v3.26.1
SEGMENTS
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENTS SEGMENTS
The Company defines its segments on the basis of the way in which internally reported financial information is regularly reviewed by the chief operating decision maker ("CODM") to analyze financial performance, make decisions, and allocate resources. The Company’s CODM consists of its Chief Executive Officer and Chief Financial Officer. The Company manages its operations as a single operating and reportable segment and the measure of segment profit or loss is net loss. The CODM uses net loss in the budget and forecasting process and considers budget-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources.
The following table summarizes the information about reported segment revenues and significant segment expenses presented on the Company's condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2026 and 2025:

FOR THE THREE MONTHS ENDED
MARCH 31,
(in thousands)20262025
Revenue$212 $212 
Less:
Research and development:
RLYB21256 2,438 
RLYB116396 619 
Other program candidates2 (163)
Personnel expenses (including share-based compensation)2,280 2,589 
Other expenses137 242 
General and administrative, excluding personnel expenses4,223 1,525 
General and administrative, personnel expenses (including share-based compensation)1,851 2,632 
Other segment items*(455)(231)
Segment net loss$(8,278)$(9,439)

*Other segment items include total other income, net and loss on investment in joint venture.