v3.26.1
Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of segment revenue and expenses to consolidated net loss

The following table reconciles segment revenue and expenses to consolidated net loss for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Direct research and development expenses by program1,2:

 

 

 

 

 

 

 

 

 

 

 

 

Avexitide

 

$

9,358

 

 

$

7,105

 

 

$

19,348

 

 

$

12,531

 

AMX0035 - PSP

 

 

36

 

 

 

7,146

 

 

 

685

 

 

 

11,709

 

Other programs3

 

 

4,632

 

 

 

4,759

 

 

 

12,609

 

 

 

8,531

 

Personnel-related research and development4

 

 

9,742

 

 

 

8,207

 

 

 

18,737

 

 

 

16,565

 

Selling, general and administrative

 

 

21,925

 

 

 

15,640

 

 

 

38,093

 

 

 

31,324

 

Interest income

 

 

(2,323

)

 

 

(1,960

)

 

 

(4,893

)

 

 

(4,191

)

Other segment items5

 

 

53

 

 

 

546

 

 

 

128

 

 

 

881

 

Net loss

 

$

(43,423

)

 

$

(41,443

)

 

$

(84,707

)

 

$

(77,350

)

1. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. As the Company has one reportable segment, there were no intersegment eliminations for the three and six months ended June 30, 2026 and 2025.

2. Depreciation and amortization expense of less than 0.1 million and $0.1 million during the three and six months ended June 30, 2026, respectively, and $0.1 million and $0.3 million during the three and six months ended June 30, 2025, respectively, are allocated across the significant expense captions.

3. Other programs includes milestone payments totaling $4.0 million made to Gubra following the selection and handover of AMX0318 as a development candidate for PBH and other rare diseases during the six months ended June 30, 2026.

4. The Company does not allocate personnel and other similar costs to specific programs because these costs are deployed across multiple programs.

5. Other segment items primarily consists of net realized and unrealized losses on foreign exchange transactions.