Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

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


	Three Months Ended March 31,
	2026		2025
Operating expenses:
Research and Development:
Development expenses	$	16,244	$	21,696
Personnel expenses	6,792		6,069
Non-cash share-based compensation expense	935		1,524
Other expenses1	2,509		1,591
General and Administrative:
Personnel expenses	5,760		5,061
Legal and professional fees	6,527		9,364
Facilities and other expenses1	2,176		1,900
Non-cash share-based compensation expense	1,961		2,411
Total operating expenses	42,904		49,616
Operating loss	(42,904)		(49,616)

Fair value change of warrant liabilities	130,916		19,460
Benefit from R&D tax credit	2,477		8,448
Interest income	2,419		2,386
Interest expense	(1,465)		(1,124)
Foreign exchange (losses) gains	(736)		2,133
Other income	484		803
Income tax benefit (expense)	11		(354)
Net income (loss)	$	91,202	$	(17,864)

1Other expenses include subscriptions and memberships, consulting fees and company insurance.