| Summary of Segment Loss Including Significant Segment Expenses |
The table below is a summary of the segment 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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Program expenses: |
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Danicamtiv |
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$ |
11,739 |
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$ |
7,532 |
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$ |
35,294 |
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$ |
8,416 |
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Ataciguat |
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10,898 |
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7,453 |
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27,515 |
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17,287 |
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Tonlamarsen |
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4,407 |
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8,912 |
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12,277 |
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17,320 |
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Research and development - compensation and
benefits * |
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23,816 |
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13,293 |
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56,109 |
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35,743 |
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Research and development - other |
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13,499 |
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11,949 |
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34,596 |
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24,986 |
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Total Research and development expense |
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64,359 |
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49,139 |
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165,791 |
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103,752 |
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General and administrative expense - compensation and benefits * |
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17,019 |
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5,346 |
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38,439 |
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26,295 |
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General and administrative expense - other |
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5,226 |
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4,589 |
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16,316 |
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12,230 |
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Total general and administrative expense |
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22,245 |
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9,935 |
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54,755 |
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38,525 |
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Change in fair value of contingent milestone liabilities |
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(21,789 |
) |
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— |
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21,740 |
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— |
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Total operating expense |
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64,815 |
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59,074 |
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242,286 |
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142,277 |
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Other income/expense ** |
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(6,247 |
) |
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1,082 |
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(11,411 |
) |
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(2,490 |
) |
Loss before income taxes |
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$ |
58,568 |
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$ |
60,156 |
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$ |
230,875 |
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$ |
139,787 |
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* Includes stock-based compensation expense ** Other income (expense) for the three and nine months ended September 30, 2026 primarily includes interest income. Other income (expense) for the three and nine months ended September 30, 2025 primarily includes bargain purchase gain, warrant issuance expense, change in fair value of Series A Preferred Stock tranche obligations and interest income.
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