| Schedule of Reconciliation of the Company's Net Loss |
The following table presents the significant segment expenses regularly provided to the CODM and a reconciliation to net loss (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative expenses |
|
$ |
9,769 |
|
|
$ |
2,438 |
|
|
$ |
17,228 |
|
|
$ |
5,446 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Schizophrenia programs |
|
|
31,488 |
|
|
|
(590 |
) |
|
|
37,239 |
|
|
|
487 |
|
Bipolar depression programs |
|
|
2,666 |
|
|
|
— |
|
|
|
5,672 |
|
|
|
— |
|
Formulation and CMC |
|
|
2,977 |
|
|
|
1,020 |
|
|
|
5,306 |
|
|
|
1,673 |
|
Preclinical and other direct expenses |
|
|
1,426 |
|
|
|
78 |
|
|
|
1,988 |
|
|
|
117 |
|
Total direct research and development expenses |
|
|
38,557 |
|
|
|
508 |
|
|
|
50,205 |
|
|
|
2,277 |
|
Personnel-related |
|
|
5,248 |
|
|
|
1,231 |
|
|
|
7,335 |
|
|
|
2,317 |
|
Consulting and other |
|
|
341 |
|
|
|
682 |
|
|
|
1,251 |
|
|
|
1,248 |
|
Total indirect and unallocated research and development expenses |
|
|
5,589 |
|
|
|
1,913 |
|
|
|
8,586 |
|
|
|
3,565 |
|
Total research and development expenses |
|
|
44,146 |
|
|
|
2,421 |
|
|
|
58,791 |
|
|
|
5,842 |
|
Total operating loss |
|
|
(53,915 |
) |
|
|
(4,859 |
) |
|
|
(76,019 |
) |
|
|
(11,288 |
) |
Non-operating income (loss) |
|
|
2,312 |
|
|
|
(12 |
) |
|
|
5,362 |
|
|
|
1,111 |
|
Net loss |
|
$ |
(51,603 |
) |
|
$ |
(4,871 |
) |
|
$ |
(70,657 |
) |
|
$ |
(10,177 |
) |
|