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

15. Segment information

The Company has one operating and reportable segment focused on the research and development of targeted radiopharmaceuticals to treat a broad range of solid tumor cancers. The accounting policies of the single operating segment are identical to those described in Note 2, “Summary of significant accounting policies,” in the audited consolidated annual financial statements for the year ended December 31, 2025.

The chief operating decision-maker (“CODM”) manages the Company’s operations on a consolidated basis and assesses performance based on consolidated net loss, which is reported on the condensed consolidated statements of operations. The measure of segment assets is reported on the condensed consolidated balance sheets as total consolidated assets. Expenditures for additions to long-lived assets, which include purchases of property and equipment, are included in total consolidated assets reviewed by the CODM and are reported on the condensed consolidated statements of cash flows. The CODM uses consolidated net loss and budget-to-actual variances to allocate resources and assess the performance of the entire company.

Certain segment information for prior period has been recast to conform to the current period presentation. The recast did not impact the Company's previously reported consolidated results of operations.

The following information represents significant segment expenses regularly provided to the CODM with the following categories (in thousands):

 

 

Three months ended March 31,

 

 

2026

 

 

2025

 

Collaboration revenue

$

3,227

 

 

$

1,447

 

Direct external research and development expenses:

 

 

 

 

 

Discovery and development

 

(2,559

)

 

 

(3,718

)

[225Ac]Ac-AKY-1189

 

(3,745

)

 

 

(2,907

)

[225Ac]Ac-AKY-2519

 

(2,985

)

 

 

(755

)

Unallocated research and development expenses:

 

 

 

 

 

Employee-related (including stock-based compensation)

 

(7,390

)

 

 

(5,296

)

Information technology, facilities, office and other 1

 

(3,357

)

 

 

(3,187

)

General and administrative expenses:

 

 

 

 

 

Employee-related (including stock-based compensation)

 

(3,424

)

 

 

(1,995

)

Professional and consulting

 

(1,917

)

 

 

(1,351

)

Information technology, facilities, office and other 1

 

(556

)

 

 

(381

)

Other segment items 2

 

4,381

 

 

 

3,158

 

Net loss

$

(18,325

)

 

$

(14,985

)

 

1.
Information technology, facilities, office and other includes depreciation and amortization.
2.
Other segment items consist of interest income and other expense, net. Interest income consists of interest earned on cash equivalents and marketable securities and amortization or accretion of discounts or premiums on marketable securities. Other expense, net consists of gains and losses on currency revaluation related to the payment of foreign vendor invoices.