v3.25.2
Segments
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments Segments
The Company operates and manages its business as one reportable and operating segment, which is the business of developing and commercializing novel therapies for patients. The Company’s chief executive officer, who is the chief operating decision maker (“CODM”), reviews financial information on an aggregate basis for allocating and evaluating financial performance. The Company defines its segments based on the way in which internally reported financial information is regularly reviewed by the CODM to analyze financial performance, make decisions, and allocate resources. The CODM assesses performance for the segment and decides how to allocate resources based on net loss which is also reported on the Statement of Operations and Comprehensive Loss as consolidated net loss.
All long-lived assets are maintained in the United States of America.
Our CODM is regularly provided with more detailed expense information than what is included in our Statement of Operations and Comprehensive Loss. The table below shows a reconciliation of the Company’s net loss, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under U.S. GAAP to the Company’s total net loss in the statements of operations (in thousands).
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating expenses:
Bexotegrast - clinical trial and third party contracting costs13,359 26,360 34,948 43,577 
Employee-related expenses - research and development (excluding stock-based compensation) 10,344 8,381 20,830 17,519 
General and administrative costs (excluding stock-based compensation)8,947 8,476 19,236 17,126 
Other segment items12,942 17,422 29,513 34,809 
Segment loss45,592 60,639 104,527 113,031 
Reconciliation of segment loss
Interest and other (income) expense, net(3,101)(5,653)(6,669)(11,535)
Interest expense809 868 1,608 1,313 
Net loss$43,300 $55,854 $99,466 $102,809 
Other segment items include total stock-based compensation and research and development costs related to other pipeline programs and other non-program costs (excluding employee-related expenses).