire royalty term. Either party may terminate the Anacor License for the other party’s material breach following a cure period or immediately upon certain insolvency events relating to the other party. The Company has the right to terminate the agreement at its convenience upon 90-day written notice until the first regulatory approval or one-year notice thereafter. Furthermore, upon termination of the Anacor License for any of the foregoing reasons, the rights and licenses within will terminate.

In exchange for the worldwide, sublicensable, exclusive right and licenses to develop, manufacture, and commercialize the specified compounds, the Company paid Anacor a non-refundable $2.0 million upfront payment and granted Anacor shares of Series A redeemable convertible preferred stock.

The Company agreed to make further payments to Anacor upon achievement of various development milestones for an aggregate maximum of $2.0 million, upon achievement of various commercial and sales threshold milestones for an aggregate maximum payment of $125.0 million, and up to 50% of royalties received under certain sublicensing arrangements. Royalties are subject to certain customary reductions, including lack of patent coverage and generic product entry. The Company also agreed to pay Anacor non-refundable, non-creditable sales royalties on a tiered marginal royalty rate based on the country’s status as a developing or developed country as defined in the license agreement. Sales royalties are a percentage of net sales, as specified in the Anacor License, and range from mid-single digits for developing countries (as classified by the World Bank) and single to mid-teens for all other countries or the China, Hong Kong, Taiwan, and Macau territories, upon reaching a minimum of net sales in the low-teen millions. The sales royalties are required to be paid on a product-by-product and country-by-country basis, until the latest to occur of 15 years following the date of first commercial sale of a product, the expiration of all regulatory or data exclusivity, or the date of the expiration of the last to expire valid claim of a licensed patent covering such product in such country. Currently, the date of the expiration of the last to expire valid claim of a licensed patent covering epetraborole in the licensed territory is June 2028. In addition, Anacor is entitled to certain milestone payments upon a change of control of the Company.

In December 2021, the Company entered into an amendment to the Anacor License for certain compounds and other intellectual property controlled by Anacor for the treatment, diagnosis, or prevention of certain bacterial pathogens (the “Anacor License Amendment”). The Anacor License Amendment has no impact on the Anacor License financial terms.

None of the development, regulatory, commercial or sales milestones or royalty payments were recognized during the three months ended March 31, 2026 and 2025. As a result, the Company did not record any research and development expense—related party in the condensed statements of operations for the three months ended March 31, 2026 and 2025.

Brii Biosciences Agreement

In November 2019, the Company entered into a license agreement granting Brii Biosciences Limited the exclusive development and commercialization rights of certain compounds in China, Hong Kong, Taiwan, and Macau for the treatment of human diseases. The Company did not receive an upfront payment but is eligible to receive up to $15.0 million in the aggregate for development and regulatory milestones and up to $150.0 million in commercial milestones upon achieving sales thresholds. The Company is also entitled to tiered mid-single digits to high-first decile percentage sales-based royalties. The sales royalties are required to be paid on a product-by-product and region-by-region basis, until the latest to occur of 15 years following the date of first commercial sale of a product, the expiration of all regulatory or data exclusivity, or the date upon the expiration of the last to expire claim of a licensed patent covering the composition of matter or approved use of such product in such region. The last to expire valid claim of a licensed patent covering the composition of matter or approved use of such product in the licensed territory is June 2028. Future milestone payments and royalties will be accounted for under ASC 606.

Funding Arrangements - Additional Information (Details) $ in Thousands	1 Months Ended									3 Months Ended		31 Months Ended
	Sep. 30, 2025 USD ($)	Jun. 30, 2025 USD ($)	Apr. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	May 31, 2024 USD ($) Option	Apr. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jul. 31, 2023 USD ($) Option	Sep. 30, 2022 USD ($) Option	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Government Assistance [Line Items]
Maximum amount eligible to receive under cost-reimbursement contract award		$ 18,300							$ 17,800
Other liabilities current										$ 567			$ 1,229
NIAID Contract
Government Assistance [Line Items]
Maximum amount eligible to receive under cost-reimbursement contract award		18,300							$ 17,800
Government committed contract funding amount		9,300
Number of option period for funding from government contract									48 months
Government contract income recognized										$ 200	$ 0
Government contract receivable													500
Number of option exercised for government contract \| Option					2			2
Number of available options under government contract \| Option									7
Government contract fund increased amount			$ 500		$ 3,800			$ 700
Government contract funding reduced amount		$ 9,000
Funding of option extends estimated completion of contract term										29 months
Proceeds from government contract										$ 9,300		$ 8,800
Contract term										18 months
NIAID Contract \| Prepaid Expenses and Other Current Assets
Government Assistance [Line Items]
Government contract receivable										$ 700
BMGF Grant
Government Assistance [Line Items]
Grant award amount	$ 1,900						$ 1,800
Grant income recognized										500
Other liabilities current										600			$ 1,200
Gates Foundation Grant
Government Assistance [Line Items]
Grant award amount				$ 2,000
Grant funding in advance amount				$ 1,100			$ 1,000
Amount received in grant funding						$ 800
2024 BMGF Grant
Government Assistance [Line Items]
Grant income recognized										$ 0	$ 400

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands		1 Months Ended					3 Months Ended
	Mar. 10, 2026 $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares	Apr. 30, 2025 USD ($)	May 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2026 USD ($) Segment shares	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)	Jun. 17, 2025
Accounting Policies [Line Items]
Net loss							$ 10,028	$ 10,649
Cash flows used in operating activities							12,073	$ 10,624
Accumulated deficit							250,978		$ 240,950
Cash, cash equivalents and investments							$ 85,300
Number of operating segment \| Segment							1
Number of reportable segment \| Segment							1
Cash and cash equivalents							$ 53,487		19,941
Investments							$ 31,800		$ 40,100
Maximum amount eligible to receive under cost-reimbursement contract award		$ 18,300				$ 17,800
Award reduction amount		9,000
Maximum amount eligible to receive under cost-reimbursement cumulative contract award after reduction		9,300
ASU 2020-06
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]										true
Change in Accounting Principle, Accounting Standards Update, Adoption Date										Jun. 17, 2025
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]										true
ASU 2023-09
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]							true
Change in Accounting Principle, Accounting Standards Update, Adoption Date							Dec. 31, 2025
NIAID Contract
Accounting Policies [Line Items]
Maximum amount eligible to receive under cost-reimbursement contract award		$ 18,300				$ 17,800
Government contract fund increased amount			$ 500	$ 3,800	$ 700
Exchange Agreements
Accounting Policies [Line Items]
Exchange of common stock for pre-funded warrants, shares \| shares		2,952,000
Nominal exercise price \| $ / shares		$ 0.00001
Private Placement \| Common Stock
Accounting Policies [Line Items]
Stock issued during period, shares \| shares	8,245,611						8,245,611
Private Placement \| Pre-funded Warrants
Accounting Policies [Line Items]
Nominal exercise price \| $ / shares	$ 0.00001
Private Placement \| Pre-funded Warrants \| Maximum
Accounting Policies [Line Items]
Issuance of warrants to purchase common stock \| shares	5,789,493

Fair Value Measurements - Additional Information (Details)	3 Months Ended
	Mar. 31, 2026 USD ($) Security	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfer of level 1 to level 2	$ 0
Transfer of level 2 to level 1	$ 0
Debt securities unrealized loss position, more than12 months number of positions \| Security	0
Available-for-sale, sale of investments	$ 0	$ 0
Allowance for credit losses	0		$ 0
Impairment losses related to investments	0	$ 0
Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accrued interest receivable	$ 300,000		$ 400,000

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Summary of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	March 31,		December 31,
	2026		2025
Accrued research and development-related expenses	$	1,311	$	1,650
Accrued clinical trial-related expenses		222		268
Accrued professional services expenses		103		84
Accrued offering costs		75		—
Other		56		50
Total accrued liabilities	$	1,767	$	2,052

Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 7. Commitments and Contingencies

Contingencies

From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. The Company was not subject to any material legal proceedings as of March 31, 2026 and December 31, 2025, and the Company is not currently a party to any legal proceeding that, if determined adversely to the Company, in management’s opinion, is currently expected to individually or in the aggregate have a material adverse effect on the Company’s business, financial condition or results of operations taken as a whole.

Guarantees and Indemnifications

The Company, as permitted under Delaware law and in accordance with its certificate of incorporation, as amended, and bylaws, and pursuant to indemnification agreements with certain of its officers and directors, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, which the officer or director is or was serving at the Company’s request in such capacity. The term of the indemnification period lasts as long as an officer or director may be subject to any proceeding arising out of acts or omissions of such officer or director in such capacity. The maximum amount of potential future indemnification is unlimited; however, the Company currently holds director and officer liability insurance. This insurance limits the Company’s exposure and may enable it to recover a portion of any future amounts paid. The Company believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to these obligations for any period presented.

Adjuvant Global Health Agreement

In conjunction with Adjuvant Global Health Technology Fund L.P.’s (“Adjuvant”) investment in the Company in 2019 and 2020, the Company entered into a Global Health Agreement with Adjuvant, pursuant to which the Company agreed to support the creation of innovative and affordable drugs to treat disease, through public health programs and private purchasers in Low and Lower-Middle-Income Countries (as such terms are defined by the World Bank and in the agreement).

Adjuvant’s investment supports the development of the Company’s product candidate, epetraborole, for use in melioidosis-endemic and melioidosis-at-risk countries and in tuberculosis-endemic and tuberculosis-at-risk countries, as defined in the agreement, as amended and restated. These global access commitments will remain in effect until the latter of either that Adjuvant ceases to be a shareholder of the Company, or ten years following epetraborole approval for the treatment of melioidosis by a regulatory authority.

The Global Health Agreement contains various affirmative and negative covenants agreed to by the Company, including its use of reasonably diligent endeavors to develop the agreed-upon products using non-dilutive funding and make accessible to people in need in the target countries so long as the Company does not sell products at a loss. Other covenants include prohibition of use of investment for propaganda, attempt to influence legislation, influence of any public election or voter registration drive or promotion of terrorist activities, as well as compliance with certain environmental, social and governance requirements and anti-corruption requirements.

Equity

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Equity

Note 8. Equity

Common Stock

The Company’s certificate of incorporation, as amended, authorizes the Company to issue up to 500,000,000 shares of $0.00001 par value common stock. Holders of common stock are entitled to one vote per share on all matters to be voted upon by the stockholders of the Company.

Subject to the preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to receive ratably such dividends, if any, as may be declared by the Board of Directors (the “Board”). No dividends have been declared to date.

On April 6, 2023, the Company entered into a sales agreement (“Sales Agreement”) with Cowen and Company, LLC as the Company’s agent (“Agent”), to issue and sell up to an aggregate gross sales of $100.0 million in shares (“Shares”) of the Company’s common stock through an “at-the-market” equity offering program (“ATM Offering”). The Company will pay commissions to the Agent of up to 3.0% of the gross proceeds of the sale of the Shares sold under the Sales Agreement and reimburse the Agent for certain expenses. During the year ended December 31, 2023, the Company issued and sold 2,502,000 shares of common stock under the ATM Offering, resulting in net proceeds of $19.1 million, after deducting commissions and other offering costs. The Company did not sell any shares of common stock through the ATM Offering during the three months ended March 31, 2026. The Company terminated the Sales Agreement with the Agent in April 2026.

On April 9, 2026, the Company entered into an open market sale agreement (the “2026 Sales Agreement”) with Jefferies LLC (“Jefferies”), as sales agent, pursuant to which the Company may offer and sell from time to time up to an aggregate of $80.0 million in shares of the Company’s common stock through an ATM Offering Program. Sales of shares of the Company’s common stock under the 2026 Sales Agreement will be made pursuant to a Registration Statement on Form S-3 as supplemented by a prospectus supplement. The Company has agreed to pay Jefferies a commission of up to 3.0% of the gross proceeds from the sale of shares of the Company’s common stock sold under the 2026 Sales Agreement.

Shares of common stock reserved for future issuance, on an as-if-converted basis, as of March 31, 2026 and December 31, 2025, consisted of the following:


	March 31,		December 31,
	2026		2025
Stock options, issued and outstanding		6,443,394		5,466,222
Pre-funded warrants		8,741,493		2,952,000
Unvested restricted stock units		1,275,412		856,160
Stock options, authorized for future issuance		192,676		783,106
ESPP, authorized for future issuance		1,013,728		775,882
Total		17,666,703		10,833,370

Preferred Stock

The Company’s certificate of incorporation, as amended, authorizes the Company to issue up to 10,000,000 shares of $0.00001 par value preferred stock. The preferred stock is not convertible. No shares of preferred stock were issued and outstanding as of March 31, 2026 and December 31, 2025.

Shareholder Rights Plan

On August 15, 2024, the Company entered into a Rights Agreement between the Company and Equiniti Trust Company, LLC as Rights Agent (as amended from time to time, the “Rights Agreement”), which was previously approved by the Board. In connection with the Rights Agreement, a dividend was declared of one preferred stock purchase right (individually, a “Right” and collectively, the “Rights”) for each share of the common stock, par value $0.00001 per share, of the Company outstanding at the close of business on August 29, 2024 (the “Record Date”). Each Right entitles the registered holder thereof, after the Rights become exercisable and until August 15, 2025 (or the earlier redemption, exchange or termination of the Rights), to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock, par value $0.00001 per share, (the “Series A Preferred”), of the Company at a price of $6.50 per one one-thousandth of a share of Series A Preferred, subject to adjustment. The Rights are not exercisable until the Distribution Date (as defined in the Rights Agreement”) and the Rights will expire on August 15, 2025, subject to the Company’s right to extend such date, unless earlier redeemed or exchanged by the Company or terminated. Additional information regarding the Rights Agreement is contained in a Current Report on Form 8-K filed with the SEC on August 19, 2024. The adoption of the Shareholder Rights Plan had no impact on the financial position of the Company. The Shareholder Rights Plan expired on August 15, 2025.

Common Stock and Pre-Funded Warrants Transactions

2026 Private Placement

In March 2026, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain investors (the “Purchasers”) to raise approximately $40.0 million. The Purchase Agreement provided for the sale and issuance by the Company of an aggregate of: (i) 8,245,611 shares (the “Shares”) of the Company’s common stock and (ii) pre-funded warrants to purchase up to an aggregate of 5,789,493 shares of common stock (collectively, the "2026 Private Placement”). The price per Share was $2.85, and the price per 2026 Pre-Funded Warrant was $2.84999. The closing of the 2026 Private Placement occurred on March 10, 2026 (the “Closing”).

The Company valued the 2026 Pre-Funded Warrants at issuance, concluding their sales price approximated their fair value, and allocated net proceeds from the sale proportionately to the common stock and the 2026 Pre-Funded Warrants. Net proceeds allocated to the common stock and the 2026 Pre-Funded Warrants were $21.9 million and $15.4 million, respectively, net of placement agent fees and other offering costs, and recorded as a component of additional paid-in-capital.

In connection with the 2026 Private Placement, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchasers at the Closing. Pursuant to the Registration Rights Agreement, among other things, the Company filed a registration statement (the “Registration Statement”) and a prospectus supplement with the SEC on April 9, 2026 to register the resale of the Shares and the shares of common stock issuable upon exercise of the 2026 Pre-Funded Warrants. The SEC declared the Registration Statement effective on April 20, 2026.

2025 Exchange Agreements

In June 2025, the Company entered into exchange agreements (the “2025 Exchange Agreements”) with existing stockholders pursuant to which the stockholders exchanged an aggregate of 2,952,000 shares of the Company’s common stock for the 2025 Pre-Funded Warrants to purchase up to an equivalent number of shares of common stock. The exchange of 152,000 of shares of the Company's common stock settled in July 2025.

The exchange transactions were completed pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended, and no cash consideration was received by the Company. As there was no cash consideration and the exchange involved equity instruments, the transactions were accounted for as an equity-for-equity exchange with no gain or loss recognized. The Company valued the 2025 Pre-Funded Warrants at issuance, concluding that the closing stock price on the transaction close dates approximated their fair value.

Pre-Funded Warrants

The 2025 Pre-Funded Warrants and the 2026 Pre-Funded Warrants (collectively, the “Pre-Funded Warrants”) have an exercise price of $0.00001 per share and do not have an expiration date. The Pre-Funded Warrants include a beneficial ownership limitation that restricts the holders from exercising any portion of the Pre-Funded Warrant to the extent that, following such exercise, the holder would own more than 9.99% of the Company’s outstanding common stock. The ownership limitation may be increased by the holders to up to 19.99% upon 61 days’ prior written notice to the Company.

The Pre-Funded Warrants meet the criteria for equity classification under ASC 815-40, because they (i) are freestanding financial instruments that are legally detachable and separately exercisable from the equity instruments, (ii) are immediately exercisable, (iii) do not embody an obligation for the Company to repurchase its shares, (iv) permit the holders to receive a fixed number of shares of common stock upon exercise, and (v) are indexed to the Company’s common stock. Accordingly, the Pre-Funded Warrants were recorded in additional paid-in capital within stockholders’ equity.

As of March 31, 2026, all of the Pre-Funded Warrants remain unexercised.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - 2026 Private Placement $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)
Common Stock
Placement agent fees and other offering costs	$ 1.6
Pre-funded Warrants
Placement agent fees and other offering costs	$ 1.1

Organization and Description of Business

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Description of Business

Note 1. Organization and Description of the Business

Description of Business

AN2 Therapeutics, Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel small molecule therapeutics derived from its boron chemistry platform. The Company's development pipeline spans hematologic diseases, infectious diseases and oncology with three Phase 2 studies expected to be active in 2026, two preclinical candidates, as well as advanced research programs focused on targets in oncology, bone disorders and infectious diseases. The Company is committed to delivering high-impact drugs to patients that address critical medical needs and improve health outcomes. The Company was incorporated in the state of Delaware in February 2017, began operations in November 2019, began trading on the Nasdaq Global Select Market on March 25, 2022 under the symbol “ANTX”, and is based in Menlo Park, California.

Since launching operations in November 2019, the Company has devoted substantially all of its resources to performing research and development activities, business planning and restructuring, hiring personnel, raising capital, and providing general and administrative support for these operations.

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	2026 Private Placement	Common Stock	Common Stock 2026 Private Placement	Additional Paid-In Capital	Additional Paid-In Capital 2026 Private Placement	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning balances at Dec. 31, 2024	$ 81,849				$ 287,594		$ 31	$ (205,776)
Beginning balances, shares at Dec. 31, 2024			29,919,634
Issuance of common stock under the ESPP	38				38
Issuance of common stock under the ESPP, shares			42,797
Issuance of common stock upon exercise of stock options	27				27
Issuance of common stock upon exercise of stock options, shares			63,124
Issuance of common stock upon release of restricted stock units, shares			115,962
Stock-based compensation	2,047				2,047
Unrealized gain (loss) on available-for-sale investments	17						17
Net loss	(10,649)							(10,649)
Ending balances at Mar. 31, 2025	73,329				289,706		48	(216,425)
Ending balances, shares at Mar. 31, 2025			30,141,517
Beginning balances at Dec. 31, 2025	53,060				293,953		57	(240,950)
Beginning balances, shares at Dec. 31, 2025			27,413,171
Issuance of common stock in the 2026 Private Placement, net of placement agent fees and other offering costs		$ 21,894				$ 21,894
Issuance of common stock in the 2026 Private Placement, net of placement agent fees and other offering costs, shares				8,245,611
Issuance of pre-funded warrants in the 2026 Private Placement, net of placement agent fees and other offering costs		$ 15,372				$ 15,372
Issuance of common stock under the ESPP	39				39
Issuance of common stock under the ESPP, shares			36,285
Issuance of common stock upon exercise of stock options	$ 24				24
Issuance of common stock upon exercise of stock options, shares	8,119		8,119
Issuance of common stock upon release of restricted stock units, shares			282,413
Stock-based compensation	$ 1,460				1,460
Unrealized gain (loss) on available-for-sale investments	(62)						(62)
Net loss	(10,028)							(10,028)
Ending balances at Mar. 31, 2026	$ 81,759				$ 332,742		$ (5)	$ (250,978)
Ending balances, shares at Mar. 31, 2026			35,985,599

Segment Reporting

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Reporting

Note 12. Segment Reporting

The Company operates and manages its business as one reportable and operating segment. The determination of a single operating segment is consistent with the financial information regularly provided to the Company’s chief operating decision maker (the “CODM”). The Company's chief executive officer, who is the CODM, assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the statements of operations and comprehensive loss. The monitoring of budgeted versus actual results are used in assessing performance of the segment, and making operating decisions, allocating resources, and planning and forecasting for future periods. The measure of segment assets is reported on the balance sheets as total assets.


	Three Months Ended March 31,
	2026		2025
External research and development expenses:
Clinical trials expenses	$	755	$	528
Consulting and outside services		748		632
Other external research and development (1)		2,442		3,960
Total external research and development expenses		3,945		5,120

Internal research and development expenses:
Personnel related expenses		2,798		2,570
Total research and development expenses	$	6,743	$	7,690

(1) Chemistry manufacturing controls, research and preclinical studies and other miscellaneous expenses.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Segment Reporting - Additional Information (Details)	3 Months Ended
Segment Reporting - Additional Information (Details)	Mar. 31, 2026 Segment
Segment Reporting [Abstract]
Number of reportable segment	1
Number of operating segment	1
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	The Company's chief executive officer, who is the CODM, assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the statements of operations and comprehensive loss. The monitoring of budgeted versus actual results are used in assessing performance of the segment, and making operating decisions, allocating resources, and planning and forecasting for future periods. The measure of segment assets is reported on the balance sheets as total assets.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember

Balance Sheet Components

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Note 6. Balance Sheet Components

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	March 31,		December 31,
	2026		2025
Accrued research and development-related expenses	$	1,311	$	1,650
Accrued clinical trial-related expenses		222		268
Accrued professional services expenses		103		84
Accrued offering costs		75		—
Other		56		50
Total accrued liabilities	$	1,767	$	2,052

Equity - Shares of Common Stock Reserved for Future Issuance (Details) - shares	Mar. 31, 2026	Dec. 31, 2025
Class of Stock [Line Items]
Shares of common stock reserved for future issuance (in shares)	17,666,703	10,833,370
Stock Options Issued And Outstanding
Class of Stock [Line Items]
Shares of common stock reserved for future issuance (in shares)	6,443,394	5,466,222
Pre-funded Warrants
Class of Stock [Line Items]
Shares of common stock reserved for future issuance (in shares)	8,741,493	2,952,000
Unvested Restricted Stock Units
Class of Stock [Line Items]
Shares of common stock reserved for future issuance (in shares)	1,275,412	856,160
Stock Options Authorized For Future Issuance
Class of Stock [Line Items]
Shares of common stock reserved for future issuance (in shares)	192,676	783,106
ESPP, Authorized for Future Issuance
Class of Stock [Line Items]
Shares of common stock reserved for future issuance (in shares)	1,013,728	775,882

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Funding Arrangements

3 Months Ended

Mar. 31, 2026

Funding Arrangements [Abstract]

Funding Arrangements

Note 4. Funding Arrangements

NIAID Contract

In September 2022, the Company received a cost-reimbursement contract award from the NIAID to support preclinical, Phase 1 studies and other activities to enable the advancement of epetraborole into late-stage development for acute systemic melioidosis and other biothreat pathogens. Under the original award, the Company was eligible to receive up to $17.8 million in funding over a total term of 48 months, consisting of a base period and seven option periods. In July 2023 and May 2024, the NIAID exercised two of seven available options under the NIAID contract (No: 75N93022C00059), resulting in an increase in committed contract funding of $0.7 million and $3.8 million, respectively, for a cumulative total of $8.8 million. In April 2025, the Company entered into a contract modification with NIAID for a $0.5 million increase and term extension to an existing NIAID contract option. In June 2025, as part of a U.S. government cost efficiency initiative under a 2025 Executive Order, the Company was notified that the NIAID will not exercise certain remaining options under the contract, resulting in a total $9.0 million reduction to the $18.3 million contract, for a cumulative contract total of $9.3 million. Funding for the exercised options extends the estimated completion of the current contract by 29 months beyond the base period of 18 months to August 2026. As of March 31, 2026, a total of $9.3 million of funding has been committed.

During the three months ended March 31, 2026, the Company recorded $0.2 million of income as a reduction in research and development operating expenses under the NIAID contract. As of March 31, 2026, the Company recorded a receivable of $0.7 million which was included in prepaid expenses and other current assets on the balance sheet. During the three months ended March 31, 2025, the Company did not record any income under the NIAID contract as a reduction in research and development operating expenses, and had recorded a receivable of $0.5 million as of December 31, 2025.

Gates Foundation Grants

In September 2023, the Company received a cost-reimbursement contract award from the Gates Foundation, formerly the Bill and Melinda Gates Foundation (“2023 BMGF Agreement”), under which the Company was awarded $1.8 million to support the discovery of novel, boron containing small molecules for the treatment of tuberculosis and malaria. The Company is required to apply the funds it receives under the 2023 BMGF Agreement solely toward direct costs related to this research program. The Company received $1.0 million of funding in advance and tracks and reports eligible expenses incurred to the Gates Foundation. In April 2024, the Company received $0.8 million in funding, making the grant fully funded.

In September 2024, the Company entered into a second-year continuation cost-reimbursement contract award with the Gates Foundation (“2024 BMGF Agreement”) under which the Company was awarded $2.0 million to support an early-stage research program focused on delivering novel leads as starting points for new drugs that can be combined to deliver shorter, safer and simpler TB drug regimens. The Company is required to apply the funds it receives under the 2024 BMGF Agreement solely toward direct costs related to this research program. The Company received $1.1 million of funding in advance and tracks and reports eligible expenses incurred to the Gates Foundation. Any unspent funds and any funds spent that have not yet been incurred are recorded as part of other current liabilities on the balance sheets.

In September 2025, the Company entered into a third-year continuation cost-reimbursement contract award with the Gates Foundation (“2025 GF Agreement”) under which the Company was awarded $1.9 million to support an early-stage research program focused on delivering an optimized lead compound for clinical development that can be combined with other compounds to deliver shorter, safer and simpler TB drug regimens. The Company is required to apply the funds it receives under the 2025 GF Agreement solely toward direct costs related to this research program. Any unspent funds and any funds spent that have not yet been incurred are recorded as part of other current liabilities on the balance sheets.

As of March 31, 2026 and December 31, 2025, $0.6 million and $1.2 million, respectively, was recorded to other current liabilities on the balance sheets. During the three months ended March 31, 2026 the Company recorded income of $0.5 million as a reduction in research and development operating expenses under the 2025 GF Agreement. During the three months ended March 31, 2026 and 2025, the Company recorded no income and income of $0.4 million, respectively, as a reduction in research and development operating expenses under the 2024 BMGF Agreement.

Net Loss Per Share - Additional Information (Details) - shares	Mar. 31, 2026	Dec. 31, 2025
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares of common stock reserved for future issuance (in shares)	17,666,703	10,833,370
Pre-funded Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares of common stock reserved for future issuance (in shares)	8,741,493	2,952,000

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Summary of Financial Assets Fair Value Measurement on Recurring Basis


	March 31, 2026
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	Level 1	$	35,853	$	—	$	—		$	35,853
Short-term investments:
U.S. Treasury securities	Level 1		16,774		14		(1	)		16,787
U.S. Treasury securities	Level 2		2,480		2		—			2,482
Commercial paper	Level 2		7,096		—		(12	)		7,084
U.S. Government agency securities	Level 2		491		—		—			491
Corporate debt securities	Level 2		4,965		—		(8	)		4,957
Total		$	67,659	$	16	$	(21	)	$	67,654


	December 31, 2025
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	Level 1	$	7,104	$	—	$	—		$	7,104
Commercial paper	Level 2		547		—		—			547
Short-term investments:
U.S. Treasury securities	Level 1		22,792		49		—			22,841
U.S. Treasury securities	Level 2		3,956		8		—			3,964
Commercial paper	Level 2		6,812		2		(4	)		6,810
U.S. Government agency securities	Level 2		487		1		—			488
Corporate debt securities	Level 2		3,958		—		(1	)		3,957
Long-term investments:
U.S. Treasury securities	Level 1		1,506		2		—			1,508
Corporate debt securities	Level 2		505		—		—			505
Total		$	47,667	$	62	$	(5	)	$	47,724

Net Loss Per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Net Loss Per Share

Note 10. Net Loss Per Share

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026			2025
Numerator:
Net loss attributable to common stockholders	$	(10,028	)	$	(10,649	)
Denominator:
Weighted-average common shares outstanding used to calculate net loss per share attributable to common stockholders, basic and diluted		34,059,876			30,053,659
Net loss per share attributable to common stockholders, basic and diluted	$	(0.29	)	$	(0.35	)

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	March 31,
	2026		2025
Options issued and outstanding		6,443,394		5,740,125
Unvested RSUs		1,275,412		923,664
Total		7,718,806		6,663,789

The 8,741,493 shares of common stock that may be issued upon exercise of the Pre-Funded Warrants issued under the 2025 Exchange Agreements and the 2026 Private Placement (see Note 8) are considered outstanding for the purposes of computing earnings per share because the shares may be issued for little or no consideration, they are fully vested and the Warrants are immediately exercisable upon their issuance date.

Equity Incentive Plan and Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]
Total Options outstanding, Beginning balance	5,466,222
Total Options outstanding, Granted	1,008,050
Total Options Outstanding, Exercised	(8,119)
Total Options Outstanding, Forfeited/expired	(22,759)
Total Options outstanding, Ending balance	6,443,394	5,466,222
Total Options Outstanding, Exercisable	4,232,659
Weighted average exercise price, Beginning balance	$ 6.56
Weighted average exercise price, Granted	1.05
Weighted average exercise price, Exercised	3
Weighted average exercise price, Forfeited/expired	10.36
Weighted average exercise price, Ending balance	5.69	$ 6.56
Weighted Average Exercise Price per Share, Exercisable	$ 7.46
Weighted Average Remaining Contractual Life, Outstanding	7 years 1 month 9 days	7 years 2 months 15 days
Weighted Average Remaining Contractual Life, Exercisable	6 years 3 months
Aggregate Intrinsic Value, Outstanding	$ 7,321	$ 170
Aggregate Intrinsic Value, Exercisable	$ 2,959

Equity Incentive Plan and Stock-Based Compensation - Summary of Total Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 1,460	$ 2,047
Research and Development Expense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	604	865
General and Administrative Expense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 856	$ 1,182

Related Party Transactions

3 Months Ended

Mar. 31, 2026

Related Party Transactions

Note 11. Related Party Transactions

During the three months ended March 31, 2026, other than the significant stockholders who participated in the 2026 Private Placement as disclosed in Note 8, from which $30.0 million gross proceeds were received, there were no additional material related party transactions. During the three months ended March 31, 2025, there were no material related party transactions.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Net Loss Per Share - Schedule of Potentially Dilutive Securities Not Included in Diluted Per Share Calculation (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share	7,718,806	6,663,789
Option Issued and Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share	6,443,394	5,740,125
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted per share	1,275,412	923,664

Fair Value Measurements - Summary of Financial Assets Fair Value Measurement on Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 67,659	$ 47,667
Unrealized Gain	16	62
Unrealized Loss	(21)	(5)
Estimated Fair Value	67,654	47,724
Cash and cash Equivalents \| Level 1 \| Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	35,853	7,104
Estimated Fair Value	35,853	7,104
Cash and cash Equivalents \| Level 2 \| Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost		547
Estimated Fair Value		547
Short-term investments \| Level 1 \| U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	16,774	22,792
Unrealized Gain	14	49
Unrealized Loss	(1)
Estimated Fair Value	16,787	22,841
Short-term investments \| Level 2 \| U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	2,480	3,956
Unrealized Gain	2	8
Estimated Fair Value	2,482	3,964
Short-term investments \| Level 2 \| Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	7,096	6,812
Unrealized Gain		2
Unrealized Loss	(12)	(4)
Estimated Fair Value	7,084	6,810
Short-term investments \| Level 2 \| U.S. Government Agency Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	491	487
Unrealized Gain		1
Estimated Fair Value	491	488
Short-term investments \| Level 2 \| Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	4,965	3,958
Unrealized Loss	(8)	(1)
Estimated Fair Value	$ 4,957	3,957
Long-term investments \| Level 1 \| U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost		1,506
Unrealized Gain		2
Estimated Fair Value		1,508
Long-term investments \| Level 2 \| Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost		505
Estimated Fair Value		$ 505

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows used in operating activities
Net Loss	$ (10,028)	$ (10,649)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	1,460	2,047
Net accretion of discount on investments	(81)	(443)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(267)	645
Accounts payable	(405)	(244)
Accrued compensation	(1,805)	(1,147)
Accrued liabilities	(285)	(411)
Other current liabilities	(662)	(422)
Net cash used in operating activities	(12,073)	(10,624)
Cash flows from investing activities
Purchases of investments	(2,703)	(22,307)
Maturities of investments	10,993	31,500
Net cash provided by investing activities	8,290	9,193
Cash flows from financing activities
Proceeds from issuance of common stock in the 2026 Private Placement, net of placement agent fees and other offering costs	21,894
Proceeds from issuance of pre-funded warrants in the 2026 Private Placement, net of placement agent fees and other offering costs	15,372
Proceeds from issuance of common stock under the ESPP	39	38
Proceeds from exercise of stock options	24	27
Net cash provided by financing activities	37,329	65
Net increase (decrease) in cash and cash equivalents	33,546	(1,366)
Cash and cash equivalents at the beginning of the period	19,941	21,351
Cash and cash equivalents at the end of the period	53,487	$ 19,985
Supplemental disclosure of noncash financing items
2026 Private Placement Offering costs included in accounts payable and accrued liabilities	$ 332

Equity Incentive Plan and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Total Stock-Based Compensation


	Three Months Ended March 31,
	2026		2025
Research and development expenses	$	604	$	865
General and administrative expenses		856		1,182
Total	$	1,460	$	2,047

Summary of Stock Option Activity

A summary of the stock option activity is as follows:


	Total Options Outstanding			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2025		5,466,222		$	6.56		7.21	$	170
Granted		1,008,050			1.05
Exercised		(8,119	)		3.00
Forfeited/expired		(22,759	)		10.36
Vested and expected to vest at March 31, 2026		6,443,394		$	5.69		7.11	$	7,321
Exercisable as of March 31, 2026		4,232,659		$	7.46		6.25	$	2,959

Summary of RSU Activity

A summary of the RSU activity is as follows:


`	Number of Units			Weighted-Average Grant Date Fair Value
Unvested at December 31, 2025		856,160		$	1.72
Issued		701,665			1.05
Vested and released		(282,413	)		1.96
Unvested at March 31, 2026		1,275,412		$	1.29

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2026
Adjuvant Global Health Agreement
Commitments And Contingencies [Line Items]
Long term purchase commitment period	10 years

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2026	May 07, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Mar. 31, 2026
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Registrant Name	AN2 Therapeutics, Inc.
Entity Central Index Key	0001880438
Entity File Number	001-41331
Entity Tax Identification Number	82-0606654
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, Address Line One	1300 El Camino Real
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	331-9090
Title of 12(b) Security	Common Stock, par value $0.00001 per share
Trading Symbol	ANTX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		36,016,161

Equity Incentive Plan and Stock-Based Compensation - Summary of RSU Activity (Details) - RSU	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning Balance \| shares	856,160
Issued \| shares	701,665
Vested and released \| shares	(282,413)
Ending Balance \| shares	1,275,412
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 1.72
Weighted Average Grant Date Fair Value, Issued \| $ / shares	1.05
Weighted-Average Grant Date Fair Value, Vested and released \| $ / shares	1.96
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 1.29

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details