| Summary of Reconciles Reported Revenues to Net (Loss) Income under Significant Expense Principle |
The following table reconciles reported revenues to net (loss) income under the significant expense principle for the three and six months ended June 30, 2026 and 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Collaboration Revenue |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
20,000 |
|
|
$ |
— |
|
Research and Development Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
RAP-219 program external expenses |
|
|
34,088 |
|
|
|
9,685 |
|
|
|
49,909 |
|
|
|
17,648 |
|
Preclinical programs external expenses |
|
|
4,870 |
|
|
|
4,722 |
|
|
|
9,159 |
|
|
|
7,968 |
|
R&D personnel-related costs (including stock-based
compensation) |
|
|
10,637 |
|
|
|
6,666 |
|
|
|
21,277 |
|
|
|
13,452 |
|
Other costs |
|
|
1,819 |
|
|
|
1,607 |
|
|
|
3,785 |
|
|
|
3,184 |
|
Selling, General and Administrative Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
G&A personnel-related costs (including stock-based
compensation) |
|
|
7,085 |
|
|
|
5,045 |
|
|
|
14,068 |
|
|
|
10,004 |
|
Professional and consulting costs |
|
|
1,463 |
|
|
|
920 |
|
|
|
5,135 |
|
|
|
2,584 |
|
Facility related and other |
|
|
844 |
|
|
|
851 |
|
|
|
1,688 |
|
|
|
1,764 |
|
Loss from operations |
|
$ |
(60,806 |
) |
|
$ |
(29,496 |
) |
|
$ |
(85,021 |
) |
|
$ |
(56,604 |
) |
Interest income |
|
|
4,191 |
|
|
|
2,764 |
|
|
|
8,549 |
|
|
|
5,809 |
|
Net loss |
|
$ |
(56,615 |
) |
|
$ |
(26,732 |
) |
|
$ |
(76,472 |
) |
|
$ |
(50,795 |
) |
|