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Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Summary of Reconciliation to Net Loss

A reconciliation to the net loss for the three months ended March 31, 2026 and 2025 is included at the bottom of the table below.

 

 

Three Months Ended
March 31,

 

 

 

2026

 

 

2025

 

Segment expenses:

 

 

 

 

 

 

Personnel related expenses, excluding share-based compensation(1)

 

 

8,767

 

 

$

15,896

 

Facilities expenses

 

 

4,393

 

 

 

4,565

 

Direct external development program expenses

 

 

7,479

 

 

 

5,420

 

Other segment expenses(2)

 

 

5,999

 

 

 

5,550

 

Total segment expenses:

 

 

26,638

 

 

 

31,431

 

Segment loss

 

 

(26,638

)

 

 

(31,431

)

 

 

 

 

 

 

 

Reconciling items:

 

 

 

 

 

 

Depreciation and amortization

 

 

(2,340

)

 

 

(2,299

)

Share-based compensation

 

 

(1,898

)

 

 

(2,834

)

Interest income

 

 

2,838

 

 

 

4,376

 

Other income, net

 

 

206

 

 

 

205

 

Net loss

 

$

(27,832

)

 

$

(31,983

)

 

(1) Personnel related expenses include $5.1 million of severance and other benefits expense for the three months ended March 31, 2025, respectively.

(2) Other segment items include consultants and contractor, lab supplies, and general business expenses.