Segment reporting

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment reporting

3. Segment reporting

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (CODM), the Company's Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. When evaluating the Company's financial performance, the CODM reviews total expenses and expenses by function. Further, the CODM reviews the segment's assets based on total assets reported on the consolidated balance sheet.

The table below is a summary of the segment loss, including significant segment expenses (in thousands):

	Three months ended March 31,
	2025			2024
	(in thousands)
Operating expenses:
Facility costs	$	11,232		$	12,105
Research and laboratory		8,846			15,927
Support functions		8,654			13,645
Technical operations and manufacturing		7,436			10,023
Stock-based compensation		7,022			9,093
Clinical development		3,246			7,865
Other(1)		2,237			4,059
Research and development related success payments and contingent consideration		1,957			38,007
Total operating expenses		50,630			110,724
Loss from operations		(50,630	)		(110,724	)
Interest income, net		992			3,034
Other income, net		249			215
Net loss	$	(49,389	)	$	(107,475	)

(1) Other includes licensing costs, consulting fees, insurance and business taxes for the three months ended March 31, 2025 and 2024.