| Summary of Segment Loss |
The following is the Company’s summary of segment loss, including significant segment expenses for the three and six months ended June 30, 2026 and 2025 (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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External research and development expenses: |
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CDMO, CRO and other third-party clinical trials and consulting costs |
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$ |
7,395 |
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$ |
6,915 |
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$ |
13,608 |
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$ |
11,727 |
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Internal research and development personnel costs |
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1,496 |
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|
1,175 |
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2,770 |
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|
2,244 |
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Other research and development costs |
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127 |
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350 |
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|
212 |
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|
499 |
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General and administrative personnel expenses |
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1,220 |
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1,094 |
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2,785 |
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1,771 |
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Other general and administrative expenses |
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2,148 |
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2,722 |
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4,844 |
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6,369 |
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Interest expense |
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— |
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— |
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— |
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1,443 |
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Other segment items1 |
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(871 |
) |
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(906 |
) |
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(1,848 |
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(2,507 |
) |
Net loss |
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$ |
(11,515 |
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$ |
(11,350 |
) |
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$ |
(22,371 |
) |
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$ |
(21,546 |
) |
1 Other segment items include change in fair value of tranche liability, change in fair value of derivative liabilities, loss on extinguishment and on issuance of convertible promissory notes and other income, net.
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