v3.26.1
Segment Reporting
6 Months Ended
Jun. 30, 2026
Segment Reporting  
Segment Reporting

Note 14—Segment Reporting

Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions on how to allocate resources and assess performance. The Company views its operations and manages the business as one operating segment. The Company’s CODM is its Chief Executive Officer. The CODM uses research and development expenses, general and administrative expenses, and net loss as measures of profit or loss to assess performance and allocate resources, all of which are presented on the face of the financial statements. The CODM also uses a further breakdown of research and development expenses to assess performance and allocate resources as presented below:

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Three Months Ended

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Three Months Ended

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Six Months Ended

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Six Months Ended

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June 30, 2026

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June 30, 2025

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June 30, 2026

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June 30, 2025

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Collaboration revenue

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$

—

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$

—

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$

—

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$

109,164

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Less cost and expense:

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Research and development

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Personnel and related costs

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$

5,752

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$

9,715

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$

11,348

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$

19,699

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Facility and other allocated costs

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3,589

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5,525

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7,057

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10,847

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Research and laboratory

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9,454

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10,495

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16,922

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19,970

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Other research and development

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800

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1,124

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1,373

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2,923

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General and administrative

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5,787

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7,805

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12,366

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16,212

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Loss on lease component termination

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11,145

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—

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11,145

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​

—

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Other segment (income) expense

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(1,977)

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(2,123)

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(4,016)

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(4,506)

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Net income (loss)

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$

(34,550)

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$

(32,541)

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$

(56,195)

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$

44,019

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Other segment (income)/expense includes interest income and other income (expense).