v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting

12. SEGMENT REPORTING

The Company has one reportable segment related to the research and development of the Company’s product candidates.

The Company’s Chief Operating Decision Maker (the “CODM”), its Chief Executive Officer, reviews the Company’s operations, including reviewing budgets and trial-related data, and decides how to allocate resources and assess performance. When evaluating the Company’s financial performance, the CODM regularly reviews total expenses and total assets and the CODM makes decisions using this information on a consolidated basis. The CODM uses consolidated net income or loss as a measure of profit or loss in allocating resources and assessing segment performance. In addition to the expense categories included within net income presented on the Company's unaudited condensed consolidated statements of operations and comprehensive loss, see below for additional expense details that are routinely reviewed by the CODM (in thousands):

 

 

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Research and development:

 

 

 

 

 

 

Internal expenses

 

$

11,097

 

 

$

7,846

 

External expenses

 

 

30,387

 

 

 

15,511

 

Total

 

 

41,484

 

 

 

23,357

 

General and administrative:

 

 

 

 

 

 

Internal expenses

 

 

8,107

 

 

 

3,822

 

External expenses

 

 

9,629

 

 

 

4,980

 

Total

 

 

17,736

 

 

 

8,802

 

Loss from operations

 

 

(59,220

)

 

 

(32,159

)

Total other income/(expense), net

 

 

(17,878

)

 

 

8,811

 

Net loss

 

$

(77,098

)

 

$

(23,348

)