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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting |
Segment Reporting | 11. Segment Reporting The Company operates and manages its business as one reportable segment and one operating segment focused on the discovery, development and commercialization of novel therapeutics for allergic and immunological diseases. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. All material long-lived assets are located in the United States. Long-lived assets consist of property and equipment, net, and operating lease right-of-use assets. The CODM uses consolidated net loss to evaluate the Company’s spend and monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing performance of the segment and in establishing resource allocation across the organization. Factors used in determining the reportable segment include the nature of the Company’s operating activities, the organizational and reporting structure and the type of information reviewed by the CODM to allocate resources and evaluate financial performance. The accounting policies of the segment are the same as those described in Note 2, “Summary of Significant Accounting Policies”. ​ The following table presents reportable segment profit and loss, including significant expense categories, attributable to the Company’s reportable segment for the periods presented: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023
Expenses1: |  | ​ |  |  | ​ |
Research and development: |  | ​ |  |  | ​ |
Navenibart | ​ | $ | 32,401 | ​ | $ | 24,186
STAR-0310 | ​ |  | 15,497 | ​ |  | 677
Employee expenses | ​ |  | 14,415 | ​ |  | 9,859
General and administrative: | ​ |  |  | ​ |  |
Program support2 | ​ |  | 1,021 | ​ |  | 476
Employee expenses | ​ |  | 11,575 | ​ |  | 9,128
Stock-based compensation expense | ​ |  | 12,907 | ​ |  | 6,313
Consulting and professional services expenses | ​ |  | 17,952 | ​ |  | 9,382
Other segment expenses3 | ​ |  | 5,790 | ​ |  | 7,810
Acquired in-process research and development4 | ​ |  | — | ​ |  | 15,199
Other income, net5 | ​ |  | (17,298) | ​ |  | (10,139)
Segment net loss | ​ | $ | 94,260 | ​ | $ | 72,891
(1) The significant expense categories and amounts align with segment level information that is regularly provided to the CODM. (2) General and administrative program support expense includes commercial costs incurred in support of navenibart and STAR-0310, and patient advocacy costs incurred in support of navenibart and STAR-0310. (3) Other segment expense includes: costs incurred in support of overall research and development activities and non-specific programs, facilities expense, office expense, insurance expense and depreciation and amortization. (4) Acquired in-process research and development includes expense associated with entering into a license agreement as discussed in Note 1, “Organization and Operations”. (5) Other income, net, consists primarily of interest income on investments, as further described in Note 4, “Short-Term Investments”. For the years ended December 31, 2024 and 2023, the Company recognized interest income of $17.4 million and $10.2 million, respectively.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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