| Schedule of Segment Net Loss, Including Disaggregated Components of Operating Expenses |
The Company's consolidated and segment net loss, including disaggregated components of operating expenses is as follows (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Collaboration revenue |
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$ |
937 |
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$ |
510 |
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$ |
1,503 |
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$ |
1,150 |
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Operating expenses: |
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Research and development: |
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Verekitug program: |
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Asthma indication |
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13,236 |
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6,935 |
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23,257 |
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13,102 |
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COPD indication |
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6,803 |
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— |
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12,490 |
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— |
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CRSwNP indication |
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2,238 |
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2,072 |
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5,001 |
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3,636 |
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Manufacturing costs |
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10,000 |
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1,416 |
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12,129 |
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1,641 |
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Personnel expenses |
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4,509 |
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2,404 |
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8,214 |
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4,839 |
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Professional fees and other |
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1,079 |
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1,242 |
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2,571 |
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2,542 |
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Total research and development expenses |
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37,865 |
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14,069 |
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63,662 |
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25,760 |
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General and administrative: |
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Personnel expenses |
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3,773 |
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2,313 |
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8,005 |
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4,689 |
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Professional fees |
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2,397 |
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1,334 |
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3,893 |
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2,461 |
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Other |
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1,249 |
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334 |
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2,303 |
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793 |
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Total general and administrative expenses |
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7,419 |
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3,981 |
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14,201 |
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7,943 |
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Total operating expenses |
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45,284 |
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18,050 |
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77,863 |
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33,703 |
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Loss from operations |
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(44,347 |
) |
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(17,540 |
) |
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(76,360 |
) |
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(32,553 |
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Other income (expense): |
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Change in fair value of preferred stock tranche right liability |
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— |
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— |
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— |
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2,859 |
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Interest income |
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4,431 |
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2,877 |
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9,174 |
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4,143 |
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Other expense, net |
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(50 |
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(15 |
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(50 |
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(21 |
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Total other income, net |
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4,381 |
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2,862 |
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9,124 |
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6,981 |
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Segment and consolidated net loss |
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$ |
(39,966 |
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$ |
(14,678 |
) |
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$ |
(67,236 |
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$ |
(25,572 |
) |
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