v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

11. Segment Information

The Company manages its operations as a single operating and reportable segment focused on the research and development of precision oncology therapies. The accounting policies of the single reportable segment are identical to those described in Note 2. The Company’s chief operating decision maker is its chief executive officer, who manages the Company’s operations on a consolidated basis, assesses performance for the reportable segment using consolidated net loss to monitor budget versus actual results and to determine how to effectively allocate the Company’s resources. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets.

The following table presents certain financial data including significant segment expenses for the Company’s reportable segment for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

ACR-368 direct research and development expenses

 

$

5,637

 

 

$

7,013

 

 

$

11,733

 

 

$

13,660

 

ACR-2316 direct research and development expenses

 

 

1,231

 

 

 

1,766

 

 

 

2,713

 

 

 

2,930

 

Other drug discovery programs direct research and development expenses

 

 

282

 

 

 

564

 

 

 

866

 

 

 

1,208

 

Personnel-related indirect research and development expenses

 

 

5,558

 

 

 

5,478

 

 

 

11,145

 

 

 

11,152

 

Facilities, supplies and other indirect research and development expenses

 

 

1,136

 

 

 

1,361

 

 

 

2,553

 

 

 

2,646

 

General and administrative expenses

 

 

4,824

 

 

 

6,467

 

 

 

9,560

 

 

 

12,715

 

Other segment items1

 

 

(704

)

 

 

(1,643

)

 

 

(1,564

)

 

 

(3,625

)

Net loss

 

$

(17,964

)

 

$

(21,006

)

 

$

(37,006

)

 

$

(40,686

)

 

1 Other segment items consist of interest income and other expense, net. Interest income consists of interest income earned on cash equivalents and investments and amortization of premiums and accretion of discounts to maturity for available-for-sale debt securities. Other expense, net primarily consists of realized and unrealized gains and losses on foreign currency transactions, state and franchise taxes, and investment management fees.