Segment Reporting

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company manages its business activities on a consolidated basis and operates as a single operating segment: R&D, which engages in the business of developing a new class of RNA-based therapeutics to treat a broad range of genetic diseases. The Company's operations are primarily in the United States.

The Company’s CODM is its Chief Executive Officer. The CODM uses net loss, as reported on the Company’s condensed consolidated statement of operations and comprehensive loss, in evaluating performance and determining how to allocate resources. The CODM does not review assets in evaluating the results and therefore, such information is not presented.

The operating financial results of the Company’s R&D segment for the three months ended March 31, 2026 and 2025 are as follows (in thousands):

	Three Months Ended March 31,
	2026		2025
Revenue	$	1,294	$	858
Less: Significant segment expenses
Personnel-related expenses	5,875		5,187
Clinical and preclinical expenses	4,631		4,479
Facilities-related and overhead	1,793		1,976
Professional and consulting fees	1,471		1,601
Corporate expenses	340		581
Travel and entertainment	255		134
Plus: Other segment (loss) income	(5,260)		667
Segment net loss	$	(18,331)	$	(12,433)

Other segment income includes total other income, net on the condensed consolidated statements of operations.