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

17. Segment Reporting

The Company operates and manages its business as one reportable and operating segment. The Company's Chief Executive Officer is the Company's chief operating decision maker (the "CODM"). The CODM reviews and evaluates net loss, as reported in the condensed consolidated statements of operations and comprehensive loss, for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods on an aggregate basis. The CODM does not review assets at a different level or category than the amounts disclosed in the condensed consolidated balance sheets as total assets. All of the Company’s long-lived assets are located in the United States.

The following is the Company’s summary of segment loss, including significant segment expenses for the three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

External research and development expenses:

 

 

 

 

 

 

CDMO, CRO and other third-party preclinical studies, clinical trials and consulting costs

 

$

6,213

 

 

$

4,812

 

Internal research and development personnel costs

 

 

1,274

 

 

 

1,069

 

Other research and development costs

 

 

85

 

 

 

149

 

General and administrative personnel expenses

 

 

1,564

 

 

 

677

 

Other general and administrative expenses

 

 

2,697

 

 

 

3,647

 

Interest expense

 

 

—

 

 

 

1,443

 

Other segment items1

 

 

(977

)

 

 

(1,601

)

Net loss

 

$

(10,856

)

 

$

(10,196

)

 

1 Other segment items include change in fair value of tranche liability, change in fair value of derivative liabilities, loss on extinguishment and on issuance of convertible promissory notes and other income, net.