Quarterly report [Sections 13 or 15(d)]

Commitments and Contingencies - Estimated Contractual Commitments Agreements (Parenthetical) (Details)

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Commitments and Contingencies - Estimated Contractual Commitments Agreements (Parenthetical) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Apr. 30, 2026
Dec. 31, 2025
Other Commitments [Line Items]        
Total commitment $ 73,700,000      
Performance milestones commitment 7,500,000      
Milestone Liability 400,000      
Prepaid research and development 514,910     $ 1,001,993
Clinical research services expenses 10,839,150 $ 10,513,579    
Subsequent Event        
Other Commitments [Line Items]        
Total commitment     $ 600,000  
CRO Agreement        
Other Commitments [Line Items]        
Total commitment [1] 73,700,000      
Upfront Payment 1,300,000      
Prepaid research and development 1,000,000      
Clinical research services expenses 300,000      
CMO Agreements        
Other Commitments [Line Items]        
Total commitment [2] $ 10,400,000      
[1] The total commitment of $73.7 million includes $7.5 million subject to achievement of certain performance milestones associated with IMPROVE-PAH. The amount and timing of any such payments related to the $7.5 million performance milestones are contingent upon the vendor meeting specific criteria. As of March 31, 2026, one milestone of $0.4 million had been achieved and therefore a liability was recognized, the remaining milestones are not considered probable, and the potential payments cannot be reasonably estimated. Accordingly, no liability has been recorded in the accompanying consolidated financial statements for the remaining milestones. The Company will continue to evaluate this arrangement each reporting period and will recognize a liability when achievement of the remaining milestones become probable, and the amount can be reasonably estimated.

The estimated remaining contract costs exclude the potential milestone payments. As of March 31, 2026, the Company had a remaining upfront payment balance of $1.3 million to the CRO, of which $1.0 million will be held as a retainer until the end of the study and applied against final invoicing and $0.3 million will be applied to passthrough costs as incurred.
[2] In April 2026, the Company entered into change orders which increased the total commitment under the CMO agreements by approximately $0.6 million.