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Segment Information | 3 Months Ended
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Mar. 31, 2026
Segment Information |
Segment Information | 10. Segment Information We operate our business in one operating segment, which also represents one reportable segment: life sciences. The life sciences segment focuses on advancing innovative medicines that, in the case of the Company, treat cancer patients that do not respond to, or that have disease progression on, current therapies, through the use of differentiated mechanisms of action including ADCs. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The accounting policies of the life sciences segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The CODM assesses performance for the life science segment based on net loss, which is reported on the statements of operations and comprehensive net loss as net loss. The measure of segment assets is reported on the balance sheet as total assets. To date, the Company has not generated any product revenue. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as it advances product candidates through all stages of development and clinical trials and, ultimately, seek regulatory approval. As such, the CODM uses cash forecast models in deciding how to invest into the life sciences segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment and in establishing management’s compensation, along with cash forecast models. The tables below summarize the significant expense categories regularly reviewed by the CODM for the three months ended March 31, 2026 and 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
(in thousands) | ​ | March 31,
​ | ​ | 2026 | ​ ​ ​ | ​ | 2025
Research and development expenses | ​ | ​ | ​ | ​ | ​ | ​
Employee costs | ​ | $ | 2,039 | ​ | $ | 2,930
Clinical product candidates | ​ | ​ | 3,101 | ​ | ​ | 2,968
Nonclinical product candidates | ​ | ​ | 858 | ​ | ​ | 729
Depreciation and amortization | ​ | ​ | 277 | ​ | ​ | 634
Other R&D (1) | ​ | ​ | 559 | ​ | ​ | 635
Total R&D | ​ | $ | 6,834 | ​ | $ | 7,896
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative expenses | ​ | ​ | ​ | ​ | ​ | ​
Employee costs | ​ | $ | 1,523 | ​ | $ | 2,077
Professional services | ​ | ​ | 1,112 | ​ | ​ | 1,081
Insurance | ​ | ​ | 222 | ​ | ​ | 262
Other G&A (2) | ​ | ​ | 414 | ​ | ​ | 306
Total G&A | ​ | $ | 3,271 | ​ | $ | 3,726
​
| (1) | Other R&D consists of facilities related expenses and office expenses.
| (2) | Other G&A consists of facilities related expenses, depreciation, office expenses and taxes and fees.

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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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