General and Administrative Expenses. The decrease of $34.8 thousand was driven by a decrease in proxy related public company expenses of $52.6 thousand, a reduction in D&O insurance premiums of $40.0 thousand, and reduced IT related costs of $32.0 thousand, partially offset by increased tax services of $75.0 thousand including a Section 382 analysis and an increase in personnel related costs of $0.1 million.
Research and Development Expenses. The increase of $0.2 million was primarily due to an increase in CMC for KIO-301 and KIO-104 of $1.0 million, an increase in personnel related costs of $0.2 million, $0.1 million of travel and a decrease of $0.5 million for credits expected from Australian and Austrian government programs related to research and development activities, offset by an increase in KIO-301 related expenses of $0.9 million resulting from the expense reimbursement related to the strategic development and commercialization agreement with TOI, a reduction in clinical related expenses for the KIO-301 RP phase 1b trial conducted in 2023 of $0.2 million and the KIO-101 Ocular Presentation of Rheumatoid Arthritis + clinical trial activity $0.3 million, and fees associated with the settlement agreement with Mediolanum of $0.1 million.
In-Process R&D Impairment. The increase of $0.1 million was primarily due to the full impairment of KIO-201. This was caused by a strategic decision to stop pursuing partnership opportunities for this program which we had been pursuing since August 2023.
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.
