v3.26.1
Segment Reporting - Summary of Expense Categories Reviewed (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]            
Research and development $ 101,061   $ 19,522   $ 171,934 $ 29,651
General and administrative 20,312   11,129   34,099 21,457
Net loss (111,307) $ (78,865) (28,947) $ (17,983) (190,172) (46,930)
Segments            
Segment Reporting [Line Items]            
Unallocated research and development and other [1] 4,745   1,954   8,319 2,750
General and administrative [2] 7,736   3,490   12,153 7,076
Personnel related (including stock-based compensation) [3] 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
Segments | Ribupatide injection            
Segment Reporting [Line Items]            
Research and development [4] 70,569   10,207   121,140 14,676
Segments | KAI-7535            
Segment Reporting [Line Items]            
Research and development [4] 9,382   582   13,865 956
Segments | KAI-4729            
Segment Reporting [Line Items]            
Research and development [4] 378   106   788 338
Segments | Ribupatide oral            
Segment Reporting [Line Items]            
Research and development [4] $ 1,329   $ 0   $ 1,690 $ 0
[1] 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.
[2] 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.
[3] Internal costs includes salaries and related costs, including stock-based compensation, for employees.
[4] 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.