Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Presents Reportable Segment Profit and Loss

The following table presents reportable segment profit and loss, including significant expense categories, attributable to the Company’s reportable segment for the periods presented:

	Year ended December 31,
	2025			2024			2023
Revenue	$	39,211		$	47,072		$	78,592
Less:
Research and development expenses
External research and development:
STAT6		86,615			39,805			—
Other external research and development expense (1)		92,165			84,981			94,700
Research and development compensation and related personnel expense (2)		90,346			75,975			65,039
Research and development overhead and administrative costs		47,442			39,487			29,342
General & administrative (3)		68,187			63,534			55,041
Interest and other expense (4)		4,225			5,174			196
Plus:
Interest income		38,418			38,026			18,764
Segment net loss	$	(311,351	)	$	(223,858	)	$	(146,962	)

(1) Certain prior period amounts have been recast to conform with current period presentation.

(2) Research and development compensation and related personnel expense for the years ended December 31, 2025, 2024 and 2023 is inclusive of $31.5 million, $27.8 million, and $21.6 million of stock-based compensation expense, respectively.

(3) General and administrative expense for the years ended December 31, 2025, 2024 and 2023 is inclusive of $28.4 million, $27.2 million, and $21.6 million of stock-based compensation expense, respectively.

(4) Other expense for the years ended December 31, 2025 and 2024 is inclusive of a $3.9 million and $4.9 million impairment of long-lived assets, respectively.