Segment Information

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Information

11. Segment Information

We have one reportable segment which focuses on the discovery and development of cancer therapeutics. The segment derives its revenues from the Collaboration Agreement with Jazz (see Note 3, Collaboration and License Agreement).

Our chief operating decision maker (“CODM”) manages our operations on an integrated basis for the purpose of allocating resources. When evaluating our financial performance, our CODM regularly reviews total expenses and expenses by function and makes decisions using this information based on the performance of the enterprise as a whole. Our CODM primarily evaluates the performance of the enterprise based on results that have a direct impact on our available cash and cash equivalents

and accordingly places less significance on non-cash expenses such as stock-based compensation and depreciation expenses in determining how to allocate resources.

Segment assets regularly reviewed by our CODM include measures of liquidity, primarily available cash and cash equivalents, and are consistent with the presentation of cash and cash equivalents reported in our condensed consolidated balance sheets.

The following is a summary of our segment and consolidated net loss, including significant segment expenses:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in thousands)
Collaboration revenue	$	—	$	1,143	$	—	$	1,885
Less:
Clinical development	5,710		5,684		10,039		8,412
General and administrative support	3,486		3,621		7,309		7,360
Research and discovery	3,537		3,270		6,856		7,545
Manufacturing	2,610		4,472		6,698		8,865
Other segment expenses(a)	2,199		3,056		4,631		5,825
Interest income	850		1,793		1,847		3,766
Interest expense	(1,301)		(1,142)		(2,564)		(2,145)
Loss on extinguishment of debt	—		(553)		—		(553)
Other income, net	11		1,613		179		1,612
Segment and consolidated net loss	$	(17,982)	$	(17,249)	$	(36,071)	$	(33,442)

(a) Other segment expenses includes non-cash expenses for stock-based compensation and depreciation expenses.