SEGMENT REPORTING

3 Months Ended

Mar. 31, 2026

SEGMENT REPORTING

SEGMENT REPORTING

NOTE 9 SEGMENT REPORTING

There have been no changes in the Company’s assessment of the basis of segmentation or in the basis of measurement of segment profit or loss since the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2026.

	Three Months Ended March 31,
	2026		2025
Operating expenses:
Contracted research expense	$	23,942	$	21,298
Personnel expense		14,725		10,624
Stock-based compensation expense		8,715		9,059
Other segment expense(a)		6,196		4,464
Depreciation		537		514
Segment net loss		(54,115)		(45,959)
Reconciliation of net loss
Interest income		5,102		5,161
Net Loss	$	(49,013)	$	(40,798)

^a Other segment expense included in Segment net loss includes contracted administrative expenses, intellectual property fees, software costs, occupancy & equipment costs, and other overhead expenses.