Net loss for Q1 2026 was $10.1 million, compared to $4.5 million in Q1 2025. Operating expenses increased to $10.8 million from $4.7 million in the prior year period, driven by higher R&D and administrative costs. Cash, cash equivalents, and short-term investments totaled $90.6 million as of March 31, 2026. The company received $1.5 million in CIRM grant reimbursements during the quarter. Management believes current liquidity is sufficient to fund operations for at least the next 12 months.