| Schedule of Reportable Segment Net Revenues and Loss |
The table below provides information about the Company’s segment, including significant expenses, other segment items, certain other segment expenses, and a reconciliation to net income (loss):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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License and collaboration revenue |
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$ |
8,466 |
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$ |
11,772 |
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$ |
15,936 |
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$ |
19,182 |
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Research and development expenses |
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External research and development expenses* |
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39,891 |
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24,206 |
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74,312 |
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49,567 |
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Employee related expenses* |
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27,623 |
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23,026 |
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56,865 |
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47,595 |
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General and administrative expenses |
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External general and administrative expenses* |
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6,302 |
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7,630 |
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11,675 |
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12,696 |
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Employee related expenses* |
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9,992 |
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8,134 |
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20,433 |
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16,725 |
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Facility and information technology related expenses* |
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14,576 |
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14,210 |
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28,960 |
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27,877 |
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Depreciation and amortization |
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5,538 |
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5,576 |
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11,066 |
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11,007 |
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Stock-based compensation |
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24,367 |
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31,604 |
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51,049 |
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60,885 |
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Interest and other income |
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|
(12,326 |
) |
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(14,190 |
) |
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(22,190 |
) |
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(26,039 |
) |
Income tax expense |
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— |
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39 |
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— |
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39 |
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Other segment items |
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(5,206 |
) |
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2,588 |
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(4,673 |
) |
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|
8,550 |
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Net income (loss) |
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$ |
(102,291 |
) |
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$ |
(91,051 |
) |
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$ |
(211,561 |
) |
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$ |
(189,720 |
) |
* Denotes significant segment expense Other segment items includes: •Change in fair value of derivative liabilities •Change in fair value of non-controlling equity investments •Change in fair value of contingent consideration liabilities •Loss from equity method investment •License and sublicenses fees
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