| Segment Reporting |
Segment Reporting The Company views operations and manages the business as one operating and reportable segment, which is the research and development of the Company’s gene circuit platform. The Company’s Chief Operating Decision Maker (the “CODM”), its Chief Executive Officer, manages and allocates resources on a consolidated basis. As of June 30, 2025 and December 31, 2024, the Company’s cash and cash equivalents were $21.6 million and $48.3 million, respectively. A summary of the segment loss, including significant expenses, was as noted in the table below. | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in thousands) | 2025 | | 2024 | | 2025 | | 2024 | | Operating expenses: | | | | | | | | | Research and development: | | | | | | | | | External services and supplies | $ | 6,317 | | | $ | 5,459 | | | $ | 12,514 | | | $ | 10,235 | | | Personnel-related expenses, including stock-based compensation | 2,176 | | | 2,121 | | | 3,920 | | | 4,621 | | | Facilities and other | 1,311 | | | 1,316 | | | 2,427 | | | 2,559 | | | General and administrative: | | | | | | | | | External services and supplies | 1,298 | | | 1,144 | | | 3,492 | | | 2,807 | | | Personnel-related expenses, including stock-based compensation | 3,184 | | | 649 | | | 5,769 | | | 4,147 | | | Facilities and other | 1,597 | | | 1,696 | | | 3,233 | | | 3,333 | | | Depreciation and amortization | 915 | | | 971 | | | 1,840 | | | 1,955 | | | Total operating expenses | 16,798 | | | 13,356 | | | 33,195 | | | 29,657 | | | Loss from operations | (16,798) | | | (13,356) | | | (33,195) | | | (29,657) | | | Interest income | 270 | | | 236 | | | 664 | | | 568 | | | Sublease income | 1,794 | | | 1,587 | | | 3,685 | | | 3,047 | | | Other income, net | 1 | | | 330 | | | 1 | | | 2,728 | | | Net loss | $ | (14,733) | | | $ | (11,203) | | | $ | (28,845) | | | $ | (23,314) | |
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