v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Summary of Expense Categories Reviewed

The table below summarizes the expense categories reviewed by the CODM 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

 

External research and development(1)

 

 

 

 

 

 

 

 

 

 

 

 

Ribupatide injection

 

$

70,569

 

 

$

10,207

 

 

$

121,140

 

 

$

14,676

 

Ribupatide oral

 

 

1,329

 

 

 

—

 

 

 

1,690

 

 

 

—

 

KAI-7535

 

 

9,382

 

 

 

582

 

 

 

13,865

 

 

 

956

 

KAI-4729

 

 

378

 

 

 

106

 

 

 

788

 

 

 

338

 

Unallocated research and development and other(2)

 

 

4,745

 

 

 

1,954

 

 

 

8,319

 

 

 

2,750

 

General and administrative(3)

 

 

7,736

 

 

 

3,490

 

 

 

12,153

 

 

 

7,076

 

Personnel related (including stock-based compensation)(4)

 

 

27,234

 

 

 

14,312

 

 

 

48,078

 

 

 

25,312

 

Interest income

 

 

(9,994

)

 

 

(2,126

)

 

 

(15,710

)

 

 

(3,801

)

Other (income) expense, net

 

 

(72

)

 

 

422

 

 

 

(151

)

 

 

(377

)

Net loss

 

$

111,307

 

 

$

28,947

 

 

$

190,172

 

 

$

46,930

 

 

1)
External research and development is allocated to the Company’s programs, and includes nonclinical, clinical trial, contract manufacturing, non-employee consultant and contractor, and other research and development costs.
2)
Unallocated research and development includes external costs that are not program specific primarily related to consultant and contractor costs, in addition to research and development allocated rent expense and depreciation.
3)
General and administrative includes external costs related to the Company’s executive, finance, legal, and other administrative functions, such as professional fees for legal, patent, consulting, accounting, audit and tax services. General and administrative also includes information technology costs and general and administrative allocated rent expense and depreciation.
4)
Internal costs includes salaries and related costs, including stock-based compensation, for employees.