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SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has identified its Chief Executive Officer as the CODM. Management uses one measure of profitability and does not segregate the Company’s business for internal reporting. Operating results and assets are reviewed by the CODM primarily at the consolidated entity level for purposes of making resource allocation decisions and for evaluating financial performance. Accordingly, the Company has a single operating and reportable segment comprising all of the Company’s operations.
The key measure of segment profit and loss that the CODM uses to allocate resources and assess performance is the Company’s net loss. The CODM uses net loss to assess the Company’s ongoing financial needs in relation to current resources in assessing performance and allocating resources.
The table below details the Company’s revenues, significant expenses, and other segment items and reconciles those amounts to the Company’s consolidated net loss as computed under U.S. GAAP in the accompanying Condensed Consolidated Statements of Operations:
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Revenues$18,306 $356 $24,743 $837 
Less:
Research and development14,643 14,916 29,754 36,082 
General and administrative7,514 8,183 16,782 18,360 
Clinical manufacturing operations11,420 8,301 21,076 20,856 
Impairment of long-lived assets— 1,172 — 5,521 
Stock-based compensation2,226 3,065 4,822 5,784 
Other segment items (*)
2,489 847 2,892 (549)
Net loss$(19,986)$(36,128)$(50,583)$(85,217)
(*) Other segment items include restructuring charges, interest income, other (expense) income, net, and income tax expense.