XML 29 R19.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
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 immunologic 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:

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31,

​

    

2025

    

2024

Expenses(1):

​

​

​

​

​

​

Research and development:

​

​

​

​

​

​

Navenibart

​

$

11,829

​

$

7,136

STAR-0310

​

 

7,436

​

 

2,975

Employee expenses

​

 

4,650

​

 

3,437

General and administrative:

​

 

​

​

 

​

Program support(2)

​

 

—

​

 

75

Employee expenses

​

 

3,524

​

 

2,862

Stock-based compensation expense

​

 

3,839

​

 

2,754

Consulting and professional services expenses

​

 

3,975

​

 

3,490

Other segment expenses(3)

​

 

1,742

​

 

1,421

Other income, net(4)

​

 

(3,286)

​

 

(4,222)

Segment net loss

​

$

33,709

​

$

19,928

(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 pre-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)Other income, net, consists primarily of interest income on investments, as further described in Note 4, “Short-Term Investments”. For the three months ended March 31, 2025 and 2024, the Company recognized interest income of $3.3 million and $4.2 million, respectively.