v3.26.1
Segments (Tables)
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of segment revenue and expenses to consolidated net loss

The following table reconciles segment revenue and expenses to consolidated net loss for the three months ended March 31, 2026 and 2025 (in thousands):

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Direct research and development expenses by program1,2:

 

 

 

 

 

 

Avexitide

 

$

9,990

 

 

$

5,426

 

AMX0035 - PSP

 

 

649

 

 

 

4,563

 

Other programs3

 

 

7,977

 

 

 

3,772

 

Personnel-related research and development4

 

 

8,994

 

 

 

8,358

 

Selling, general and administrative

 

 

16,169

 

 

 

15,684

 

Interest income

 

 

(2,570

)

 

 

(2,231

)

Other segment items5

 

 

75

 

 

 

335

 

Net loss

 

$

(41,284

)

 

$

(35,907

)

1. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. As the Company has one reportable segment, there were no intersegment eliminations for the three months ended March 31, 2026 and 2025.

2. Depreciation and amortization expense of $0.1 million during the three months ended March 31, 2026, and $0.2 million during the three months ended March 31, 2025, are allocated across the significant expense captions.

3. Other programs includes milestone payments totaling $4.0 million made to Gubra following the selection and handover of AMX0318 as a development candidate for PBH and other rare diseases during the three months ended March 31, 2026.

4. The Company does not allocate personnel and other similar costs to specific programs because these costs are deployed across multiple programs.

5. Other segment items primarily consists of net realized and unrealized losses on foreign exchange transactions.