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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Summary of Reconciliation to Net Loss

A reconciliation to the net loss for the three and nine months ended September 30, 2026 and 2025 is included at the bottom of the table below.

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

8,329

 

 

 

8,125

 

 

$

25,724

 

 

$

31,739

 

Facilities expenses

 

 

4,826

 

 

 

5,241

 

 

 

13,696

 

 

 

14,577

 

Direct external development program expenses

 

 

11,474

 

 

 

4,644

 

 

 

29,950

 

 

 

14,913

 

Other segment expenses(2)

 

 

7,327

 

 

 

4,406

 

 

 

19,707

 

 

 

15,420

 

Total segment expenses:

 

 

31,956

 

 

 

22,416

 

 

 

89,077

 

 

 

76,649

 

Segment loss

 

 

(31,956

)

 

 

(22,416

)

 

 

(89,077

)

 

 

(76,649

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciling items:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(2,056

)

 

 

(2,306

)

 

 

(7,128

)

 

 

(6,936

)

Share-based compensation

 

 

(1,765

)

 

 

(1,773

)

 

 

(5,528

)

 

 

(6,660

)

Impairment of property and equipment

 

 

—

 

 

 

—

 

 

 

(5,670

)

 

 

—

 

Impairment of right-of-use asset

 

 

—

 

 

 

(791

)

 

 

(2,378

)

 

 

(791

)

Interest income

 

 

2,245

 

 

 

3,852

 

 

 

7,621

 

 

 

12,198

 

Other income, net

 

 

206

 

 

 

1,719

 

 

 

634

 

 

 

2,163

 

Net loss

 

$

(33,326

)

 

$

(21,715

)

 

$

(101,526

)

 

$

(76,675

)

 

(1) Personnel related expenses include ($0.1) million and $5.0 million of severance and other benefits expense for the three and nine months ended September 30, 2025, respectively.

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