v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information
12. Segment Information

The Company operates under one reportable business segment, providing discovery research technology to enable the discovery of next-generation therapeutics. The determination of a single reportable business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). 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.

In addition to the significant expense categories included within the consolidated statements of operations, certain other disaggregated amounts that comprise research and development expenses and general and administrative expenses are reviewed by the CODM. These expenses consist of (1) personnel related expenses, including salaries, benefits and share-based compensation, (2) external expenses, including third-party costs for goods and services such as lab supplies and contract research, and (3) facility and other overhead expenses, including depreciation and occupancy costs.

The following table outlines information about segment revenues, significant segment expenses, and segment net loss for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2026202520262025
Revenue
$3,993 $2,239 $31,835 $10,290 
Cost of xPloration revenue
309 29 934 294 
Research and development expenses
Personnel related expenses
4,577 5,552 14,156 17,918 
External expenses
3,150 2,733 9,325 9,705 
Facility and other overhead expenses
1,826 2,094 5,298 6,222 
   Total research and development expenses
9,553 10,379 28,779 33,845 
General and administrative expenses
Personnel related expenses4,839 5,074 14,201 16,119 
External expenses2,198 1,505 5,693 5,590 
Facility and other overhead expenses207 198 622 667 
   Total general and administrative expenses
7,244 6,777 20,516 22,376 
Amortization of intangibles
3,053 3,228 12,134 9,684 
Other operating expense (income), net202 (34)306 (2,706)
Total costs and operating expenses20,361 20,379 62,669 63,493 
Total other income, net
513 454 1,502 1,455 
Income tax benefit127 1,161 38 1,148 
Net loss
$(15,728)$(16,525)$(29,294)$(50,600)

All long-term assets are maintained in, and all net losses are attributable to, the United States of America.