v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Expenses and Segment Operating Loss

The following table illustrates information about significant segment expenses and segment operating loss for the years ended December 31, 2025 and 2024:

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Research and development expense (1)

 

 

 

 

 

 

     HCV external costs (2)

 

$

109,574

 

 

$

34,106

 

     COVID-19 external costs (2)

 

 

1,490

 

 

 

60,734

 

Early stage discovery external costs (2)

 

 

3,800

 

 

 

943

 

     Compensation and related expenses

 

 

18,753

 

 

 

20,448

 

     Consulting and professional fees

 

 

2,183

 

 

 

1,959

 

     Other research and development expenses

 

 

1,778

 

 

 

1,839

 

Total research and development expense

 

 

137,578

 

 

 

120,029

 

General and administrative (3)

 

 

 

 

 

 

     Compensation and related expenses

 

 

9,094

 

 

 

9,279

 

     Consulting and professional fees

 

 

12,004

 

 

 

10,031

 

     Other general and administrative

 

 

1,491

 

 

 

1,844

 

Total general and administrative

 

 

22,589

 

 

 

21,154

 

Stock based compensation

 

 

20,720

 

 

 

51,767

 

Other segment items (4)

 

 

(22,538

)

 

 

(24,564

)

Net loss

 

$

(158,349

)

 

$

(168,386

)

 

 

 

 

 

 

 

(1) Research and development expense for the years ended December 31, 2025 and 2024 excludes stock based compensation of $10,446 and $24,072, respectively.

(2) External costs consist primarily of discovery, preclinical, clinical and manufacturing related activities.

(3) General and administrative expense for the years ended December 31, 2025 and 2024 excludes stock based compensation of $10,274 and $27,695, respectively.

(4) Other segment items include Interest income and other, net and income tax benefit (expense).