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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting

Schedule of reportable segment profit and loss including significant expense categories

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

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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