13. Segment Information

 

The Company operates and manages its business as one operating and reportable segment, which is the business of research and development for oncology-focused precision medicine. The Company’s chief operating decision maker (“CODM”) is its President and CEO. The Company’s measure of segment profit or loss is net income. For purposes of evaluating performance and allocating resources, the CODM reviews the financial information and evaluates net income against comparable prior periods and the Company’s forecast. All of the Company's long-lived assets are primarily located in the United States.

 

In addition to the significant expense categories included within net income presented on the Company's statements of operations and comprehensive loss, see below for disaggregated research and development expenses:

 

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

External clinical development expenses (1):

 

 

 

 

 

 

 

 

 

Darovasertib

 

$

98,071

 

 

$

55,335

 

 

$

25,829

 

IDE397

 

 

14,662

 

 

 

16,629

 

 

 

11,985

 

IDE161

 

 

7,598

 

 

 

9,743

 

 

 

7,104

 

IDE849

 

 

11,457

 

 

 

75,000

 

 

 

 

Personnel related and stock-based compensation

 

 

67,192

 

 

 

54,543

 

 

 

38,948

 

Other research and development expenses(2)

 

 

115,724

 

 

 

83,423

 

 

 

45,642

 

Total research and development expenses

 

$

314,704

 

 

$

294,673

 

 

$

129,508

 

(1) External clinical development expenses include manufacturing and clinical trial costs. These expenses are primarily for services

provided by external consultants, CMOs (“Contract Manufacturing Organizations”) and CROs (“Contract Research

Organizations”)

(2) Other research and development expenses include manufacturing and clinical trial costs for preclinical and earlier clinical stage

programs. These expenses are primarily for services provided by external consultants, CMOs and CROs.

Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2024Feb 18, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.