v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the Chief Operating Decision Maker (“CODM”) or decision-making group in making decisions on how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer (“CEO”). The CEO views the Company’s operations and manages the Company’s business as one operating segment, which is the business of developing and commercializing gene editing technology.
The Company’s CEO manages and allocates resources to the operations of the Company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with the Company’s long-term company-wide strategic goals. In making these decisions, the Company’s CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company’s consolidated net loss. Through this analysis, the CODM assesses performance by comparing actual consolidated net loss versus the budget, and then decides how to allocate resources to invest in the Company’s research and development programs. The measure of segment assets is reported on the condensed consolidated balance sheet as total assets.
The following table contains additional information on the Company’s consolidated revenue and net loss, including significant segment expenses (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Collaboration and other research and development revenues$11,890 $3,578 $14,721 $8,236 
Operating expenses:
Research and development1
Employee related expenses4,900 8,575 10,320 22,742 
External research and development expenses5,851 25,111 9,355 60,466 
Facility expenses3,287 4,581 6,512 13,974 
Stock-based compensation expenses644 863 1,187 1,770 
Sublicense and license fees1,643 95 4,054 112 
Other expenses3
2,516 1,787 5,013 7,785 
General and administrative2
Employee related expenses1,972 3,436 4,081 8,541 
Professional service expenses1,838 3,711 3,728 6,151 
Intellectual property and patent related fees4,557 3,221 7,659 5,767 
Stock-based compensation expenses1,549 1,801 3,108 3,873 
Facility and other expenses4
1,687 1,941 3,261 4,762 
Total operating expenses30,444 55,122 58,278 135,943 
Interest expense related to sale of future revenues(1,061)(2,020)(2,133)(4,236)
Interest income, net1,368 2,087 2,574 4,803 
Other income (expense), net17 (1,758)(96)(2,183)
Total other income (expense), net324 (1,691)345 (1,616)
Net loss$(18,230)$(53,235)$(43,212)$(129,323)
1 For the three and six months ended June 30, 2026, research and development includes $1.3 million of benefit within restructuring and impairment charges. For the three and six months ended June 30, 2025, research and development includes $24.8 million and $64.1 million of restructuring and impairment charges, respectively.
2 For the three and six months ended June 30, 2026, general and administrative includes no restructuring and impairment charges. For the three and six months ended June 30, 2025, general and administrative includes $1.3 million and $2.9 million of restructuring and impairment charges, respectively.
3 Other expenses primarily consists of impairment charges, consultant fees, and office expenses.
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses, and office expenses.