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

14. Segment Information

The Company operates under one reportable business segment to advance the development, manufacturing and commercialization of complex and innovative treatments for patients battling cancer and other life-threatening diseases. The determination of a single reportable business segment is consistent with the consolidated financial information regularly provided to the Company’s CODM. All of the Company's long-term assets and operations are located in the United States, and the measure of segment assets is reported on the condensed consolidated balance sheets as total assets. The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance, including comparing actual results to budgets and forecasts to assess variances, identify trends, and guide strategic planning.

In addition to the significant expense categories included within the consolidated statements of operations, the below disaggregated amounts comprise significant research and development and general and administrative expenses. These expenses consist of (1) clinical, manufacturing and research contracts for research and development programs, (2) personnel-related expenses, including salaries, benefits and stock-based compensation, (3) professional fees, including third-party costs for goods and services such as lab supplies and contract research, and legal and other professional expenses, and (4) facility and other overhead expenses, including depreciation, occupancy, travel, insurance and other costs. Depreciation and amortization expense is consistent with those presented in the condensed consolidated statements of cash flows.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

 

 

 

 

 

 

 

 

 

 

 

  Clinical, development and licensing expenses

 

$

1,732

 

 

$

535

 

 

$

2,944

 

 

$

1,336

 

  Personnel related expenses

 

 

1,141

 

 

 

416

 

 

 

1,887

 

 

 

882

 

  Professional fees

 

 

854

 

 

 

128

 

 

 

1,387

 

 

 

344

 

  Facility and other overhead expenses

 

 

538

 

 

 

167

 

 

 

912

 

 

 

440

 

     Total research and development

 

 

4,265

 

 

 

1,246

 

 

 

7,130

 

 

 

3,002

 

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

  Personnel related expenses

 

 

2,195

 

 

 

965

 

 

 

4,604

 

 

 

1,949

 

  Professional fees

 

 

1,962

 

 

 

397

 

 

 

4,054

 

 

 

2,004

 

  Facility and other overhead expenses

 

 

1,046

 

 

 

320

 

 

 

1,827

 

 

 

568

 

     Total general and administrative

 

$

5,203

 

 

$

1,682

 

 

$

10,485

 

 

$

4,521