v3.26.1
SEGMENT INFORMATION (Details)
3 Months Ended
Mar. 31, 2026
USD ($)
segment
Mar. 31, 2025
USD ($)
SEGMENT INFORMATION    
Number of operating segment | segment 1  
Number of reportable segment | segment 1  
Research and development expense:    
Total research and development expense $ 27,376,912 $ 18,915,572
General and administrative expense:    
Total general and administrative expense 9,395,941 6,067,376
LOSS FROM OPERATIONS (36,772,853) (24,982,948)
Investment income 2,904,506 729,542
Total non-operating income, net 2,831,508 591,354
Loss before income taxes (33,941,345) (24,391,594)
(Provision for) benefit from income taxes 0 0
NET LOSS (33,941,345) (24,391,594)
Single reportable segment    
Research and development expense:    
Total research and development expense, excluding non-cash expense 23,969,416 15,962,024
Stock-based compensation expense 3,126,181 2,738,584
Depreciation and amortization 281,315 214,964
Total research and development expense 27,376,912 18,915,572
General and administrative expense:    
Compensation and benefits 2,234,948 1,500,843
Other G&A segment expenses 4,115,764 1,375,233
Total general and administrative expense, excluding non-cash expense 6,350,712 2,876,076
Stock-based compensation expense 2,791,874 3,000,814
Depreciation and amortization 253,355 190,486
Total general and administrative expense 9,395,941 6,067,376
LOSS FROM OPERATIONS (36,772,853) (24,982,948)
Investment income 2,904,506 729,542
Other income (expense) (72,998) (138,188)
Total non-operating income, net 2,831,508 591,354
Loss before income taxes (33,941,345) (24,391,594)
NET LOSS (33,941,345) (24,391,594)
Single reportable segment | Compensation and benefits    
Research and development expense:    
Total research and development expense, excluding non-cash expense 7,971,816 5,410,424
Single reportable segment | Duchenne muscular dystrophy program (Deramiocel)    
Research and development expense:    
Total research and development expense, excluding non-cash expense 13,032,167 7,705,195
Single reportable segment | Exosomes platform research    
Research and development expense:    
Total research and development expense, excluding non-cash expense 809,295 1,520,934
Single reportable segment | Other R&D segment expenses    
Research and development expense:    
Total research and development expense, excluding non-cash expense $ 2,156,138 $ 1,325,471