| Schedule of Segment Reporting Information, by Segment |
The following table presents reportable segment loss, including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the years ended December 31, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | Years Ended December 31, | | 2025 | | 2024 | Revenue | $ | 15,000 | | | $ | — | | Less: | | | | | cleminorexton¹ | (78,479) | | | (31,876) | | | Other Orexin program expenses¹ | (50,969) | | | (9,567) | | | LockBody technology platform expenses | (11,970) | | | (10,886) | | Discontinued R&D program expenses | (3,698) | | | (90,261) | | | Non-program specific expenses: | | | | | Personnel expenses¹ | (29,932) | | | (21,580) | | | Research tax incentives | 22,669 | | | 30,942 | | | Other internal R&D expenses | (4,260) | | | (2,149) | | | General and administrative expenses² | (35,091) | | | (32,132) | | Share-based compensation | (30,962) | | | (33,546) | | Interest income | 20,527 | | | 14,016 | | Interest expense | (11,459) | | | (10,090) | | Loss on extinguishment of debt | — | | | (34,097) | | Other segment items3 | 2,911 | | | (1,687) | | Income tax (expense) benefit | (1,819) | | | (2,844) | | Consolidated net loss | $ | (197,532) | | | $ | (235,757) | | | | | | | ¹ Beginning December 31, 2025, expenses related to the cleminorexton trial have been identified as significant segment expenses. The expenses for this trial have been recast for periods prior to December 31, 2025. These amounts were previously combined and disclosed under “OX2R program expenses” for the year ended December 31, 2024. | | | | | ² Excludes share-based compensation which is presented separately below | | | | 3 Other segment items includes Other non-operating income (expense), net | | | |
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