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

Note 13. Segment

The Company operates as a single operating segment that is managed on an entity-wide basis. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s chief operating decision maker uses net loss to evaluate the performance of its segment, analyze financial trends, compare the budget to the actual operating results, and make resource allocation decisions. Segment net loss represents the Company’s total net loss. All corporate costs, including allocated facilities and information technology costs, and depreciation, are included within this segment.

The significant expense categories within net loss are presented on the statements of operations. The research and development expenses have been disaggregated as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and engineering expenses

 

$

29,268

 

 

$

29,271

 

 

$

88,481

 

 

$

99,535

 

Clinical expenses

 

 

42,558

 

 

 

30,042

 

 

 

123,804

 

 

 

83,054

 

In-process research and development expenses

 

 

—

 

 

 

—

 

 

 

5,048

 

 

 

2,500

 

Total research and development expenses

 

 

71,826

 

 

 

59,313

 

 

 

217,333

 

 

 

185,089

 

General and administrative expenses

 

 

18,726

 

 

 

15,438

 

 

 

53,950

 

 

 

70,688

 

Other segment items#

 

 

(4,440

)

 

 

(3,612

)

 

 

(13,804

)

 

 

(11,184

)

Net loss

 

$

86,112

 

 

$

71,139

 

 

$

257,479

 

 

$

244,593

 

 

# Other segment items consist of interest income (expense), net and other income (expense), net.

The Company’s long-lived assets as of September 30, 2026 and December 31, 2025 were located in the United States.