| Summary of Reconciliation of Reported Operating Expenses to Net Loss Under the Significant Expenses Principle |
The following table reconciles reported operating expenses to net loss under the significant expense principle for the three and six months ended June 30, 2026 and 2025:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(in thousands) |
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2026 |
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2025 |
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2026 |
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2025 |
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Operating expenses |
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Research and development: |
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Revita direct program expenses |
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$ |
3,676 |
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$ |
8,181 |
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$ |
8,642 |
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$ |
14,935 |
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Rejuva direct program expenses |
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2,010 |
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4,661 |
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3,913 |
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|
7,878 |
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Indirect expenses |
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2,059 |
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|
1,840 |
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3,950 |
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|
3,853 |
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Personnel-related expenses |
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6,067 |
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6,469 |
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12,905 |
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13,920 |
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Total research and development expenses |
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13,812 |
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21,151 |
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29,410 |
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40,586 |
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Selling, general and administrative |
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5,284 |
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4,928 |
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10,506 |
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10,252 |
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Total operating expenses |
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19,096 |
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|
26,079 |
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|
39,916 |
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|
50,838 |
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Other income (expense), net |
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(6,442 |
) |
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(1,810 |
) |
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|
23,596 |
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|
|
(786 |
) |
Segment net loss |
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$ |
(25,538 |
) |
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$ |
(27,889 |
) |
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$ |
(16,320 |
) |
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$ |
(51,624 |
) |
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