v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has one operating segment. The Company's operating segment discovers and develops therapies for CNS disorders. The Company's chief operating decision maker ("CODM"), its Chief Executive Officer, manages the Company's operations on a consolidated basis for the purposes of assessing performance and allocating resources based on net loss that also is reported on the condensed consolidated statement of operations as consolidated net loss. Net loss is used by the CODM to make key strategic and operational decisions. The operating segment's revenue is derived from a single domestic collaboration agreement from which the segment licenses certain development or product candidates and has performed research and development services. The measure of segment assets is reported on the condensed consolidated balance sheet as total consolidated assets. The majority of the Company's long-lived assets are held in the United States.
The following table presents selected financial information about the Company's single operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Collaboration revenue$— $357 $— $788 
Program-specific expenses:
Ulixacaltamide18,385 12,045 41,898 23,184 
Vormatrigine17,957 1,860 31,690 2,592 
Relutrigine10,509 1,245 15,886 2,251 
Elsunersen1,317 685 2,078 1,206 
Other early stage assets1,417 1,144 2,522 2,063 
Personnel-related expenses11,913 9,843 24,943 18,110 
Stock-based compensation expense7,770 5,879 16,556 20,354 
Depreciation expense46 107 93 219 
Other segment expenses(a)
6,753 5,037 15,129 10,183 
Interest income4,940 4,811 10,372 7,144 
Net loss$(71,127)$(32,677)$(140,423)$(72,230)
(a) Other segment expenses includes research and development and general and administrative costs not attributable to a specific program.