| Schedule of reconciliation of collaboration revenue and segment expenses to net (loss) income for segment |
| | | | | | | | | | | | Year ended December 31, | | | 2025 | | 2024 | | 2023 | Collaboration revenue | | $ | 40,374 | | $ | 80,001 | | $ | 250,008 | External research and development (1): | | | | | | | | | | Anti-tau antibody program (VY7523) | | | 20,069 | | | 15,647 | | | 16,923 | SOD1 silencing gene therapy program | | | 2,267 | | | 15,818 | | | 6,251 | Tau silencing gene therapy program (VY1706) | | | 19,188 | | | 7,455 | | | 696 | Partnered programs (2) | | | 5,495 | | | 4,985 | | | 7,650 | Other programs and platforms (3) | | | 17,332 | | | 14,176 | | | 14,488 | Internal research and development (4) | | | 42,106 | | | 38,422 | | | 27,860 | Facilities and other research and development (5) | | | 28,217 | | | 30,865 | | | 18,304 | General and administrative (5) | | | 37,544 | | | 35,920 | | | 35,822 | Interest income | | | 10,618 | | | 18,328 | | | 11,721 | Other income | | | 1,649 | | | 622 | | | 3 | Income tax provision | | | 144 | | | 665 | | | 1,408 | Net (loss) income | | $ | (119,721) | | $ | (65,002) | | $ | 132,330 |
(1)External research and development is allocated to the Company’s programs and platforms, and includes laboratory supplies, and non-employee consultant and contractor costs. (2)Partnered programs include programs in which the Company is collaborating with partners to develop AAV gene therapy products and product candidates under the Company’s 2019 and 2023 Neurocrine Collaboration Agreements, and the 2023 Novartis Collaboration Agreement. | (3) | Other programs and platforms consist of expenses related to other early research programs and platforms which are not considered quantitatively and qualitatively significant, including capsid discovery, non-viral delivery, and early research programs. |
| (4) | Internal research and development consist of employee-related expenses including salaries, benefits, and stock-based compensation expense. |
| (5) | Depreciation and amortization expense is allocated between general and administrative and facilities and other research and development. |
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