v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

7. Segment Information

The Company manages the business activities at the consolidated level and operates in one operating and reportable segment. The Company’s CODM is its chief executive officer. The CODM primarily utilizes long-range financial projections and cash runway in order to allocate resources and to assess performance. As of June 30, 2026, the Company has no revenue and all the Company’s long-lived assets were located within the United States. The CODM is regularly provided with the following significant segment expenses:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Interest income

 

$

2,012

 

 

$

2,486

 

 

$

4,082

 

 

$

5,189

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Direct program expense

 

 

10,568

 

 

 

10,445

 

 

 

19,156

 

 

 

20,406

 

Personnel expense

 

 

4,522

 

 

 

4,400

 

 

 

9,311

 

 

 

8,777

 

Stock-based compensation expense

 

 

3,867

 

 

 

3,985

 

 

 

7,791

 

 

 

7,524

 

Other segment items(1)

 

 

3,220

 

 

 

2,739

 

 

 

5,625

 

 

 

5,280

 

Segment net loss

 

$

(20,165

)

 

$

(19,083

)

 

$

(37,801

)

 

$

(36,798

)

Net loss

 

$

(20,165

)

 

$

(19,083

)

 

$

(37,801

)

 

$

(36,798

)

 

(1)
Other segment items included in Segment net loss includes professional services, consulting and other outside services expenses, depreciation expense, insurance, facilities and other overhead items.