Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of reportable segment profit and loss including significant expense categories


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Expenses⁽¹⁾:
Research and development:
Navenibart	$	11,082	$	7,935	$	22,911	$	15,071
STAR-0310		5,738		5,710		13,174		8,685
Employee expenses		4,647		3,195		9,297		6,632
General and administrative:
Program support⁽²⁾		373		9		344		206
Employee expenses		3,330		2,736		6,854		5,598
Stock-based compensation expense		4,351		3,451		8,190		6,205
Consulting and professional services expenses		4,274		4,459		8,278		7,828
Other segment expenses⁽³⁾		2,025		1,308		3,767		2,728
Other income, net⁽⁴⁾		(2,768)		(4,631)		(6,054)		(8,853)
Segment net loss	$	33,052	$	24,172	$	66,761	$	44,100

(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 expenses include: 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 and six months ended June 30, 2025, the Company recognized interest income of $2.9 million and $6.2 million, respectively. For the three and six months ended June 30, 2024, the Company recognized interest income of $4.6 million and $8.9 million, respectively.