v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
10. Segment Reporting
The Company has one operating segment. The table below is a summary of the segment loss, including significant segment expenses (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating expenses:
Research and Development:
Development expenses
$19,210 $21,442 $35,454 $43,138 
Personnel expenses
6,568 6,113 13,360 12,182 
Non-cash share-based compensation expense
1,202 1,289 2,137 2,813 
Facilities and other expenses1
2,195 1,481 4,704 3,072 
General and Administrative:
Personnel expenses
8,212 4,618 13,972 9,679 
Legal and professional fees
5,878 3,367 12,405 12,731 
Facilities and other expenses1
6,282 2,316 8,458 4,216 
Non-cash share-based compensation expense
2,825 2,307 4,786 4,718 
Total operating expenses 52,372 42,933 95,276 92,549 
Loss from operations
(52,372)(42,933)(95,276)(92,549)
Fair value change of warrant liabilities
(205,577)(2,540)(74,661)16,920 
Interest income3,744 1,898 6,163 4,284 
Benefit from R&D tax credit2,583 4,287 5,060 12,735 
Interest expense(1,483)(1,151)(2,948)(2,275)
Foreign exchange (losses) gains
(904)2,349 (1,640)4,482 
Other income (expense)
546 (176)1,030 627 
Income tax expense
(331)(137)(320)(491)
Net loss
$(253,794)$(38,403)$(162,592)$(56,267)
1Other expenses include subscriptions and memberships, consulting fees and company insurance.