| Schedule of Segment Reporting |
The table below summarizes the segment’s profit or loss, along with significant expense categories which are reviewed by the CODM, for the periods presented (in thousands).
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Three Months Ended
June 30, |
|
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Six Months Ended
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
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|
2025 |
|
Collaboration Revenue |
|
$ |
1,918 |
|
|
$ |
4,898 |
|
|
$ |
4,151 |
|
|
$ |
22,023 |
|
Significant operating expenses: |
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Research and development: |
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|
|
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Internal research expenses |
|
|
(669 |
) |
|
|
(1,699 |
) |
|
|
(1,496 |
) |
|
|
(3,974 |
) |
External research and development |
|
|
(3,822 |
) |
|
|
(5,058 |
) |
|
|
(7,870 |
) |
|
|
(10,037 |
) |
Employee-related expenses |
|
|
(2,559 |
) |
|
|
(4,791 |
) |
|
|
(7,306 |
) |
|
|
(11,104 |
) |
Facilities and overhead costs |
|
|
(1,567 |
) |
|
|
(1,945 |
) |
|
|
(3,030 |
) |
|
|
(3,908 |
) |
Professional and consulting fees |
|
|
(206 |
) |
|
|
(391 |
) |
|
|
(426 |
) |
|
|
(853 |
) |
General and administrative |
|
|
(2,490 |
) |
|
|
(2,641 |
) |
|
|
(5,844 |
) |
|
|
(9,332 |
) |
Total Operating expenses |
|
|
(11,313 |
) |
|
|
(16,525 |
) |
|
|
(25,972 |
) |
|
|
(39,208 |
) |
Interest income and other income (expense), net |
|
|
383 |
|
|
|
880 |
|
|
|
898 |
|
|
|
1,944 |
|
Interest expense |
|
|
(276 |
) |
|
|
(598 |
) |
|
|
(875 |
) |
|
|
(1,197 |
) |
Change in fair value of Convertible Note |
|
|
3,023 |
|
|
|
730 |
|
|
|
(1,585 |
) |
|
|
2,083 |
|
Loss before income taxes |
|
|
(6,265 |
) |
|
|
(10,615 |
) |
|
|
(23,383 |
) |
|
|
(14,355 |
) |
(Provision for) / benefit from income taxes |
|
|
(212 |
) |
|
|
712 |
|
|
|
(441 |
) |
|
|
1,027 |
|
Net Loss |
|
$ |
(6,477 |
) |
|
$ |
(9,903 |
) |
|
$ |
(23,824 |
) |
|
$ |
(13,328 |
) |
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