v3.26.3
Segment Reporting - Summary of Expense Categories Reviewed (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Jun. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Segment Reporting [Line Items]                
Research and development $ 84,667     $ 26,994     $ 256,601 $ 56,645
General and administrative 21,669     13,115     55,768 34,572
Net loss (95,665) $ (111,307) $ (78,865) (39,623) $ (28,947) $ (17,983) (285,837) (86,553)
Segments                
Segment Reporting [Line Items]                
Unallocated research and development and other [1] 4,470     2,450     12,789 5,200
General and administrative [2] 7,060     3,461     19,213 10,537
Personnel related (including stock-based compensation) [3] 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
Segments | Ribupatide injection                
Segment Reporting [Line Items]                
Research and development [4] 53,966     12,830     175,106 27,506
Segments | Ribupatide oral                
Segment Reporting [Line Items]                
Research and development [4] 1,582     0     3,272 0
Segments | Safiglipron                
Segment Reporting [Line Items]                
Research and development [4] 8,606     3,551     22,471 4,507
Segments | KAI-4729                
Segment Reporting [Line Items]                
Research and development [4] $ 850     $ 74     $ 1,638 $ 412
[1] 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.
[2] 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.
[3] Internal costs includes salaries and related costs, including stock-based compensation, for employees.
[4] 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.