Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

10. Segment Information

We operate and manage our business as a single reportable segment focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases. Our CEO, as the CODM, uses consolidated net loss to evaluate our expenditures and monitor budget versus actual results. The monitoring of budgeted versus actual results and cash on hand are used in assessing performance of the segment and in establishing resource allocation across the organization.

Factors considered in determining our single reportable segment include the nature of our operating activities, our organizational and reporting structure, and the type of information reviewed by the CODM to allocate resources and evaluate financial performance.

The CODM regularly reviews significant expense categories included within our consolidated net loss to manage our operations. These significant expense categories include research and development, general and administrative, interest expense, interest income and other, net and income tax expense, which are each separately presented on our condensed consolidated statements of operations and comprehensive loss.

Substantially all of our long-lived assets, which primarily consist of right-of-use assets related to operating leases, were located in the United States as of March 31, 2025 and December 31, 2024.