v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
17. Segment Reporting
The Company has one reportable segment relating to the research and development of its research programs, CR-001, CR-002, and CR-003. The Company’s CODM, its Chief Executive Officer, manages the Company’s operations on a company-wide basis for the allocation of resources and the assessment of performance. The Company’s measure of segment profit or loss used to assess performance and allocate resources is net loss and comprehensive loss. Although the Company’s financial reporting package that is reviewed and approved by the CODM disaggregates significant expenses such as program-level external research and development costs, personnel costs, including share-based compensation expense, and professional and consulting fees, all decisions made by the CODM are based upon reviewing operating metrics and performance indications at the Company-wide level. The CODM uses net loss to evaluate loss generated from the Company’s business activities in deciding how to allocate company resources and monitoring budget versus actual results. Assets are also managed on a Company-wide basis.
The table below is a summary of the segment loss, including significant segment expenses (in thousands):
Three Months Ended
June 30, 2026		Six Months Ended
June 30, 2026		Three Months Ended June 30, 2025Six Months Ended June 30, 2025
License revenue$— $1,039 $— $— 
Less:
CR-001 external research and development costs6,305 11,384 3,415 9,683 
CR-002 external research and development costs6,111 9,696 3,415 4,480 
Discovery external research and development costs(1)
91 112 556 1,424 
Personnel costs11,243 21,888 9,347 12,437 
Milestone and license fees(2)
— 2,500 855 1,820 
Professional and other fees(3)
4,384 8,322 3,442 5,411 
Other expense (income)(3,297)(4,743)760 1,683 
Net loss and comprehensive loss$(24,837)$(48,120)$(21,790)$(36,938)
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(1)Discovery external research and discovery costs include costs associated with CR-003 and other candidate discovery activities.
(2)Milestone and license fees include a $2.5 million payment to Paragon related to the first dosing of a human patient in a Phase 1 trial for CR-001 per the CR-001 License Agreement.
(3)Professional and other fees includes professional fees, consulting fees, office and facilities expense, and miscellaneous other expense.
For the three and six months ended June 30, 2026, all of the Company’s revenues were earned from a license agreement with a single customer located in China. As of June 30, 2026, all of the Company’s long-lived assets are located in the United States.