SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents selected financial information about the Company’s single operating segment for the three months ended March 31, 2026 and 2025 (in thousands):

	Three Months Ended March 31,
	2026		2025
Operating expenses
Research and development
External costs	$	10,759	$	19,427
Internally managed costs (1)	4,695		4,853
General and administrative (2)	3,287		3,601
Other segment expenses (3)	2,408		2,489
Other income, net	(412)		(1,574)
Segment net loss	$	20,737	$	28,796

(1) Includes Company-managed research, consultants and contractors, as well as internal personnel and operating expenses, and excludes stock-based compensation expense and depreciation.

(2) Excludes stock-based compensation expense and depreciation.

(3) Other segment expenses include stock-based compensation expense and depreciation.