The following table provides the operating financial results of the Company’s single reportable segment (in thousands):


	Three Months Ended March 31,
	2026		2025
Significant segment expenses
Research and development
PIPE-791	$	6,051	$	5,554
PIPE-307	251		2,615
CTX-343	273		1,378
Discovery programs	1,426		1,382
Unallocated internal costs(1)	3,647		2,783
General and administrative	5,256		4,398
Total operating expenses	16,904		18,110
Loss from operations	(16,904)		(18,110)
Interest income	2,505		2,250
Other segment items(2)	(57)		(130)
Net loss	$	(14,456)	$	(15,990)

(1)Unallocated internal research and development costs include employee-related expenses that cannot be directly attributable to a specific research project, stock-based compensation for employees engaged in research and development functions, facilities, depreciation and other related expenses.

(2)Other segment items include other expense, net which primarily consists of non-operating items.