XML 25 R18.htm IDEA: XBRL DOCUMENT v3.25.1
Segments
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segments

9. Segments

The Company currently operates as one operating business segment focused on developing innovative medicines in areas of high unmet need for cancer patients. The Company's determination that it operates as a single segment is consistent with the financial information regularly reviewed by the CODM for purposes of evaluating performance, allocating resources, and planning and forecasting for future periods.

The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the segment based on net loss, which is reported on the statement of operations and comprehensive loss as net loss. The measure of segment assets is reported on the balance sheet as total assets.

To date, the Company has not recognized any revenue from product sales, and the Company does not expect to generate any revenue in the foreseeable future. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment and to make decisions about the allocation of resources, along with cash forecast models.

The following tables summarizes the significant expense categories regularly reviewed by the CODM for the three months ended March 31, 2025 and 2024:

 

 

Three months ended March 31,

 

(in thousands)

 

2025

 

 

2024

 

Operating expenses:

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

PRT3789

 

$

4,493

 

 

$

4,161

 

PRT7732

 

 

2,979

 

 

 

—

 

Discovery programs

 

 

2,468

 

 

 

5,190

 

Other

 

 

2,429

 

 

 

2,865

 

General costs, including personnel related

 

 

16,447

 

 

 

15,193

 

Total research and development

 

 

28,816

 

 

 

27,409

 

General and administrative

 

 

5,790

 

 

 

6,934

 

Total operating expenses

 

$

34,606

 

 

$

34,343

 

Loss from operations

 

 

(34,606

)

 

 

(34,343

)

Other income, net

 

 

2,521

 

 

 

2,912

 

Net loss

 

$

(32,085

)

 

$

(31,431

)