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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Summary of Reconciliation to Net Loss

A reconciliation to the net loss for the three and nine months ended September 30, 2025 and 2024 is included at the bottom of the table below.

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Personnel related expenses, excluding share-based compensation(1)

 

 

8,125

 

 

 

10,674

 

 

$

31,739

 

 

$

31,083

 

Facilities expenses

 

 

5,241

 

 

 

4,683

 

 

 

14,577

 

 

 

14,035

 

Direct external development program expenses

 

 

4,644

 

 

 

5,807

 

 

 

14,913

 

 

 

16,876

 

Other segment expenses (2)

 

 

4,406

 

 

 

6,228

 

 

 

15,420

 

 

 

15,576

 

Total segment expenses:

 

 

22,416

 

 

 

27,392

 

 

 

76,649

 

 

 

77,570

 

Segment loss

 

 

(22,416

)

 

 

(27,392

)

 

 

(76,649

)

 

 

(77,570

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciling items:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(2,306

)

 

 

(2,347

)

 

 

(6,936

)

 

 

(6,864

)

Share-based compensation

 

 

(1,773

)

 

 

(4,055

)

 

 

(6,660

)

 

 

(12,837

)

Impairment of right-of-use asset

 

 

(791

)

 

 

 

 

 

(791

)

 

 

 

Interest income

 

 

3,852

 

 

 

5,453

 

 

 

12,198

 

 

 

14,423

 

Other income (expense), net

 

 

1,719

 

 

 

(3

)

 

 

2,163

 

 

 

(7

)

Net loss

 

$

(21,715

)

 

$

(28,344

)

 

$

(76,675

)

 

$

(82,855

)

 

(1) Personnel related expenses include ($0.1) million and $5.0 million of severance and other benefits expense for the three and nine months ended September 30, 2025, respectively.

(2) Other segment items include consultants and contractor, lab supplies, and general business expenses.