| Schedule of reconciliation of the Company's net loss |
The table below shows a reconciliation of the Company’s net income (loss), including the significant expense categories regularly provided to and reviewed by the CODM, as computed under U.S. GAAP to the Company’s total net income (loss) in the condensed statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Operating revenue by external customer: |
|
|
|
|
|
|
|
|
|
|
|
|
Sanofi collaboration revenue |
|
$ |
143,623 |
|
|
$ |
1,254 |
|
|
$ |
144,122 |
|
|
$ |
1,751 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued clinical programs(1): |
|
|
|
|
|
|
|
|
|
|
|
|
Imvotamab – Autoimmune programs |
|
$ |
(215 |
) |
|
$ |
2,522 |
|
|
$ |
2,522 |
|
|
$ |
5,393 |
|
Aplitabart |
|
|
(418 |
) |
|
|
8,976 |
|
|
|
1,367 |
|
|
|
16,748 |
|
Other discontinued programs |
|
|
(3 |
) |
|
|
1,529 |
|
|
|
(207 |
) |
|
|
5,255 |
|
Preclinical and other R&D (2) |
|
|
1,802 |
|
|
|
5,394 |
|
|
|
3,689 |
|
|
|
12,102 |
|
Personnel |
|
|
3,104 |
|
|
|
16,907 |
|
|
|
14,507 |
|
|
|
33,405 |
|
Depreciation and facilities |
|
|
1,593 |
|
|
|
6,634 |
|
|
|
6,322 |
|
|
|
12,874 |
|
General and administrative: |
|
|
|
|
|
|
|
|
|
|
|
|
Personnel |
|
|
4,648 |
|
|
|
7,236 |
|
|
|
11,619 |
|
|
|
14,238 |
|
Other general and administrative (3) |
|
|
4,933 |
|
|
|
3,413 |
|
|
|
9,011 |
|
|
|
6,949 |
|
Impairment and disposal of long-lived assets |
|
|
31,917 |
|
|
|
— |
|
|
|
53,806 |
|
|
|
— |
|
Other income: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
1,322 |
|
|
|
3,455 |
|
|
|
3,206 |
|
|
|
7,495 |
|
Net income (loss) |
|
$ |
97,584 |
|
|
$ |
(47,902 |
) |
|
$ |
44,692 |
|
|
$ |
(97,718 |
) |
(1)Discontinued clinical program expenses were primarily driven by the wind down of aplitabart and other discontinued programs, including imvotamab in oncology and autoimmune diseases, IGM-2644 in oncology and autoimmunity, and IGM-7354, and the receipt of refunds from certain CROs.
|