v3.26.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Schedule of Segment Reporting

The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company’s single reporting segment. A reconciliation to the consolidated net loss for the three and six months ended June 30, 2026 and 2025 is included at the bottom of the table below (in thousands):

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Tegoprubart - kidney transplantation programs

 

$

5,692

 

 

$

8,705

 

 

$

11,106

 

 

$

17,237

 

Tegoprubart - other development programs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(168

)

Manufacturing

 

 

7,161

 

 

 

7,626

 

 

 

14,947

 

 

 

9,295

 

Personnel-related expenses

 

 

4,095

 

 

 

3,697

 

 

 

7,898

 

 

 

7,144

 

Stock-based compensation

 

 

3,154

 

 

 

2,694

 

 

 

5,356

 

 

 

5,558

 

Other segment items*

 

 

2,767

 

 

 

2,011

 

 

 

4,743

 

 

 

3,631

 

Total operating expenses

 

 

22,869

 

 

 

24,733

 

 

 

44,050

 

 

 

42,697

 

Loss from operations

 

 

(22,869

)

 

 

(24,733

)

 

 

(44,050

)

 

 

(42,697

)

Other income, net

 

 

862

 

 

 

1,224

 

 

 

1,980

 

 

 

2,633

 

Change in fair value of warrant liabilities

 

 

(9,623

)

 

 

12,293

 

 

 

(28,585

)

 

 

22,353

 

Net loss

 

$

(31,630

)

 

$

(11,216

)

 

$

(70,655

)

 

$

(17,711

)

* Other segment items included in total operating expenses primarily consist of consulting, professional fees, facilities, insurance and information technology.