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Segment Reporting
 12 Months Ended
Dec. 31, 2025
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 the 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).
The financial metrics used by the CODM to make key operating decisions consist of development, research, and general and administrative expenses.
The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2025 and 2024.
(in thousands)Year Ended December 31,
20252024
Operating expenses:
Development expenses52,099 59,003 
Research expenses33,495 30,815 
General and administrative35,743 33,281 
Segment operating expenses121,337 123,099 
Reconciliation of profit or loss
Non-operating income(10,228)(14,298)
Adjustments or reconciling items(1)
(6,115)(3,485)
Consolidated net loss$(104,994)$(105,316)
(1) The reconciling items include revenue, stock-based compensation expense, and impairment of long-lived assets expense for the year ended December 31, 2025. The reconciling items include revenue, stock-based compensation expense, and restructuring expense for the year ended December 31, 2024.