The Company has one operating and reportable segment focused on inventing and developing novel medicines for patients with depression, anxiety, and other debilitating neuropsychiatric disorders using the Company's proprietary Glyph™ Platform.

The chief operating decision-maker, or CODM, manages the Company’s operations on a consolidated basis, and assesses performance based on consolidated net loss that is reported on the condensed consolidated statements of operations and comprehensive loss. The CODM makes decisions about allocating resources and assessing performance for the entire company. The measure of segment assets is reported on the condensed consolidated balance sheet as total consolidated assets.

The following table presents certain significant segment expenses that are regularly provided to the CODM (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Research and development expenses:
GlyphAllo direct research and development expenses	$	10,189		$	7,698		$	31,283		$	15,757
GlyphAgo direct research and development expenses		3,400			4,214			13,373			8,185
Glyph2BLSD direct research and development expenses		3,173			3,241			5,372			5,688
Nonclinical and early discovery assets		1,837			978			4,190			2,766
Personnel-related (including non-cash stock-based compensation expense of $1.0 million and $0.6 million for three months ended September 30, 2026 and 2025, respectively and $2.7 million and $1.7 million for nine months ended September 30, 2026 and 2025, respectively)		4,651			3,822			13,981			10,693
Other indirect research and development expenses		641			500			1,740			1,306
Total research and development expenses		23,891			20,453			69,939			44,395
General and administrative expenses:
Personnel-related (including non-cash stock-based compensation expense of $1.5 million and $1.2 million for three months ended September 30, 2026 and 2025, respectively and $39.1 million and $3.5 million for nine months ended September 30, 2026 and 2025, respectively)		3,848			3,179			46,140			9,440
Other general and administrative expenses(1)		2,606			1,809			7,616			6,260
Total general and administrative expenses		6,454			4,988			53,756			15,700
Other segment items(2)		(3,951	)		(2,897	)		(9,293	)		(9,349	)
Net loss	$	26,394		$	22,544		$	114,402		$	50,746

(1)

Other general and administrative expenses include professional fees, facilities, depreciation, IT, and other expenses.

(2)

Other segment items include interest income, net, research and development tax credit, income tax provision, and other income (expense), net.