“The increase in research and development expenses was primarily attributable to: • a net increase of $0.9 million in unallocated materials and other support costs for our pipeline products; and • a net increase of $0.8 million in R&D payroll and manufacturing costs driven by the timing of production runs across our product candidates and programs, mainly due to an increase in KB111, KB407, and KB803, partially offset by a decrease in B-VEC.”
“Other income (loss) The components of our other income (loss) are summarized in the following table: Three Months Ended March 31, 2026 2025 (in thousands) Interest income $ 815 $ 1,197 Interest expense (17) (28) Foreign exchange (loss) gain (11) 4 Total other income $ 787 $ 1,173 Interest income The decrease in interest income for the three months ended March 31, 2026 compared to the same period in 2025 was due primarily to less interest earned on our cash and investment balances due to a lower average balance and a general decrease in market interest rates.”
“Modification associated with restructuring During the year ended December 31, 2025, the Company recognized $ 2.5 million of expense related to the modification of stock options for employees who were terminated as a result of the restructuring (Note 16).”