Reported a consolidated net loss of $6.3 million for Q1 2026, compared to $15.3 million in Q1 2025. Cash and cash equivalents were $2.0 million as of March 31, 2026. Implemented a 70% workforce reduction in March 2026 as part of a formal strategic process to maximize shareholder value. Paused enrollment in the Phase 1 study of BA3182. Entered into a First Amendment to the Context License Agreement on May 14, 2026, securing $6.5 million in total payments to satisfy all future milestone and royalty obligations.