XML 42 R20.htm IDEA: XBRL DOCUMENT v3.25.2
Segments
 6 Months Ended
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,
2025202420252024
Collaboration and other research and development revenues$3,578 $513 $8,236 $1,649 
Operating expenses:
Research and development1
Employee related expenses8,575 13,661 22,742 27,344 
External research and development expenses25,111 27,025 60,466 44,613 
Facility expenses4,581 7,370 13,974 12,589 
Stock-based compensation expenses863 2,125 1,770 5,033 
Sublicense and license fees95 857 112 6,753 
Other expenses3
1,787 3,172 7,785 6,665 
General and administrative2
Employee related expenses3,436 4,800 8,541 9,690 
Professional service expenses3,711 3,893 6,151 6,808 
Intellectual property and patent related fees3,221 3,845 5,767 7,790 
Stock-based compensation expenses1,801 2,885 3,873 7,562 
Facility and other expenses4
1,941 2,783 4,762 5,695 
Total operating expenses55,122 72,416 135,943 140,542 
Operating loss(51,544)(71,903)(127,707)(138,893)
Other (expense) income, net:
Other (expense) income, net(1,758)(1)(2,183)5 
Interest related to sale of future revenues(2,020)— (4,236)— 
Interest income, net2,087 4,297 4,803 9,331 
Total other (expense) income, net(1,691)4,296 (1,616)9,336 
Net loss$(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