v3.26.1
Segment Reporting
6 Months Ended
Jun. 30, 2026
Segment Reporting  
Segment Reporting

Note 14—Segment Reporting

Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions on how to allocate resources and assess performance. The Company views its operations and manages the business as one operating segment. The Company’s CODM is its Chief Executive Officer. The CODM uses research and development expenses, general and administrative expenses, and net loss as measures of profit or loss to assess performance and allocate resources, all of which are presented on the face of the financial statements. The CODM also uses a further breakdown of research and development expenses to assess performance and allocate resources as presented below:

Three Months Ended

Three Months Ended

Six Months Ended

Six Months Ended

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

Collaboration revenue

$

$

$

$

109,164

Less cost and expense:

Research and development

Personnel and related costs

$

5,752

$

9,715

$

11,348

$

19,699

Facility and other allocated costs

 

3,589

 

5,525

 

7,057

10,847

Research and laboratory

 

9,454

 

10,495

 

16,922

19,970

Other research and development

 

800

 

1,124

 

1,373

2,923

General and administrative

 

5,787

 

7,805

 

12,366

16,212

Loss on lease component termination

11,145

11,145

Other segment (income) expense

(1,977)

(2,123)

(4,016)

(4,506)

Net income (loss)

$

(34,550)

$

(32,541)

$

(56,195)

$

44,019

Other segment (income)/expense includes interest income and other income (expense).