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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue:
Collaboration and license revenue$— $33,271 400$39,111 
Grant revenue298 174 998174 
Total revenue298 33,445 1,39839,285 
Less
Operating expenses:
Legacy Selecta programs— 3,570 —6,347 
Descartes-08 for MG5,035 2,945 12,0714,211 
Early stage programs1,715 528 2,705655 
Research and development employee expenses4,254 2,184 7,9565,425 
Research and development stock-based compensation expense1,810 776 3,0851,488 
Research and development facilities and other expenses2,055 2,658 3,7264,273 
General and administrative7,240 7,027 15,55516,477 
Other (income) expense, net (1)(37,697)(79)45,09843,397 
Net income (loss)
$15,886 $13,836 (1,824)$(42,988)
(1) Includes interest income; foreign currency transaction, net; change in fair value of warrant liabilities; change in fair value of contingent value right liability; change in fair value of forward contract liabilities; and other (expense) income, net.