v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information

13. Segment Information

 

The Company operates as a single operating segment, which is the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through the inhibition of the complement system, which is an integral component of the immune system. The Company defines its segment on the basis in which internally reported financial information is regularly reviewed by the chief operating decision maker ("CODM") to analyze financial performance, make decisions, and allocate resources. The CODM is the chief executive officer (“CEO”). The Company’s CODM reviews consolidated net loss for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.

The following table presents information about reported segment revenue, segment loss, and significant segment expenses as provided to the CODM with respect to the Company’s single operating segment for the three months ended March 31, 2025 and 2024:

 

For the Three Months Ended March 31,

 

 

2025

 

 

2024

 

Revenue

$

166,797

 

 

$

172,325

 

Less:

 

 

 

 

 

Internal research and development costs

 

22,950

 

 

 

19,724

 

Internal selling, general and administrative costs

 

46,668

 

 

 

46,339

 

External commercial costs

 

56,993

 

 

 

58,672

 

External research and development costs

 

51,720

 

 

 

50,992

 

External general and administrative costs

 

10,060

 

 

 

8,129

 

Other segment items (1)

 

34,525

 

 

 

20,709

 

Share-based compensation expense

 

27,374

 

 

 

30,349

 

Interest income

 

(2,658

)

 

 

(3,303

)

Interest expense

 

11,049

 

 

 

6,967

 

Income tax expense

 

341

 

 

 

170

 

Net loss

$

(92,225

)

 

$

(66,423

)

(1) Other segment items include cost of sales, and other expenses.