v3.26.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2026
Single Reportable Segment  
Segment Reporting [Line Items]  
Summary of Expense Categories Reviewed

The table below summarizes the expense categories reviewed by the CODM for the three and nine months ended September 30, 2026 and 2025 (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

External research and development(1)

 

 

 

 

 

 

 

 

 

 

 

 

Ribupatide injection

 

$

53,966

 

 

$

12,830

 

 

$

175,106

 

 

$

27,506

 

Ribupatide oral

 

 

1,582

 

 

 

—

 

 

 

3,272

 

 

 

—

 

Safiglipron

 

 

8,606

 

 

 

3,551

 

 

 

22,471

 

 

 

4,507

 

KAI-4729

 

 

850

 

 

 

74

 

 

 

1,638

 

 

 

412

 

Unallocated research and development and other(2)

 

 

4,470

 

 

 

2,450

 

 

 

12,789

 

 

 

5,200

 

General and administrative(3)

 

 

7,060

 

 

 

3,461

 

 

 

19,213

 

 

 

10,537

 

Personnel related (including stock-based compensation)(4)

 

 

29,802

 

 

 

17,743

 

 

 

77,880

 

 

 

43,055

 

Interest income

 

 

(10,611

)

 

 

(2,251

)

 

 

(26,321

)

 

 

(6,052

)

Other (income) expense, net

 

 

(60

)

 

 

1,765

 

 

 

(211

)

 

 

1,388

 

Net loss

 

$

95,665

 

 

$

39,623

 

 

$

285,837

 

 

$

86,553

 

 

1)
External research and development is allocated to the Company’s programs, and includes nonclinical, clinical trial, contract manufacturing, non-employee consultant and contractor, and other research and development costs.
2)
Unallocated research and development includes external costs that are not program specific primarily related to consultant and contractor costs, in addition to research and development allocated rent expense and depreciation.
3)
General and administrative includes external costs related to the Company’s executive, finance, legal, and other administrative functions, such as professional fees for legal, patent, consulting, accounting, audit and tax services. General and administrative also includes information technology costs and general and administrative allocated rent expense and depreciation.
4)
Internal costs includes salaries and related costs, including stock-based compensation, for employees.