Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Summary of Significant Accounting Policies

Schedule of segment net loss, including significant segment expenses

The table below is a summary of the segment net loss, including significant segment expenses (in thousands):

	THREE MONTHS ENDED
	MARCH 31,
	2026		2025
Operating expenses:
Discovery research and development	$	18,517	$	21,787
Manufacturing		4,270		—
Clinical research and development		35,196		17,157
Other research and development expenses		8,524		3,923
General and administrative		22,872		13,444
Total operating expenses		89,379		56,311
Loss from operations		(89,379)		(56,311)
Interest and other income, net		13,601		9,576
Loss before provision for income taxes		(75,778)		(46,735)
Provision for income taxes		190		98
Segment net loss and net loss attributable to ordinary shareholders	$	(75,968)	$	(46,833)