| Summary of Reportable Segment |
The CODM is regularly provided with the following significant segment expenses:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Revenue |
|
$ |
26,523 |
|
|
$ |
219 |
|
Employee-related expenses, excluding stock-based compensation |
|
|
10,589 |
|
|
|
6,845 |
|
Stock-based compensation |
|
|
6,015 |
|
|
|
1,482 |
|
External research and development expenses |
|
|
14,557 |
|
|
|
10,239 |
|
External general and administrative expenses |
|
|
2,506 |
|
|
|
2,652 |
|
Other segment expenses* |
|
|
6,156 |
|
|
|
4,911 |
|
Total operating expenses |
|
|
39,823 |
|
|
|
26,129 |
|
Loss from operations |
|
|
(13,300 |
) |
|
|
(25,910 |
) |
Other income, net |
|
|
5,000 |
|
|
|
4,434 |
|
Loss before provision for income taxes |
|
|
(8,300 |
) |
|
|
(21,476 |
) |
Provision for income taxes |
|
|
(337 |
) |
|
|
— |
|
Net loss |
|
$ |
(8,637 |
) |
|
$ |
(21,476 |
) |
(*) Other segment expenses include facility related and office costs, information technology costs, general laboratory costs, depreciation and amortization of property and equipment, net, and other operating expenses.
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