Business Description

2. Basis of Presentation The Company has prepared the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America or U.S. GAAP. Certain prior amounts reported in the accompanying consolidated financial statements and notes thereto have been reclassified to conform to the current year presentation. Specifically, the change in royalty payable presented within the consolidated balance sheet for the period ended December 31, 2024, of $ 0.3 million was originally reported within the caption royalty payable and had been separately presented in the comparative presentation. For the period ended December 31, 2025, the royalties payable to AbbVie and UCB, based on net sales of Revuforj and Niktimvo, respectively, is included in accrued expenses and other current liabilities. Additionally, the interest expense recognized as part of the Royalty Pharma Purchase and Sale Agreement is presented separately on the consolidated statement of operations. For the period ended December 31, 2024, this expense was reported within interest expense. Such reclassification did not affect loss from operations, total assets, total liabilities, cash used in operations, or net loss. In 2011, the Company established a wholly-owned subsidiary in the United Kingdom, which the Company dissolved in June 2024. In 2014, the Company established a wholly-owned U.S. subsidiary, which the Company dissolved in July 2025. In 2021, the Company established a wholly-owned subsidiary in the Netherlands. To date, there have been no material activities for these entities. All intercompany balances and transactions have been eliminated in consolidation.