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Segment Information
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information
11. Segment Information
We have one reportable segment which focuses on the discovery and development of cancer therapeutics. The segment derives its revenues from the Collaboration Agreement with Jazz (see Note 3, Collaboration and License Agreement).
Our chief operating decision maker (“CODM”) manages our operations on an integrated basis for the purpose of allocating resources. When evaluating our financial performance, our CODM regularly reviews total expenses and expenses by function and makes decisions using this information based on the performance of the enterprise as a whole. Our CODM primarily evaluates the performance of the enterprise based on results that have a direct impact on our available cash and cash equivalents and accordingly places less significance on non-cash expenses such as stock-based compensation and depreciation expenses in determining how to allocate resources.
Segment assets regularly reviewed by our CODM include measures of liquidity, primarily available cash and cash equivalents, and are consistent with the presentation of cash and cash equivalents reported in our condensed consolidated balance sheets.
The following is a summary of our segment and consolidated net loss, including significant segment expenses:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025202420252024
(in thousands)
Collaboration revenue
$— $— $— $1,885 
Less:
Clinical development5,802 4,162 15,841 12,574 
General and administrative support3,350 3,437 10,659 10,797 
Research and discovery3,692 4,125 10,548 11,670 
Manufacturing1,247 2,935 7,945 11,800 
Other segment expenses(a)
1,635 2,465 6,266 8,290 
Interest income697 1,598 2,544 5,364 
Interest expense(1,341)(1,244)(3,905)(3,389)
Loss on extinguishment of debt— — — (553)
Other income, net— 97 179 1,709 
Segment and consolidated net loss$(16,370)$(16,673)$(52,441)$(50,115)
(a) Other segment expenses includes non-cash expenses for stock-based compensation and depreciation expenses.