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

3. Segment reporting

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), the Company's Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. When evaluating the Company's financial performance, the CODM reviews total expenses and expenses by function. Further, the CODM reviews the segment's assets based on total assets reported on the consolidated balance sheet.

The table below is a summary of the segment loss, including significant segment expenses (in thousands):

 

 

 

Three months ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Operating expenses:

 

 

 

 

 

 

Research, development, and laboratory

 

$

10,058

 

 

$

12,092

 

Facility costs

 

 

10,479

 

 

 

11,232

 

Support functions

 

 

7,268

 

 

 

8,654

 

Stock-based compensation

 

 

5,662

 

 

 

7,022

 

Technical operations and manufacturing

 

 

3,986

 

 

 

7,436

 

Other(1)

 

 

2,728

 

 

 

2,237

 

Research and development related success payments and contingent consideration

 

 

8,433

 

 

 

1,957

 

Total operating expenses

 

 

48,614

 

 

 

50,630

 

Loss from operations

 

 

(48,614

)

 

 

(50,630

)

Interest income, net

 

 

951

 

 

 

992

 

Other income, net

 

 

453

 

 

 

249

 

Net loss

 

$

(47,210

)

 

$

(49,389

)

 

(1) Other includes licensing costs, consulting fees, insurance, and business taxes for the three months ended March 31, 2026 and 2025.