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

12. Segment Information

The Company operates and manages its business as one operating and reportable segment, which is the business of researching, developing and commercializing transformative therapeutics to treat a broad spectrum of retinal diseases. The

chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM uses net loss to allocate resources and assess performance when making decisions on the timing and extent of the Company's development programs for its product candidates. The assets are managed on a consolidated basis as reported on the consolidated balance sheets.

The significant expense categories within net loss are presented on the consolidated statements of operations. The research and development expenses have been disaggregated as follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Tarcocimab program expenses

 

$

54,049

 

 

$

39,496

 

 

$

90,513

 

KSI-501 and KSI-101 program expenses

 

 

28,980

 

 

 

8,495

 

 

 

7,264

 

ABC Platform and other program expenses

 

 

23,776

 

 

 

12,915

 

 

 

20,997

 

Payroll and personnel expenses

 

 

56,082

 

 

 

45,522

 

 

 

65,382

 

Facilities and other research and development expenses

 

 

19,486

 

 

 

19,667

 

 

 

22,142

 

Total research and development expenses

 

$

182,373

 

 

$

126,095

 

 

$

206,298