v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
12. Segment Information

The Company operates under one reportable business segment, providing discovery research technology to enable the discovery of next-generation therapeutics. The determination of a single reportable business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance.

In addition to the significant expense categories included within the consolidated statements of operations, certain other disaggregated amounts that comprise research and development expenses and general and administrative expenses are reviewed by the CODM. These expenses consist of (1) personnel related expenses, including salaries, benefits and share-based compensation, (2) external expenses, including third-party costs for goods and services such as lab supplies and contract research, and (3) facility and other overhead expenses, including depreciation and occupancy costs.

The following table outlines information about segment revenues, significant segment expenses, and segment net loss for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Revenue
$13,415 $3,897 $27,842 $8,051 
Cost of xPloration revenue
610 262 625 265 
Research and development expenses
Personnel related expenses
4,784 5,517 9,579 12,366 
External expenses
3,035 3,249 6,175 6,972 
Facility and other overhead expenses
1,767 2,098 3,472 4,128 
   Total research and development expenses
9,586 10,864 19,226 23,466 
General and administrative expenses
Personnel related expenses4,743 5,445 9,362 11,045 
External expenses1,701 2,035 3,495 4,085 
Facility and other overhead expenses209 204 415 469 
   Total general and administrative expenses
6,653 7,684 13,272 15,599 
Amortization of intangibles
3,053 3,228 9,081 6,456 
Other operating income (expense), net150 (1,922)104 (2,672)
Total costs and operating expenses20,052 20,116 42,308 43,114 
Total other income, net
425 463 989 1,001 
Income tax benefit (expense)353 (119)(89)(13)
Net loss
$(5,859)$(15,875)$(13,566)$(34,075)

All long-term assets are maintained in, and all net losses are attributable to, the United States of America.