v3.26.1
Segment reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment reporting Segment reporting
The Company has one reportable segment.
The Company’s Chief Operating Decision Maker (the “CODM”), its Chief Executive Officer, manages the Company’s operations on a consolidated basis for the purposes of allocating resources, making operating decisions and evaluating performance. When evaluating the Company’s financial performance, the CODM regularly reviews total expenses by expense category and the CODM makes decisions using this information on a consolidated basis. There are no other measures of profitability used by the CODM, other than those disclosed in these condensed consolidated financial statements.
The table below is a summary of the significant segment expenses (in thousands) provided to the Company’s CODM on a regular basis:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Drug creation programs and platform (1)
$6,045 $5,289 $12,128 $9,295 
External preclinical and clinical development (2)
6,852 5,370 11,139 8,054 
Personnel (3)
9,569 10,283 18,815 20,148 
Stock-based compensation5,245 4,752 9,625 9,697 
General & administrative4,032 3,538 8,366 7,860 
Depreciation and amortization2,696 3,000 5,424 6,072 
Other (gain)/loss, net (4)
37 (246)40 (232)
Total operating expenses$34,476 $31,986 $65,537 $60,894 
(1) “Drug creation programs and platform” consists of research and development costs incurred related to the Company’s internally developed programs and drug creation partnership programs for activities prior to the nomination of a development candidate and the continued development of the Company’s Integrated Drug Creation platform.
(2) “External preclinical and clinical development” expense consists of external costs incurred following the Company’s nomination of a development candidate, including all subsequent contract research services, contract manufacturing, consulting fees, and other external costs related to preclinical and clinical development. 
(3) “Personnel” expense consists of all employee wages, taxes, benefits, severance, and other employee related costs.
(4) “Other (gain)/loss, net” consists of non-routine gains and losses.