v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information BySegment

The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Total revenue

 

$

5,000

 

 

$

983

 

 

$

10,000

 

 

$

1,966

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Compensation excluding stock-based compensation

 

 

(3,861

)

 

 

(3,283

)

 

 

(8,306

)

 

 

(6,613

)

Consultants and third-party services

 

 

(2,163

)

 

 

(1,459

)

 

 

(5,127

)

 

 

(2,756

)

Stock-based compensation

 

 

(2,893

)

 

 

(994

)

 

 

(4,998

)

 

 

(1,828

)

Development and manufacturing costs

 

 

(2,388

)

 

 

(1,509

)

 

 

(4,442

)

 

 

(3,619

)

Professional services

 

 

(1,983

)

 

 

(646

)

 

 

(3,754

)

 

 

(1,389

)

Rent and facility expenses

 

 

(949

)

 

 

(1,112

)

 

 

(1,965

)

 

 

(2,221

)

Depreciation and amortization

 

 

(51

)

 

 

(137

)

 

 

(116

)

 

 

(431

)

Other income (expense), including loss on execution of
   the 2025 PIPE (1)

 

 

60,547

 

 

 

48,763

 

 

 

(56,502

)

 

 

31,344

 

Other segment items (2)

 

 

(1,082

)

 

 

(860

)

 

 

(2,118

)

 

 

(1,677

)

Segment and consolidated net income (loss)

 

$

50,177

 

 

$

39,746

 

 

$

(77,328

)

 

$

12,776

 

 

(1) Other information not reported to CODM includes loss on execution of the 2025 PIPE, loss on amendment and cancellation of warrants, interest income, gain/loss on change in fair value of tranche liability, and gain/loss on change in fair value of warrant liabilities, which are reported as other (expense) income, net on the unaudited consolidated statements of operations and comprehensive (loss) income.

(2) Other segment items primarily consist of lab expenses and information technology costs.