| Schedule of Segment Profit or Loss, Including Segment Expenses |
The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
|
|
2025 |
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|
2026 |
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|
2025 |
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Collaboration revenue |
|
$ |
2,082 |
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|
$ |
1,907 |
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|
$ |
3,381 |
|
|
$ |
3,536 |
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Less: |
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|
|
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Personnel costs |
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|
10,656 |
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|
|
10,682 |
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|
|
21,845 |
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|
|
22,386 |
|
Clinical programs |
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|
7,432 |
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|
5,778 |
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|
|
13,598 |
|
|
|
12,061 |
|
Research activities |
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|
991 |
|
|
|
1,870 |
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|
|
2,792 |
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|
|
4,306 |
|
Facilities costs |
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|
4,239 |
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|
|
5,884 |
|
|
|
8,642 |
|
|
|
11,964 |
|
Other segment expenses (1) |
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|
9,898 |
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|
|
14,661 |
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|
|
20,638 |
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|
|
31,067 |
|
Total operating expenses |
|
|
33,216 |
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|
|
38,875 |
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|
|
67,515 |
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|
|
81,784 |
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Loss from operations |
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|
(31,134 |
) |
|
|
(36,968 |
) |
|
|
(64,134 |
) |
|
|
(78,248 |
) |
Other income (expense): |
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Interest income |
|
|
1,555 |
|
|
|
2,921 |
|
|
|
3,422 |
|
|
|
6,257 |
|
Change in fair value of stock price appreciation milestones |
|
|
(580 |
) |
|
|
(73 |
) |
|
|
(660 |
) |
|
|
207 |
|
Other income |
|
|
— |
|
|
|
50 |
|
|
|
— |
|
|
|
93 |
|
Total other income |
|
|
975 |
|
|
|
2,898 |
|
|
|
2,762 |
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|
|
6,557 |
|
Net loss |
|
$ |
(30,159 |
) |
|
$ |
(34,070 |
) |
|
$ |
(61,372 |
) |
|
$ |
(71,691 |
) |
(1) Other segment expenses include stock compensation expense, depreciation, legal fees, general and administrative expenses, and corporate expenses.
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