v3.26.1
Segments
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segments Segments
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the Chief Operating Decision Maker (“CODM”) or decision-making group in making decisions on how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer (“CEO”). The CEO views the Company’s operations and manages the Company’s business as one operating segment, which is the business of developing and commercializing genome editing technology.
The Company’s CEO manages and allocates resources to the operations of the Company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with our long-term company-wide strategic goals. In making these decisions, the Company’s CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period
financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company’s consolidated net loss. Through this analysis, the CODM assesses performance by comparing actual consolidated net loss versus the budget, and then decides how to allocate resources to invest in the Company’s research and development programs. The measure of segment assets is reported on the condensed consolidated balance sheet as total assets.
The following table contains additional information on our consolidated revenue and net loss, including significant segment expenses (in thousands):
Three Months Ended
March 31,
20262025
Collaboration and other research and development revenues$2,831 $4,658 
Operating expenses:
Research and development1
Employee related expenses5,419 14,167 
External research and development expenses3,504 35,355 
Facility expenses3,224 9,393 
Stock-based compensation expenses544 907 
Sublicense and license fees2,411 17 
Other expenses3
2,498 5,997 
General and administrative2
Employee related expenses2,109 5,105 
Professional service expenses1,588 2,439 
Intellectual property and patent related fees3,405 2,546 
Stock-based compensation expenses1,558 2,072 
Facility and other expenses4
1,574 2,823 
Interest expense related to sale of future revenues(1,072)(2,216)
Interest income, net1,206 2,716 
Other expense, net(113)(425)
Net loss$(24,982)$(76,088)
1 For the three months ended March 31, 2026, research and development includes no restructuring and impairment charges. For the three months ended March 31, 2025, research and development includes $39,243 of restructuring and impairment charges.
2 For the three months ended March 31, 2026, general and administrative includes no restructuring and impairment charges. For the three months ended March 31, 2025, general and administrative includes $1,610 of restructuring and impairment charges.
3 Other expenses primarily consists of impairment charges, consultant fees, and office expenses.
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses, and office expenses.