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Segment Information | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Information | Note 10. Segment Information The Company operates in one segment, which is GPCR oral small molecule drug discovery. The Company’s Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. The measure of segment profit or loss is net loss, which is also reported on the condensed statements of operations and comprehensive loss as net loss. The measure of segment assets is reported on the condensed balance sheet as total assets. The CODM uses segment net loss to monitor spending, assess performance for the Company and management, evaluate the progress of completing corporate goals, decide how to allocate resources among the Company’s clinical and pre-clinical portfolios, and make strategic decisions about business development opportunities. The CODM is regularly provided with the following significant segment expenses:
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Revenue |  | $ | 26,523 |  |  | $ | 219 |
Employee-related expenses, excluding stock-based compensation |  |  | 10,589 |  |  |  | 6,845 |
Stock-based compensation |  |  | 6,015 |  |  |  | 1,482 |
External research and development expenses |  |  | 14,557 |  |  |  | 10,239 |
External general and administrative expenses |  |  | 2,506 |  |  |  | 2,652 |
Other segment expenses* |  |  | 6,156 |  |  |  | 4,911 |
Total operating expenses |  |  | 39,823 |  |  |  | 26,129 |
Loss from operations |  |  | (13,300 | ) |  |  | (25,910 | )
Other income, net |  |  | 5,000 |  |  |  | 4,434 |
Loss before provision for income taxes |  |  | (8,300 | ) |  |  | (21,476 | )
Provision for income taxes |  |  | (337 | ) |  |  | — |
Net loss |  | $ | (8,637 | ) |  | $ | (21,476 | )
(*) Other segment expenses include facility related and office costs, information technology costs, general laboratory costs, depreciation and amortization of property and equipment, net, and other operating expenses. As of March 31, 2026 and December 31, 2025, all of the Company’s property and equipment was maintained in the U.S. For the three months ended March 31, 2026 and 2025, the Company’s revenue was generated from providing research services and was earned in the U.S.

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- Definition The entire disclosure for reporting segments including data and tables. 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