v3.26.1
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The following table presents selected financial information about the Company’s single operating 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,
2026202520262025
Operating expenses
Research and development
External costs$22,418 $31,559 $33,177 $50,986 
Internally managed costs (1)4,329 4,556 9,024 9,409 
General and administrative (2)3,274 3,121 6,561 6,722 
Other segment expenses (3)2,535 2,514 4,943 5,003 
Other expense (income), net162 (800)(250)(2,374)
Segment net loss$32,718 $40,950 $53,455 $69,746 

(1) Includes Company-managed research, consultants and contractors, as well as internal personnel and operating expenses, and excludes stock-based compensation expense and depreciation.
(2) Excludes stock-based compensation expense and depreciation.
(3) Other segment expenses include stock-based compensation expense and depreciation.