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Segment Disclosures
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Disclosures Segment disclosures
Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision making group, in deciding how to allocate resources in assessing performance. The Company has one reportable segment: life science. The life science segment consists of the development of clinical and preclinical product candidates for the development of the Company’s proprietary new therapies. The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

The accounting policies of the life science segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the life science segment based on net loss. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM allocates resources and assesses performance on a consolidated basis, focused on the Company’s cash resources and an assessment of the probability of success of its ongoing research and development activities. Resource allocation decisions are informed by forecasted cash expenditures and actual expenses incurred to date.

To date, the Company has not generated any product revenue. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as it advances product candidates through all stages of development and clinical trials and, ultimately, seek regulatory approval.

The table below summarizes the significant expense categories regularly reviewed by the CODM for the years ended December 31:


Years ended December 31
20242023
Operating expenses:
     Clinical product candidates$65,285 $68,999 
     Pre-clinical product candidates979 1,995 
     Employee costs- research and development7,854 6,917 
     Employee costs-general and administrative5,315 4,478 
     Non-cash stock compensation8,527 7,102 
     Depreciation expense 134 111 
     Professional fees and other segment expenses9,958 9,621 
Total operating expenses98,052 99,223 
Loss from operations(98,052)(99,223)
     Interest Income3,390 3,075 
     Change in fair value of the tranche rights(4,796)— 
     Other income (expense)(1,049)2,536 
Net loss$(100,507)$(93,612)