v3.26.3
Segment Reporting
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The following table presents selected financial information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2026 and 2025 (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenue:
Collaboration and license revenue$— $— $— $400 
Grant revenue— 452 781,450 
Total revenue— 452 781,850 
Less:
Operating expenses:
Descartes-08 for MG6,515 5,431 31,11517,502 
Descartes-08 for dermatomyositis
624 — 1,087— 
Early stage programs1,245 1,523 2,5714,228 
Research and development employee expenses4,064 3,971 11,91911,927 
Research and development stock-based compensation expense916 1,005 2,4794,090 
Research and development facilities and other expenses2,259 1,872 6,3465,598 
General and administrative9,378 7,716 25,21623,271 
Other (income) expense, net (1)
(13,529)14,836 (45,770)(27,040)
Net loss$(11,472)$(35,902)$(34,885)$(37,726)
(1) Includes interest income; interest expense; gain on change in fair value of warrant liability; gain (loss) on change in fair value of derivative liability; gain (loss) on change in fair value of contingent value rights liability; and other income (expense), net.