SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

Significant segment expenses, as provided to the CODM, are presented below:


	Three Months Ended June 30,			Six Months Ended June 30,
		2025		2024		2025		2024
		(in thousands)				(in thousands)
Segment research and development expense (a)		$	81,401	$	50,349	$	152,439	$	84,561
Segment general and administrative expense (a)		14,483		10,001		27,047		18,924
Share-based compensation expense (see Note 10)		10,844		11,767		21,064		24,455
Total operating expenses		106,728		72,117		200,550		127,940
Other items (b)		(5,993)		(7,124)		(12,903)		(14,405)
Consolidated net loss		$	100,735	$	64,993	$	187,647	$	113,535

(a) Share-based payment expense of $5,173 and $5,791 related to research and development and $5,671 and $5,976 related to general and administrative have been excluded for the three months ended June 30, 2025 and 2024, respectively, and included within share-based compensation expense. Share-based payment expense of $10,921 and $12,470 related to research and development and $10,143 and $11,985 related to general and administrative have been excluded for the six months ended June 30, 2025 and 2024, respectively, and included within share-based compensation expense.

(b) Other items consist primarily of collaboration revenue, interest income, interest expense and depreciation expense.