Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Summary of Significant Segment Expenses

The following table sets forth the significant expenses provided to the CODM on a regular basis (in thousands):

	Three Months Ended March 31,
	2025		2024
Compensation	$	6,991	$	4,174
Stock-based compensation (1)	8,859		13,835
Research and development, excluding compensation and stock-based compensation (2) (3)	33,551		26,103
Other segment items (4)	(4,628)		(255)
Segment net loss	$	44,773	$	43,857
Reconciliation of net loss
Adjustments and reconciling items	—		—
Consolidated net loss	$	44,773	$	43,857

(1) Includes $0.3 million and $5.7 million in related party expenses for the three months ended March 31, 2025 and 2024, respectively.

(2) Includes non-clinical study, clinical trial, and manufacturing expenses.

(3) Includes $2.5 million and $11.7 million in related party expenses for the three months ended March 31, 2025 and 2024, respectively.

(4) Includes general and administrative expenses such as audit, legal, and other professional fees, interest income, and other expense, net.