| Schedule of segment information |
The table below presents segment information for the three and six months ended June 30, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Income and revenues | | $ | 13,129 | | $ | 11,086 | | $ | 29,041 | | $ | 12,576 | Business development and deal related costs | | | (1,817) | | | (741) | | | (2,873) | | | (1,418) | | | | | | | | | | | | | | Other segment items: | | | | | | | | | | | | | Research and development expenses | | | (69) | | | (1,161) | | | (1,362) | | | (1,194) | Depreciation of property and equipment | | | (3) | | | (3) | | | (6) | | | (5) | Other general and administrative expenses(1) | | | (5,982) | | | (10,260) | | | (13,069) | | | (18,042) | Credit losses on purchased receivables | | | — | | | (9,000) | | | — | | | (9,000) | Amortization of intangible assets | | | (655) | | | — | | | (1,199) | | | — | Gain on the acquisition of Kinnate | | | — | | | 19,316 | | | — | | | 19,316 | Change in fair value of embedded derivative related to RPA | | | — | | | 8,100 | | | — | | | 8,100 | Change in fair value of derivatives related to Castle Creek | | | 5 | | | — | | | 5 | | | — | Interest expense | | | (3,236) | | | (3,402) | | | (6,703) | | | (6,953) | Other income, net | | | 7,819 | | | 2,050 | | | 7,724 | | | 4,010 | Segment and consolidated net income | | $ | 9,191 | | $ | 15,985 | | $ | 11,558 | | $ | 7,390 |
(1)Other general and administrative expenses for the three and six months ended June 30, 2025 included general and administrative expenses of $7.8 million and $15.9 million, respectively, net of business development and deal related costs and depreciation of property and equipment.
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| Schedule of income and revenue by geographical region |
Income and revenue attributed to the following geographic regions based on the location of the partners and licensees was as follows (in thousands): | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | United States | | $ | 7,371 | | $ | 6,523 | | $ | 13,466 | | $ | 8,013 | Switzerland | | | 5,758 | | | — | | | 11,575 | | | — | Europe | | | — | | | 4,563 | | | — | | | 4,563 | Asia Pacific | | | — | | | — | | | 4,000 | | | — | Total | | $ | 13,129 | | $ | 11,086 | | $ | 29,041 | | $ | 12,576 |
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