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SEGMENT INFORMATION
9 Months Ended
Sep. 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
September 30,
Nine Months Ended
September 30,
2025202420252024
Revenues$581 $49,412 $25,324 $50,249 
Less:
Research and development14,020 19,316 43,774 55,398 
General and administrative6,716 11,199 23,498 29,559 
Clinical manufacturing operations13,175 7,075 34,251 27,931 
Impairment of long-lived assets— — — 5,521 
Stock-based compensation2,127 3,315 6,949 9,099 
Other segment items (*)
(527)(2,165)2,365 (2,714)
Net loss$(34,930)$10,672 $(85,513)$(74,545)
(*) Other segment items include restructuring charges, interest income, other income (expense), net, and income tax (benefit) expense.