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

Note 13. Segment

The Company operates as a single operating segment that is managed on an entity-wide basis. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s chief operating decision maker uses net loss to evaluate the performance of its segment, analyze financial trends, compare the budget to the actual operating results, and make resource allocation decisions. Segment net loss represents the Company’s total net loss. All corporate costs, including allocated facilities and information technology costs, and depreciation, are included within this segment.

The significant expense categories within net loss are presented on the statements of operations. The research and development expenses have been disaggregated as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and engineering expenses

 

$

29,730

 

 

$

36,637

 

 

$

59,213

 

 

$

70,264

 

Clinical expenses

 

 

45,682

 

 

 

30,052

 

 

 

81,246

 

 

 

53,012

 

In-process research and development expenses

 

 

48

 

 

 

2,500

 

 

 

5,048

 

 

 

2,500

 

Total research and development expenses

 

 

75,460

 

 

 

69,189

 

 

 

145,507

 

 

 

125,776

 

General and administrative expenses

 

 

17,934

 

 

 

40,454

 

 

 

35,224

 

 

 

55,250

 

Other segment items#

 

 

(4,985

)

 

 

(4,432

)

 

 

(9,364

)

 

 

(7,572

)

Net loss

 

$

88,409

 

 

$

105,211

 

 

$

171,367

 

 

$

173,454

 

 

# Other segment items is comprised of interest income (expense), net and other income (expense), net.

The Company’s long-lived assets as of June 30, 2026 and December 31, 2025 were located in the United States.