v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We operate in a single reportable segment. The CODM, our President and Chief Executive Officer, assesses performance based on condensed consolidated net loss as reported on the condensed consolidated statement of operations and comprehensive loss, supplemented by certain additional significant expense details reflected in the table below. There have been no changes in the determination of segments or the measurements used to determine reported segment loss or segment total assets discussed in our FY 2025 Form 10-K.
Segment revenue and significant segment expenses regularly reported to the CODM are included within the table below and are reconciled to condensed consolidated net loss:
Three months ended June 30,Six months ended June 30,
2026202520262025
Revenue:
Product revenue, net$24,038 $— $34,344 $— 
Collaboration and license revenue1,080 1,031 1,508 1,392 
Total revenue25,118 1,031 35,852 1,392 
Less:
Cost of product revenue(154)— (354)— 
Research and development
Paltusotine(13,702)(14,478)(25,571)(31,729)
Atumelnant(24,806)(11,161)(45,073)(18,910)
Other research and development programs(8,892)(9,607)(18,559)(16,665)
Research and development personnel expenses(29,330)(25,138)(59,979)(50,765)
Research and development stock-based compensation(14,004)(13,099)(33,332)(24,918)
Other research and development (1)(9,116)(6,818)(17,417)(13,554)
Total research and development expenses(99,850)(80,301)(199,931)(156,541)
Selling, general and administrative
Other selling, general and administrative expenses (2)(26,299)(23,471)(46,741)(38,245)
Selling, general and administrative personnel expenses(20,397)(13,346)(40,434)(25,439)
Selling, general and administrative stock-based compensation(10,877)(13,025)(21,229)(21,684)
Total selling, general and administrative expenses(57,573)(49,842)(108,404)(85,368)
Total other income, net11,604 13,475 24,137 28,106 
Segment and consolidated net loss$(120,855)$(115,637)$(248,700)$(212,411)
(1)Other research and development is comprised of non-personnel related research and development indirect costs incurred for the benefit of multiple research and development programs, including depreciation, and other facility-based expenses, such as rent expense.
(2)Other selling, general and administrative expenses is comprised of non-personnel related indirect costs incurred for the benefit of multiple administrative functions, including sales and marketing expenses, facility-related costs, legal and professional fees, insurance costs and costs to operate a public company.
During 2025, we updated the presentation of certain segment expenses. The information presented for the periods ended June 30, 2025 have been updated to conform.