v3.26.1
Segment Information
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information

4. Segment Information

The Company operates in a single segment, which is the development and commercialization of human therapeutics. The Company has determined that its chief executive officer is the Chief Operating Decision Maker (“CODM”). When evaluating the Company’s financial performance, the CODM reviews total revenues and total expenses and makes financial decisions using this information on a consolidated net loss basis. The measure of segment assets is the Company’s total assets which are reported on the condensed consolidated balance sheets. The Company’s segment revenue and long-lived assets are primarily generated and maintained in the US.

The following table summarizes significant segment expenses:

Three Months Ended March 31, 

(In thousands)

  ​

2026

  ​

2025

Viatris collaboration agreement

$

17,699

$

15,388

Total revenue

17,699

15,388

Employee-related (Research and development) 1

2,447

3,931

External-related (Research and development)

 

1,952

 

5,565

Facilities and other allocated expenses (Research and development)

 

803

 

886

Supporting general and administration functions 1

7,961

7,258

Sales and marketing, and medical affairs 1

6,910

7,305

Share-based compensation

 

3,476

 

4,877

Total recurring operating expenses

23,549

29,822

Restructuring expenses (including share-based compensation)

3,633

Total operating expenses

27,182

29,822

Loss from operations

(9,483)

(14,434)

Interest expense (non-cash)

(643)

Interest and other income, net

3,013

939

Provision for income tax benefit

1,537

559

Net loss

$

(4,933)

$

(13,579)

1 Excludes share-based compensation