v3.25.2
Segment reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment reporting Segment reporting
The Company is managed and operated as one reportable segment, which includes all global activities related to the development and commercialization of targeted ADC cancer therapies. The determination of a single reportable segment is consistent with the consolidated financial information regularly provided to the Company’s CODM, which is its chief executive officer. The CODM uses loss from operations and consolidated net loss for purposes of assessing performance, making operating decisions, allocating resources and planning and forecasting for future periods. The CODM allocates resources and plans for the long-term growth of the Company based on the Company's available cash resources, forecasted cash flow, and expenditures on a consolidated basis, as well as an assessment of the probability of success of its research and development activities. Resource allocation and long-term growth decisions are informed by budgeted and forecasted expense information, along with actual expenses incurred to date. The measure of segment assets is reported on the consolidated balance sheets as total assets.

The following table is the summary of the segment profit or loss information, including the significant expense categories for the three and six months ended June 30, 2025 and 2024, respectively:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Total revenues, net$18,839 $17,410 $41,872 $35,463 
Significant operating expenses:
   Cost of product sales(836)(1,217)(2,897)(3,727)
   Research and development(1)
(29,605)(23,887)(57,540)(50,172)
   Selling and marketing(1)
(9,760)(10,504)(20,077)(22,534)
   General and administrative(1)
(7,632)(8,855)(16,395)(19,538)
   Restructuring and impairment expenses(13,091)— (13,091)— 
   Share-based compensation(2,062)(1,988)(4,483)(2,146)
Total operating expenses(62,986)(46,451)(114,483)(98,117)
Loss from operations(44,147)(29,041)(72,611)(62,654)
   Other segment items(2)
(12,499)(7,503)(22,637)(20,496)
Net loss$(56,646)$(36,544)$(95,248)$(83,150)

(1)Excludes share-based compensation.
(2)Includes Other expense, net, Income tax expense and Equity in net losses of joint venture.