v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Reconciliation of Significant Segment Expenses

A reconciliation of the Company’s significant segment expenses to net loss is as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

External R&D program expenses:

 

 

 

 

 

 

 

 

 

 

 

 

ARTISTRY-6

 

$

4,471

 

 

$

1,796

 

 

$

8,700

 

 

$

3,832

 

ARTISTRY-7

 

 

1,540

 

 

 

3,693

 

 

 

4,849

 

 

 

10,790

 

Early discovery programs

 

 

2,464

 

 

 

840

 

 

 

5,330

 

 

 

1,442

 

Other external R&D program expenses(1)

 

 

8,570

 

 

 

11,123

 

 

 

16,140

 

 

 

16,461

 

Total external R&D program expenses

 

 

17,045

 

 

 

17,452

 

 

 

35,019

 

 

 

32,525

 

Internal R&D expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Employee-related

 

 

4,415

 

 

 

7,394

 

 

 

11,893

 

 

 

16,508

 

Other internal R&D expenses(2)

 

 

1,817

 

 

 

2,698

 

 

 

3,790

 

 

 

5,379

 

Total internal R&D expenses

 

 

6,232

 

 

 

10,092

 

 

 

15,683

 

 

 

21,887

 

Total R&D expenses

 

 

23,277

 

 

 

27,544

 

 

 

50,702

 

 

 

54,412

 

G&A expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Employee-related

 

 

3,061

 

 

 

3,567

 

 

 

5,843

 

 

 

7,727

 

Other G&A expenses(3)

 

 

5,018

 

 

 

3,166

 

 

 

9,195

 

 

 

6,171

 

Total G&A expenses

 

 

8,079

 

 

 

6,733

 

 

 

15,038

 

 

 

13,898

 

Restructuring expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Employee-related

 

 

9,457

 

 

 

—

 

 

 

9,457

 

 

 

—

 

Other restructuring expenses(4)

 

 

8,029

 

 

 

—

 

 

 

8,029

 

 

 

—

 

Total restructuring expenses:

 

 

17,486

 

 

 

—

 

 

 

17,486

 

 

 

—

 

Other segment (income) expense(5)

 

 

(860

)

 

 

(2,713

)

 

 

(2,107

)

 

 

(5,829

)

Segment net loss

 

$

47,982

 

 

$

31,564

 

 

$

81,119

 

 

$

62,481

 

(1) Other external R&D program expenses included in segment net loss include expenses related to other clinical trials and general external program expenses.

(2) Other internal R&D expenses included in segment net loss include expenses related to occupancy and depreciation.

(3) Other G&A expenses included in segment net loss include expenses related to professional fees, information technology, depreciation, and other general G&A expenses.

(4) Other restructuring expenses include contract termination costs, impairment and asset write-offs incurred in connection with our reduction-in-force and the termination of certain development programs.

(5) Other non-operating (income) expense included in segment net loss includes interest income, tax expense, and other non-operating income and expense.