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

14. Segment Reporting

The Company has one reportable segment relating to the research and development of its research programs. The Company’s chief operating decision maker ("CODM"), its Chief Executive Officer, manages the Company’s operations on a company-wide basis for the allocation of resources and the assessment of performance. The Company’s measure of segment profit or loss used to assess performance and allocate resources is net loss. The CODM uses net loss to evaluate loss generated from the Company’s business activities in deciding how to allocate company resources and in monitoring budget versus actual results. Assets are also managed on a company-wide basis.

The table below is a summary of the segment loss, including significant segment expenses that are reviewed by the CODM (in thousands):

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Aβ program research and development costs (1)

 

$

16,311

 

 

$

20,014

 

 

$

32,643

 

 

$

20,202

 

Undisclosed programs research and development costs (2)

 

 

9,142

 

 

 

—

 

 

 

15,038

 

 

 

—

 

General and administrative personnel costs (including stock-based compensation)

 

 

3,732

 

 

117

 

 

 

7,279

 

 

117

 

Research and development personnel costs (including stock-based compensation) (3)

 

 

3,241

 

 

204

 

 

 

6,401

 

 

240

 

Parasa warrant stock-based compensation (4)

 

 

12,664

 

 

199

 

 

 

13,508

 

 

199

 

Other general and administrative costs (5)

 

 

2,403

 

 

 

1,361

 

 

 

5,076

 

 

 

1,473

 

Other research and development costs (6)

 

 

781

 

 

62

 

 

 

1,540

 

 

91

 

Interest income

 

 

(1,849

)

 

 

(234

)

 

 

(4,190

)

 

 

(374

)

Net loss

 

$

46,425

 

 

$

21,723

 

 

$

77,295

 

 

$

21,948

 

 

(1)
Includes related party amounts of $1,856 and $11,282 for the three and nine months ended September 30, 2026, respectively, and $20,014 for the three and nine months ended September 30, 2025.
(2)
Includes related party amounts of $9,142 and $15,038 for the three and nine months ended September 30, 2026, respectively.
(3)
Includes related party amounts of $10 and $46 for the three and nine months ended September 30, 2025, respectively.
(4)
Includes related party amounts of $12,664 and $13,508 for the three and nine months ended September 30, 2026, respectively, and $199 for the three and nine months ended September 30, 2025.
(5)
Includes related party amounts of $721 for the three and nine months ended September 30, 2025.
(6)
Includes related party amounts of $0 and $21 for the three and nine months ended September 30, 2026, respectively, and $39 for the three and nine months ended September 30, 2025.