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Segments | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segments | Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the Chief Operating Decision Maker (“CODM”) or decision-making group in making decisions on how to allocate resources and assess performance. The Company’s CODM is its CEO. The CEO views the Company’s operations and manages the Company’s business as one operating segment, which is the business of developing and commercializing genome editing technology. The Company’s CEO manages and allocates resources to the operations of the Company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with our long-term company-wide strategic goals. In making these decisions, the Company’s CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company’s consolidated net loss. Through this analysis, the CODM assesses performance by comparing actual consolidated net loss versus the budget, and then decides how to allocate resources to invest in the Company’s research and development programs. The measure of segment assets is reported on the consolidated balance sheet as total assets. The following table contains additional information on our consolidated revenue and net loss, including significant segment expenses (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  |  | 2024 |  | 2025 |  |  | 2024
Collaboration and other research and development revenues | $ | 3,578 |  |  |  | $ | 513 |  |  | $ | 8,236 |  |  |  | $ | 1,649 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development 1 |  |  |  |  |  |  |  |  |
Employee related expenses | 8,575 |  |  |  | 13,661 |  |  | 22,742 |  |  |  | 27,344 |
External research and development expenses | 25,111 |  |  |  | 27,025 |  |  | 60,466 |  |  |  | 44,613 |
Facility expenses | 4,581 |  |  |  | 7,370 |  |  | 13,974 |  |  |  | 12,589 |
Stock-based compensation expenses | 863 |  |  |  | 2,125 |  |  | 1,770 |  |  |  | 5,033 |
Sublicense and license fees | 95 |  |  |  | 857 |  |  | 112 |  |  |  | 6,753 |
Other expenses 3 | 1,787 |  |  |  | 3,172 |  |  | 7,785 |  |  |  | 6,665 |
General and administrative 2 |  |  |  |  |  |  |  |  |
Employee related expenses | 3,436 |  |  |  | 4,800 |  |  | 8,541 |  |  |  | 9,690 |
Professional service expenses | 3,711 |  |  |  | 3,893 |  |  | 6,151 |  |  |  | 6,808 |
Intellectual property and patent related fees | 3,221 |  |  |  | 3,845 |  |  | 5,767 |  |  |  | 7,790 |
Stock-based compensation expenses | 1,801 |  |  |  | 2,885 |  |  | 3,873 |  |  |  | 7,562 |
Facility and other expenses 4 | 1,941 |  |  |  | 2,783 |  |  | 4,762 |  |  |  | 5,695 |
Total operating expenses | 55,122 |  |  |  | 72,416 |  |  | 135,943 |  |  |  | 140,542 |
Operating loss | (51,544) |  |  |  | (71,903) |  |  | (127,707) |  |  |  | (138,893) |
Other (expense) income, net: |  |  |  |  |  |  |  |  |
Other (expense) income, net | (1,758) |  |  |  | (1) |  |  | (2,183) |  |  |  | 5 |
Interest related to sale of future revenues | (2,020) |  |  |  | — |  |  | (4,236) |  |  |  | — |
Interest income, net | 2,087 |  |  |  | 4,297 |  |  | 4,803 |  |  |  | 9,331 |
Total other (expense) income, net | (1,691) |  |  |  | 4,296 |  |  | (1,616) |  |  |  | 9,336 |
Net loss | $ | (53,235) |  |  |  | $ | (67,607) |  |  | $ | (129,323) |  |  |  | $ | (129,557) |
1 The three and six months ended June 30, 2025 and 2024 include $24,830 and $64,075 and $- and $- of restructuring and impairment charges, respectively.
2 The three and six months ended June 30, 2025 and 2024 include $1,251 and $2,860 and $- and $- of restructuring and impairment charges, respectively.
3 Other expenses primarily consists of impairment charges, consultant fees and office expenses
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses and office expenses

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- Definition The entire disclosure for reporting segments including data and tables. 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