| Schedule of Segment Profit or Loss, Including Segment Expenses |
The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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|
2025 |
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Collaboration revenue |
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$ |
— |
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|
$ |
1,741 |
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|
$ |
3,381 |
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$ |
5,277 |
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Less: |
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|
|
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Personnel costs |
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|
9,652 |
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|
10,997 |
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|
31,497 |
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|
|
33,383 |
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Clinical programs |
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|
7,504 |
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|
6,065 |
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21,102 |
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|
18,126 |
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Research activities |
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|
992 |
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1,100 |
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|
3,784 |
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|
5,406 |
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Facilities costs |
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|
4,580 |
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|
6,113 |
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|
|
13,222 |
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|
18,078 |
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Other segment expenses (1) |
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|
9,519 |
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|
12,201 |
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|
30,157 |
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|
43,267 |
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Total operating expenses |
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32,247 |
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36,476 |
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|
|
99,762 |
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|
118,260 |
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Loss from operations |
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|
(32,247 |
) |
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|
(34,735 |
) |
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(96,381 |
) |
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(112,983 |
) |
Other income (expense): |
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Interest income |
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|
1,409 |
|
|
|
2,575 |
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|
|
4,831 |
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|
|
8,832 |
|
Change in fair value of stock price appreciation milestones |
|
|
151 |
|
|
|
(90 |
) |
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|
(509 |
) |
|
|
117 |
|
Other income |
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|
— |
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|
|
— |
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— |
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|
|
93 |
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Total other income |
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1,560 |
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|
2,485 |
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|
4,322 |
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|
|
9,042 |
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Net loss |
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$ |
(30,687 |
) |
|
$ |
(32,250 |
) |
|
$ |
(92,059 |
) |
|
$ |
(103,941 |
) |
(1) Other segment expenses include stock compensation expense, depreciation, legal fees, general and administrative expenses, and corporate expenses.
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