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Segment Reporting | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting Segment Reporting The chief operating decision maker (“CODM”), who is defined as the Company’s chief executive officer, assesses performance for the Company’s single reportable segment and decides how to allocate resources based on the Company’s total operating expenses as reported on the condensed consolidated statements of operations and comprehensive loss. The CODM’s review of total operating expenses at the consolidated level is used to monitor the Company’s spending as well as budget versus actual results. The Company’s reportable segment primarily generates revenue through its license agreements. As part of the CODM’s review of the segment’s performance, the CODM reviews the Company’s operating expense information, grouped by certain detailed line items from the internal income statement reporting. This includes research and development costs as well as general and administrative expenses. Based upon the operating expense information, the CODM can reconcile to net loss as reported on the consolidated statements of operations and comprehensive loss, shown in the table below. The following table presents the segment loss, including significant segment expenses, for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Operating expenses |  |  |  |  |  |  |
Compensation and benefits | $ | 16,032 |  |  | $ | 13,469 |  |  | $ | 32,338 |  |  | $ | 27,929 |
Clinical trial and manufacturing | 18,707 |  |  | 4,483 |  |  | 29,680 |  |  | 7,838 |
Facilities and IT | 6,045 |  |  | 9,594 |  |  | 17,793 |  |  | 16,562 |
Other research and development | 2,815 |  |  | 945 |  |  | 4,958 |  |  | 1,726 |
Other segment(a) | 6,256 |  |  | 4,413 |  |  | 13,307 |  |  | 8,048 |
Total operating expenses | $ | 49,855 |  |  | $ | 32,904 |  |  | $ | 98,076 |  |  | $ | 62,103 |
Operating loss | (49,855) |  |  | (32,904) |  |  | (98,076) |  |  | (62,103) |
Other income, net | 664 |  |  | 2,406 |  |  | 1,866 |  |  | 4,458 |
Segment and consolidated net loss | $ | (49,191) |  |  | $ | (30,498) |  |  | $ | (96,210) |  |  | $ | (57,645) |
(a) | Other segment include professional services, consultants and contractors, travel and entertainment expenses, and general business expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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