v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

15. Segment Reporting

Segment reporting is prepared on the same basis that the Company's Chief Executive Officer, who is its chief operating decision maker, or CODM, manages the business and makes operating decisions to allocate resources across departments and functions in line with the Company's strategic goals. The Company operates in one reportable segment which includes all activities related to the research and development of oncology targeted therapies for a range of cancer indications with high unmet medical need. The CODM assesses performance and allocates resources based on comparing actual consolidated net loss to the budget. The measure of segment assets used in determining how to manage and allocate resources is reported within the Company's unaudited condensed consolidated balance sheets as cash and cash equivalents and marketable securities.

As a single reportable segment entity, the Company’s segment performance measure is consolidated net loss. Significant segment expenses are presented below.

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

 

(in thousands)

 

Clinical, Preclinical, and R&D Operations (1)

 

$

(16,811

)

 

$

(12,123

)

 

$

(33,197

)

 

$

(23,623

)

Chemistry, Manufacturing, and Controls (1)

 

 

(6,071

)

 

 

(4,756

)

 

 

(13,028

)

 

 

(10,309

)

General and Administrative (1)

 

 

(5,731

)

 

 

(5,883

)

 

 

(11,423

)

 

 

(11,145

)

Other Segment Items (2)

 

 

1,594

 

 

 

2,425

 

 

 

3,146

 

 

 

5,034

 

Net loss

 

$

(27,019

)

 

$

(20,337

)

 

$

(54,502

)

 

$

(40,043

)

(1) Includes depreciation expense directly allocated to respective activities.

(2) Other segment items primarily include interest and accretion income, realized gains and losses, and income taxes.