| Schedule of Functional Operating Expenses |
The following table outlines the Company’s functional operating expenses (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Research and Development Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
PGN-EDODM1 direct research and development expenses |
|
$ |
5,783 |
|
|
$ |
4,688 |
|
|
$ |
11,779 |
|
|
$ |
16,396 |
|
PGN-EDO51 direct research and development expenses |
|
|
12 |
|
|
|
4,582 |
|
|
|
32 |
|
|
|
7,998 |
|
Platform and external research and development expenses |
|
|
136 |
|
|
|
65 |
|
|
|
222 |
|
|
|
435 |
|
Personnel-related (including stock-based compensation) |
|
|
4,735 |
|
|
|
5,841 |
|
|
|
9,850 |
|
|
|
13,312 |
|
Facility and related expenses |
|
|
1,207 |
|
|
|
1,318 |
|
|
|
2,417 |
|
|
|
2,581 |
|
Other research and development expenses |
|
|
649 |
|
|
|
1,897 |
|
|
|
1,227 |
|
|
|
3,047 |
|
Total research and development expense |
|
|
12,522 |
|
|
|
18,391 |
|
|
|
25,527 |
|
|
|
43,769 |
|
General and Administrative Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Personnel-related (including stock-based compensation) |
|
|
3,733 |
|
|
|
3,087 |
|
|
|
7,189 |
|
|
|
6,682 |
|
Facility and related expenses |
|
|
494 |
|
|
|
536 |
|
|
|
1,007 |
|
|
|
992 |
|
Other general and administrative expenses |
|
|
2,190 |
|
|
|
1,918 |
|
|
|
4,159 |
|
|
|
3,810 |
|
Total general and administrative expense |
|
|
6,417 |
|
|
|
5,541 |
|
|
|
12,355 |
|
|
|
11,484 |
|
Loss from operations |
|
|
(18,939 |
) |
|
|
(23,932 |
) |
|
|
(37,882 |
) |
|
|
(55,253 |
) |
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
1,093 |
|
|
|
842 |
|
|
|
2,343 |
|
|
|
1,964 |
|
Other (expense) income, net |
|
|
50 |
|
|
|
3 |
|
|
|
(5 |
) |
|
|
— |
|
Total other income (expense), net |
|
|
1,143 |
|
|
|
845 |
|
|
|
2,338 |
|
|
|
1,964 |
|
Income tax expense |
|
|
(16 |
) |
|
|
— |
|
|
|
(31 |
) |
|
|
— |
|
Net loss |
|
$ |
(17,812 |
) |
|
$ |
(23,087 |
) |
|
$ |
(35,575 |
) |
|
$ |
(53,289 |
) |
|