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Segment Reporting | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company has one reportable and operating segment, which is engaged in the business of drug discovery and development. The Company’s chief operating decision maker (“CODM”) is the Company’s chief executive officer. The CODM uses the Company’s net loss to monitor actual results versus the budget in assessing segment performance and the allocation of resources. The measure of segment assets is reported on the balance sheets as total assets. Accounting policies for segment reporting are the same as the accounting policies disclosed in Note 2. The following table sets forth information about the Company’s single reportable segment and the significant expenses reviewed by the CODM, including a reconciliation to net loss (in thousands):
| Three Months Ended March 31,
| 2026 |  | 2025
Revenue | $ | — |  |  | $ | — |
Operating expenses: |  |  |
Research and development: |  |  |
SL-325 1 | 2,861 |  |  | 2,229 |
Other research and development 2,3 | 4,667 |  |  | 4,606 |
Research and development non-equity compensation | 2,382 |  |  | 2,397 |
Research and development equity compensation | 1,036 |  |  | 687 |
Total research and development | 10,946 |  |  | 9,919 |
General and administrative expenses: |  |  |
General and administrative non-equity compensation | 1,427 |  |  | 1,353 |
General and administrative equity compensation | 1,379 |  |  | 1,033 |
Other general and administrative including legal and accounting fees, facilities, insurance, travel and depreciation | 1,793 |  |  | 2,084 |
Total general and administrative | 4,599 |  |  | 4,470 |
Expense from operations | 15,545 |  |  | 14,389 |
Loss from operations | (15,545) |  |  | (14,389) |
Other Income | 778 |  | 687 |
Net Loss | $ | (14,767) |  |  | $ | (13,702) |
1 Expenses for SL-325 that were incurred prior to it being nominated a product candidate are included in “other research and development”. 2 Other research and development expense includes technical operations expense of $1.9 million and $2.4 million, research activities for other pipeline compounds and facility expenses of $1.9 million and $1.3 million and depreciation expense of $0.9 million and $0.9 million for the three months ended March 31, 2026 and 2025, respectively. 3 Other research and development expense includes a gain of $0.7 million due to a change in estimate and expense of $2.0 million for the three months ended March 31, 2026 and 2025, respectively, related to SL-172154 which was discontinued in October 2024.

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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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