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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Significant Expenses Provided to the CODM on a Regular Basis | The following table sets forth the significant expenses provided to the CODM on a regular basis (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Compensation | $ | 9,397 |  |  | $ | 5,960 |  |  | $ | 24,507 |  |  | $ | 15,015 |
Stock-based compensation (1) | 9,566 |  |  | 13,100 |  |  | 27,803 |  |  | 35,617 |
Research and development, excluding compensation and stock-based compensation (2) (3) | 34,769 |  |  | 32,920 |  |  | 99,069 |  |  | 85,831 |
Other segment items (4) (5) | (42,549) |  |  | 17,048 |  |  | (58,706) |  |  | 15,259 |
Segment net loss | $ | 11,183 |  |  | $ | 69,028 |  |  | $ | 92,673 |  |  | $ | 151,722 |
Reconciliation of net loss |  |  |  |  |  |  |
Adjustments and reconciling items | — |  |  | — |  |  | — |  |  | — |
Consolidated net loss | $ | 11,183 |  |  | $ | 69,028 |  |  | $ | 92,673 |  |  | $ | 151,722 |
(1) Includes $0.3 million and $6.4 million in related party expenses for the three months ended September 30, 2025 and 2024, respectively. Includes $0.8 million and $13.8 million in related party expenses for the nine months ended September 30, 2025 and 2024, respectively. (2) Includes non-clinical study, clinical trial, and manufacturing expenses. (3) Includes $7.0 million and $1.6 million in related party expenses for the three months ended September 30, 2025 and 2024, respectively. Includes $9.6 million and $21.2 million in related party expenses for the nine months ended September 30, 2025 and 2024, respectively. (4) Includes general and administrative expenses such as audit, legal, and other professional fees, interest income, and other expense, net. Additionally, includes a $10.0 million gain recognized in connection with the sale of pegzilarginase to Immedica for the nine months ended September 30, 2025. (5) Includes $40.4 million decrease and a $18.7 million increase in fair value of CVR liability for the three months ended September 30, 2025 and 2024, respectively; and a $42.2 million decrease and a $19.6 million increase in fair value of CVR liability for the nine months ended September 30, 2025 and 2024, respectively.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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