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Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Significant Segment Expenses Significant segment expenses are presented below.

 

 

Year Ended
December 31,

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Clinical, Preclinical, and R&D Operations (1)

 

$

(63,154

)

 

$

(49,550

)

Chemistry, Manufacturing, and Controls (1)

 

 

(27,145

)

 

 

(23,752

)

General and Administrative (1)

 

 

(22,491

)

 

 

(22,814

)

Other Segment Items (2)

 

 

6,599

 

 

 

9,197

 

Net loss

 

$

(106,191

)

 

$

(86,919

)

 

(1) Includes depreciation expense directly allocated to respective activities.

(2) Other segment items primarily include interest and accretion income, realized gains and losses, and income taxes.