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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information

16. SEGMENT INFORMATION

The Company operates as a single reportable segment engaged in the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. The Company's determination that it operates as a single segment is consistent with the nature of its operations and the financial information regularly reviewed by the chief executive officer, in his capacity as the chief operating decision maker (CODM), for the purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting for future periods. The Company's purpose is to help people with endocrine and metabolic disorders live fuller and healthier lives. The Company's long-term success is significantly dependent on its ability to research and develop innovative medicines. The CODM uses net loss to assess performance of the Company, ensuring that it is investing in the research and development of product candidates. The CODM allocates research and development resources based

upon several factors, including the likelihood of technical success, unmet medical needs, and the viability of commercial success. A significant component of the CODM’s decision-making process is to ensure a balanced investment in the research and development portfolio to drive near-term success and long-term sustainability.

The following table summarizes our significant segment expenses and segment net loss for the three months ended March 31, 2025 and 2024 (in thousands):

 

For the three months ended March 31,

 

 

2025

 

 

2024

 

Expenses:

 

 

 

 

 

 

Canvuparatide direct program expense

 

$

8,337

 

 

$

3,982

 

MBX 1416 direct program expense

 

 

1,806

 

 

 

2,636

 

Preclinical and other research and development direct expense

 

 

6,985

 

 

 

842

 

Research and development overhead expense

 

 

5,277

 

 

 

3,589

 

Other segment items (1)

 

 

1,475

 

 

 

1,288

 

Net loss

 

$

23,880

 

 

$

12,337

 

 

 

 

 

 

 

 

 

(1) Other segment items are primarily comprised of general and administrative expenses and interest and other income.