v3.26.1
Segment Disclosures
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Disclosures Segment Disclosures
Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision making group, in deciding how to allocate resources in assessing performance. The Company has one reportable segment: life science. The life science segment consists of the development of clinical and preclinical product candidates for the development of the Company’s proprietary new therapies. The Company’s chief operating decision maker (“CODM”) is the Company's Chief Executive Officer.

The accounting policies of the life science segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the life science segment based on net loss. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM allocates resources and assesses performance on a consolidated basis, focused on the Company’s cash resources and an assessment of the probability of success of its ongoing research and development activities. Resource allocation decisions are informed by forecasted cash expenditures and actual expenses incurred to date.

To date, the Company has not generated any product revenue. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as it advances product candidates through all stages of development and clinical trials and, ultimately, seeks regulatory approval.

The table below summarizes the significant expense categories regularly reviewed by the CODM for the three and six months ended June 30:
Three Months Ended June 30,
20262025
Operating expenses:
Clinical product candidates$17,433 $17,710 
Pre-clinical product candidates504 231 
Employee costs- research and development3,814 2,594 
Employee costs-general and administrative2,451 2,083 
Non-cash stock compensation6,782 1,899 
Depreciation expense34 43 
Professional fees and other segment expenses4,309 2,523 
Total operating expenses35,327 27,083 
Loss from operations(35,327)(27,083)
Interest income1,286 241 
Other income (expense)(58)22 
Net loss$(34,099)$(26,820)
Six Months Ended June 30,
20262025
Operating expenses:
Clinical product candidates$38,354 $35,491 
Pre-clinical product candidates923 345 
Employee costs- research and development6,372 4,761 
Employee costs-general and administrative4,260 3,643 
Non-cash stock compensation11,248 3,941 
Depreciation expense67 86 
Professional fees and other segment expenses7,338 5,641 
Total operating expenses68,562 53,908 
Loss from operations(68,562)(53,908)
Interest income2,046 424 
Other income (expense)(171)1,191 
Net loss$(66,687)$(52,293)