v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting
13. Segment Reporting
The Company has one operating segment. The Company’s operating segment is engaged in the research and development of prophylactic therapeutics for bleeding disorders. The Company’s
Chief Executive Officer
and Chief Financial Officer/General Manager are together considered the Company’s CODM and together manage the Company’s operations on a consolidated basis for the purposes of assessing performance and allocating resources based on net loss that also is reported on the consolidated statement of operations as consolidated net loss. This financial metric is used by the CODM to make key operating decisions such as the allocation of capital between program expenses, early-stage discovery expenses, and general and administrative expense, including headcount and facilities decisions. The measure of segment assets is reported on the balance sheet as total consolidated assets. The following table presents long-lived assets by geographic location as of March 31, 2026 and 2025 (in thousands):
 
 
  
Three Months Ended March 31,
 
 
  
2026
 
  
2025
 
United States of America
   
$
348
 
   
$
786
 
Denmark
   
 
1,239
 
   
 
1,582
 
  
 
 
     
 
 
  
  
$
1,587
 
   
$
2,368
 
  
 
 
     
 
 
  
The following table presents selected financial information about the Company’s single operating segment for the three months ended March 31, 2026 and 2025 (in thousands):
 
 
  
Three Months Ended March 31,
 
 
  
  2026  
 
  
  2025  
 
Operating Expenses
(a)
:
      
Research and development personnel-related (excluding equity-based compensation)
   
$
4,701
 
   
$
2,424
 
External research and development costs – sutacimig
   
 
5,795
 
   
 
5,953
 
External research and development costs –
HMB-002
   
 
3,506
 
   
 
4,563
 
External – discovery related costs and other
   
 
4,894
 
   
 
981
 
Personnel-related (excluding equity-based compensation)
   
 
1,032
 
   
 
760
 
External – general and administrative
   
 
2,298
 
   
 
1,343
 
Equity-based compensation expense
   
 
1,318
 
   
 
459
 
Depreciation expense
   
 
68
 
   
 
77
 
Other segment (income) expenses
(b)
   
 
282
 
   
 
(591
) 
Interest income
   
 
(1,219
) 
   
 
(473
) 
Income tax expense (benefit)
   
 
12
 
   
 
(190
) 
  
 
 
     
 
 
  
Consolidated net loss
   
$
22,687
 
   
$
15,306
 
  
 
 
     
 
 
  
 
(a)
The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(b)
Other segment expenses include foreign currency exchange loss and other income/expense.