v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

11. Segment Information

The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the Company’s chief operating decision maker, or decision-making group (the “CODM”), in deciding how to allocate resources and assess performance. The CODM of the Company is the Chief Executive Officer. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations and comprehensive loss and the Company’s operations are managed on a consolidated basis to decide where to allocate and invest additional resources within the business.

As a single reportable segment entity, the Company’s segment performance measure is net loss. In addition to the significant expense categories included within consolidated net loss presented in the condensed consolidated statements of operations and comprehensive loss, see below for disaggregated amounts that comprise research and development expenses (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

 

 

 

 

 

 

 

 

 

 

 

Direct research and development expenses
  by program:

 

 

 

 

 

 

 

 

 

 

 

 

IK-930

 

$

313

 

 

$

3,846

 

 

$

712

 

 

$

6,304

 

IK-595

 

 

3,123

 

 

 

2,318

 

 

 

5,574

 

 

 

3,982

 

IK-175

 

 

33

 

 

 

86

 

 

 

41

 

 

 

498

 

Discovery and other programs

 

 

64

 

 

 

802

 

 

 

85

 

 

 

759

 

Unallocated expense:

 

 

 

 

 

 

 

 

 

 

 

 

Personnel related (including stock-based
  compensation)

 

 

313

 

 

 

2,150

 

 

 

948

 

 

 

5,722

 

Other research and development cost

 

 

179

 

 

 

630

 

 

 

380

 

 

 

2,212

 

Total research and development expenses

 

$

4,025

 

 

$

9,832

 

 

$

7,740

 

 

$

19,477

 

Other segment information such as non-cash stock-based compensation or depreciation and amortization or interest expense are not provided to the CODM but are included in net loss. Such amounts are detailed in the Company’s condensed consolidated statements of operations and comprehensive loss or in its condensed consolidated statements of cash flows. See the condensed consolidated financial statements for other segment financial information.

Asset information is not regularly provided to the CODM for assessing performance and allocating resources other than consolidated cash, cash equivalents and marketable debt securities, which can be found on the Company’s condensed consolidated balance sheets.

All long-lived assets of the Company are held in the United States.