| Schedule of Revenue and Expenses |
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Year Ended December 31, |
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2025 |
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2024 |
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(in thousands) |
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Total revenue |
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$ |
76,201 |
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|
$ |
138,103 |
|
External costs incurred by product candidate (target): |
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CX-904 (EGFRxCD3) |
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|
459 |
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|
|
7,487 |
|
Varseta-M |
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|
24,302 |
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|
|
17,846 |
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CX-801 (IFNα2b) |
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|
1,627 |
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|
|
2,505 |
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Other wholly owned and partnered programs |
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|
1,922 |
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|
|
7,075 |
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General research and development expenses |
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|
7,495 |
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|
|
16,288 |
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Total external costs |
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|
35,805 |
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|
|
51,201 |
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Internal costs |
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|
32,923 |
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|
|
32,181 |
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Research and development expenses |
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|
68,728 |
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|
|
83,382 |
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General and administrative expenses |
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|
29,837 |
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|
|
29,726 |
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Total operating expense |
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|
98,565 |
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|
|
113,108 |
|
Income (loss) from operations |
|
|
(22,364 |
) |
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|
24,995 |
|
Interest income |
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|
5,206 |
|
|
|
7,136 |
|
Other income (expense), net |
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|
28 |
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|
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(38 |
) |
Income/(loss) before income taxes |
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|
(17,130 |
) |
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|
32,093 |
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Provision for income taxes |
|
|
238 |
|
|
|
224 |
|
Net income (loss) |
|
$ |
(17,368 |
) |
|
$ |
31,869 |
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|