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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company operates as one operating segment. The Company's chief operating decision maker, or CODM, is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM manages and allocates resources to the operations of our company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with our long-term company-wide strategic goals. Consistent with this decision-making process, the CODM uses operating expenses to monitor budget versus actual results for purposes of evaluating performance and to make decisions about the allocation of resources. The CODM does not utilize revenue in their decision-making process as a significant amount of the revenues recognized by the Company are derived from the upfront payments received from our collaboration partners (see Footnote 8 for further details).
These financial metrics used by the CODM to make key operating decisions, consists of development, research, and general and administrative expenses.
The following tables presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024 and 2023.
(in thousands)Year Ended December 31,
20242023
Operating expenses:
Development expenses59,003 59,297 
Research expenses30,815 38,015 
General and administrative33,281 35,240 
Segment operating expenses123,099 132,552 
Reconciliation of profit or loss
Non-operating income(14,298)(6,538)
Adjustments or reconciling items(1)
(3,485)6,479 
Consolidated net loss$(105,316)$(132,493)
(1) The reconciling items include revenue, stock-based compensation expense, and restructuring expense for the year ended December 31, 2024. The reconciling items include revenue and stock-based compensation expense for the year ended December 31, 2023.