v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate and manage our business as one reportable segment and one operating segment, which is the business of developing allogeneic CAR-T cell therapies. Operating segments are defined as components of an entity about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance; the CODM is our president and chief executive officer. Our CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on our consolidated statements of operations. The measure of segment assets is reported on our consolidated balance sheets as total consolidated assets. All our material long-lived assets are located in the United States. Our CODM uses consolidated net loss to evaluate our spending and monitor our budget versus actual results to assess performance of the segment and to allocate resources across our company. Factors used in determining the reportable segment include the nature of our operating activities, our company’s organizational and reporting structures, and the type of information reviewed by our CODM to allocate resources and evaluate financial performance.
The following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable segment for the periods indicated:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Licensing and other third-party revenue$1,499 $2,667 $3,896 $5,020 
Less:
Research and development:
External costs
9,566 15,113 20,256 36,972 
Internal costs(1)
7,641 10,246 15,820 21,123 
Total research and development
17,207 25,359 36,076 58,095 
General and administrative(2)
6,530 8,463 13,332 15,947 
Other segment items(3)(4)
3,101 25,581 6,107 30,627 
Other income, net
(1,057)(2,638)(2,252)(5,560)
Segment and consolidated net loss
$(24,282)$(54,098)$(49,367)$(94,089)

(1)Research and development internal costs for the three months ended June 30, 2026, and June 30, 2025, exclude $1.1 million and $1.3 million of stock-based compensation expense, respectively, and $0.6 million and $1.0 million of depreciation and amortization expenses, respectively. Research and development internal costs for the six months ended June 30, 2026, and June 30, 2025, exclude $2.3 million and $3.0 million of stock-based compensation expense, respectively, and $1.2 million and $2.1 million of depreciation and amortization expenses, respectively.
(2)General and administrative expenses for the three months ended June 30, 2026, and June 30, 2025, excludes $1.3 million and $1.8 million of stock-based compensation expense, respectively, and less than $0.1 million and $0.1 million of depreciation and amortization expenses, respectively. General and administrative expenses for the six months ended June 30, 2026, and June 30, 2025, excludes $2.6 million and $4.0 million of stock-based compensation expense, respectively, and $0.1 million and $0.2 million of depreciation and amortization expenses, respectively.
(3)Other segment items for the three and six months ended June 30, 2026, include stock-based compensation and depreciation and amortization.
(4)Other segment items for the three and six months ended June 30, 2025, include impairment charges, impairment of equity investment, stock-based compensation, and depreciation and amortization.