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Segment Reporting | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Segment Reporting | 14. Segment Reporting 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 regarding resource allocation and assessing performance. The Company’s CODM is its Chief Executive Officer. No product revenue has been generated since inception and all assets are held in the United States. The Company views its operations and manages its business as one operating segment, focused on the discovery and development of novel therapies for the treatment of metabolic diseases. Segment profit or loss is measured as the Company’s net loss as reported on the Company’s consolidated statements of operations and comprehensive loss. The Company monitors its cash and cash equivalents and short-term investments as reported on the Company’s consolidated balance sheets to determine funding for its research and development. As the Company does not currently generate revenue, the CODM assesses Company performance through the achievement of pre-clinical and clinical research goals. In addition to the Company’s consolidated statements of operations and comprehensive loss, the CODM is regularly provided with budgeted and forecasted expense information which is used to determine the Company’s liquidity needs and cash allocation. The measure of segment assets is reported on the consolidated balance sheets as total assets. Segment net loss, including significant segment expenses regularly provided to the CODM, are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2025 |  |  | 2024 |
Research and development expenses: |  |  |  |  |  |
Research expenses |  | $ | 36,014 |  |  | $ | 12,659 |
Personnel-related (including stock-based compensation expense) |  |  | 11,965 |  |  |  | 4,272 |
Facilities-related and other allocated costs |  |  | 957 |  |  |  | 432 |
Total Research and development expenses |  |  | 48,936 |  |  |  | 17,363 |
General and administrative expenses |  |  | 13,789 |  |  |  | 5,305 |
Credit loss – related party accounts receivable |  |  | - |  |  |  | 117 |
Interest and dividend income |  |  | (5,139 | ) |  |  | (2,414 | )
Unrealized losses on short-term investments |  |  | 5 |  |  |  | 217 |
Net Loss |  | $ | (57,591 | ) |  | $ | (20,588 | )

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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