The following table summarizes the Company’s segment information for the periods presented (in thousands):
|
|
|
|
|
|
|
|
|
|
|
THREE MONTHS ENDED
MARCH 31, |
|
|
|
2026 |
|
|
2025 |
|
Operating expenses(1): |
|
|
|
|
|
|
Research and development personnel-related (excluding equity-based compensation) |
|
$ |
18,542 |
|
|
$ |
15,296 |
|
External research and development costs - zumilokibart (APG777) |
|
|
19,542 |
|
|
|
14,571 |
|
External research and development costs - APG990 / APG279 |
|
|
5,444 |
|
|
|
3,213 |
|
External research and development costs - APG333 / APG273 |
|
|
254 |
|
|
|
2,434 |
|
External-discovery related costs and other (2) |
|
|
8,433 |
|
|
|
5,437 |
|
General and administrative personnel-related (excluding equity-based compensation) |
|
|
7,985 |
|
|
|
5,707 |
|
General and administrative operations(3) |
|
|
5,009 |
|
|
|
5,105 |
|
Equity-based compensation |
|
|
17,155 |
|
|
|
11,126 |
|
Depreciation expense |
|
|
408 |
|
|
|
207 |
|
Interest income, net |
|
|
(8,740 |
) |
|
|
(7,840 |
) |
Provision for income taxes |
|
|
79 |
|
|
|
83 |
|
Consolidated net loss |
|
$ |
74,111 |
|
|
$ |
55,339 |
|
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (2)External-discovery related costs and other include expenses related to APG808. (3)General and administrative operations are comprised of finance, investor relations, business development, human resources, legal, facilities & IT, and certain overhead expenses.
|