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Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting

9. Segment Reporting

Operating segments are defined as components of the entity for which separate financial information is made available and that is regularly evaluated by the chief operating decision maker (CODM) in making decisions regarding resource allocation and assessing performance. The Company's CODM is its Chief Executive Officer and the Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company is focused on the development of TCR-T therapy product candidates for the treatment of patients with cancer.

The CODM assesses the Company's performance by reviewing GAAP net loss and significant expenses by function along with the annual budget. The CODM considers budget-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources.

The following table provides information about the Company's single operating segment which includes significant expenses by function along with significant non-cash expense items.

 

 

Three Months Ended
March 31,

 

 

2026

 

 

2025

 

Revenue:

 

 

 

 

 

Collaboration and license revenue

$

982

 

 

$

2,171

 

Operating expenses:

 

 

 

 

 

Research and development:

 

 

 

 

 

Personnel expenses

 

8,331

 

 

 

8,816

 

Facility-related and other

 

4,565

 

 

 

5,548

 

Laboratory supplies, research materials and studies

 

4,278

 

 

 

9,489

 

Clinical studies

 

2,890

 

 

 

3,695

 

Stock-based compensation

 

1,231

 

 

 

1,738

 

Depreciation expense

 

609

 

 

 

502

 

General and administrative:

 

 

 

 

 

Personnel expenses

 

3,517

 

 

 

3,019

 

Legal and professional fees

 

1,692

 

 

 

1,954

 

Facility-related and other

 

1,690

 

 

 

1,808

 

Stock-based compensation

 

1,234

 

 

 

1,676

 

Depreciation Expense

 

84

 

 

 

176

 

Other (expense) income:

 

 

 

 

 

Interest and other income, net

 

1,162

 

 

 

2,802

 

Interest expense

 

(689

)

 

 

(679

)

Net loss

$

(28,666

)

 

$

(34,127

)