v3.26.1
Segment Reporting
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

14. Segment Reporting

The Company operates and manages its business as one reportable and operating segment, which is the business of developing therapies for autoimmune and inflammatory diseases. The chief executive officer, who is the chief operating decision maker (“CODM”), reviews financial information on an aggregate basis for purposes of allocating resources, assessing performance and monitoring budget versus actuals. The CODM assesses performance based on net loss as reported on the statement of operations and comprehensive loss. The measure of segment assets is reported on the balance sheet as total assets. Further, segment depreciation expense and segment asset additions are consistent with amounts reported within the statement of cash flows given the Company's operations are aggregated within a single reportable segment. All of the Company’s long-lived assets are located in the United States. Asset and other balance sheet information is not reported to the CODM.

The following table sets forth the Company’s summary of segment loss, including significant segment expenses for the years ended December 31, 2025 and 2024 (in thousands):

 

 

 

 

Year ended December 31,

 

 

 

 

2025

 

 

 

2024

 

Research and development expenses:

 

 

 

 

 

 

 

 

KYV-101

 

$

 

76,054

 

 

$

 

61,884

 

Other programs

 

 

 

3,245

 

 

 

 

3,947

 

Other research and development expenses(a)

 

 

 

54,421

 

 

 

 

46,642

 

General and administrative expenses(b)

 

 

 

36,107

 

 

 

 

30,131

 

Interest income

 

 

 

(9,094

)

 

 

 

(15,359

)

Interest expense and other expense, net

 

 

 

574

 

 

 

 

232

 

Segment loss and net loss

 

$

 

161,307

 

 

$

 

127,477

 

 

(a) Primarily includes personnel costs, license fees, R&D consulting services, unallocated CRO and CMO costs and allocated overhead and facilities expenses.

(b) Primarily includes personnel costs, allocated overhead and facilities expenses, legal, IT, accounting and general and administrative expenses.