SEGMENT REPORTING

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Reporting

12.SEGMENT REPORTING

The Company has one reportable segment related to the research and development of the Company’s product candidates.

The Company’s Chief Operating Decision Maker (the “CODM”), its Chief Executive Officer, reviews the Company’s operations, including reviewing budgets and trial-related data, and decides how to allocate resources and assess performance. When evaluating the Company’s financial performance, the CODM regularly reviews total expenses and total assets and the CODM makes decisions using this information on a consolidated basis. The CODM uses consolidated net income or loss as a measure of profit or loss in allocating resources and assessing segment performance. In addition to the expense categories included within net income presented on the Company's Consolidated Statements of Operations and Comprehensive Loss, see below for additional expense details that are routinely reviewed by the CODM:

	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Research and development:
Internal expenses	$	7,751		$	6,295		$	15,597		$	11,747
External expenses		22,058			8,350			37,569			14,603
Total		29,809			14,645			53,166			26,350
General and administrative:
Internal expenses		5,514			5,467			9,336			10,630
External expenses		5,580			4,346			10,560			9,682
Total		11,094			9,813			19,896			20,312
Loss from operations		(40,903	)		(24,458	)		(73,062	)		(46,662	)
Total other income/(expense), net		(1,841	)		18,604			6,970			(13,592	)
Net loss	$	(42,744	)	$	(5,854	)	$	(66,092	)	$	(60,254	)