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Segment Reporting | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company has one reportable segment relating to research and development of its product. The segment does not currently generate revenues as it is currently conducting clinical trials and has not commercialized. The Company’s Chief Operating Decision Maker (the “CODM”), its Chief Executive Officer, manages the Company’s operations on an integrated basis for the purposes of allocating resources. When evaluating the Company’s financial performance, the CODM regularly reviews total expenses and expenses by function and the CODM makes decisions using this information on a global basis. The CODM monitors performance at the consolidated level such that the measure of segment loss is consolidated net loss and the measure of reportable segment assets is reported on the balance sheet as total assets. The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2026 |  | 2025 |  |  |  |
Expenses |  |  |  |  |  |  |  |
Manufacturing and process development |  | $ | 23,208 |  |  | $ | 18,655 |  |  |  |  |
Clinical operations and development |  | 14,570 |  |  | 10,026 |  |  |  |  |
Research and development personnel cost and other (including stock-based compensation) |  | 9,121 |  |  | 5,096 |  |  |  |  |
Research |  | 601 |  |  | 556 |  |  |  |  |
Total research and development |  | 47,500 |  |  | 34,333 |  |  |  |  |
General and administrative personnel costs (including stock-based compensation) |  | 7,963 |  |  | 4,832 |  |  |  |  |
Professional fees |  | 3,560 |  |  | 1,504 |  |  |  |  |
Facility costs, IT, office expense and other |  | 1,219 |  |  | 1,119 |  |  |  |  |
Total general and administrative expenses |  | 12,742 |  |  | 7,455 |  |  |  |  |
Total operating expenses |  | 60,242 |  |  | 41,788 |  |  |  |  |
Operating loss |  | (60,242) |  |  | (41,788) |  |  |  |  |
Interest income |  | 4,083 |  |  | 5,014 |  |  |  |  |
Total other income |  | 4,083 |  |  | 5,014 |  |  |  |  |
Net income before losses |  | (56,159) |  |  | (36,774) |  |  |  |  |
Income tax expense |  | (52) |  |  | (72) |  |  |  |  |
Segment and consolidated net loss |  | $ | (56,211) |  |  | $ | (36,846) |  |  |  |  |
Included within facility costs, IT, office expense and other are depreciation expense, which is disclosed on the Statement of Cash Flows

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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