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Segment (Tables)
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Summary of Reconciles Reported Revenues to Net (Loss) Income under Significant Expense Principle The following table reconciles reported revenues to net (loss) income under the significant expense principle for the three months ended March 31, 2025 and 2024 (in thousands):

 

 

For the three months ended
March 31,

 

 

2025

 

 

2024

 

 

 

 

Research and Development Expenses:

 

 

 

 

 

 

RAP-219 program external expenses

 

$

7,963

 

 

$

3,901

 

Preclinical programs external expenses

 

 

3,246

 

 

 

3,934

 

R&D personnel-related costs (including stock-based
   compensation)

 

 

6,786

 

 

 

4,017

 

 Other costs

 

 

1,577

 

 

 

652

 

General and Administrative Expenses:

 

 

 

 

 

 

G&A personnel-related costs (including stock-based
   compensation)

 

 

4,959

 

 

 

2,397

 

Professional and consulting costs

 

 

1,664

 

 

 

1,865

 

Facility related and other

 

 

913

 

 

 

328

 

Loss from operations

 

$

(27,108

)

 

$

(17,094

)

Interest income

 

 

3,045

 

 

 

1,815

 

Change in fair value of preferred stock tranche right liability

 

 

 

 

 

(7,390

)

Net loss

 

 

(24,063

)

 

$

(22,669

)