v3.26.1
SEGMENTS (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Segment Reporting [Abstract]    
Schedule of Segment Reporting Information, by Segment
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)
  
2026
    
2025
 
Revenue
   $ 212      $ 212  
Less:
     
Research and development:
     
RLYB212
     56        2,438  
RLYB116
     396        619  
Other program candidates
     2        (163
Personnel expenses (including share-based compensation)
     2,280        2,589  
Other expenses
     137        242  
General and administrative, excluding personnel expenses
     4,223        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.
The following table summarizes the information about reported segment revenues and significant segment expenses presented on the Company’s consolidated statements of operations and comprehensive loss for the years ended December 31, 2025 and 2024:
 
    
FOR THE YEAR ENDED
DECEMBER 31,
 
(in thousands)
  
2025
   
2024
 
Revenue
   $ 858     $ 636  
Less:
    
Research and development:
    
RLYB212
     6,291       21,287  
RLYB116
     3,786       4,841  
Other program candidates
     (29     1,901  
Personnel (including share-based compensation)
     8,798       12,488  
Other
     751       990  
General and administrative, excluding personnel
     6,078       6,654  
General and administrative, personnel (including share-based compensation)
     8,247       12,971  
Other segment items*
     (24,086     (2,721
  
 
 
   
 
 
 
Segment net loss
   $ (8,978   $ (57,775
  
 
 
   
 
 
 
 
*   Other segment items includes total other income, net and gain and loss on investment in joint venture.