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

7. Segment Information

The Company operates and manages its business as one operating and reportable segment, which is the business of researching, developing and commercializing transformative therapeutics to treat a broad spectrum of retinal diseases. The chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM uses net loss to allocate resources and assess performance when making decisions on the timing and extent of the Company's development programs for its product candidates. The assets are managed on a consolidated basis as reported on the condensed consolidated balance sheets.

The significant expense categories within net loss are presented on the condensed consolidated statements of operations. 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

 

Tarcocimab program expenses

 

$

9,406

 

 

$

11,886

 

 

$

19,351

 

 

$

26,162

 

KSI-501 program expenses

 

 

12,746

 

 

 

3,862

 

 

 

22,603

 

 

 

7,162

 

KSI-101 program expenses

 

 

12,279

 

 

 

1,447

 

 

 

19,279

 

 

 

2,364

 

ABC Platform and other program expenses

 

 

3,607

 

 

 

6,421

 

 

 

7,373

 

 

 

12,066

 

Payroll and personnel expenses

 

 

13,672

 

 

 

14,109

 

 

 

27,851

 

 

 

28,379

 

Facilities and other research and development expenses

 

 

4,373

 

 

 

5,035

 

 

 

8,173

 

 

 

10,271

 

Total research and development expenses

 

$

56,083

 

 

$

42,760

 

 

$

104,630

 

 

$

86,404

 

 

Beginning in 2026, KSI-501 and KSI-101 program expenses are presented as separate line items given increased clinical activities within both programs. Previously, the two programs were presented as a single line item.