v3.26.1
Segments and geographic information - Significant segment expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segments and geographic information      
Collaboration revenue $ 72,586 $ 35,275 $ 26,976
Research and development:      
Total research and development 240,283 172,966 156,496
General and administrative:      
Effect of foreign exchange rates (700) 700 600
Total general and administrative 79,368 72,181 60,426
Total operating expenses 319,651 245,147 216,922
Net loss $ (218,960) $ (169,031) $ (180,664)
Segment Reporting, Other Segment Item, Composition, Description Other segment items include interest and other income, interest expense, loss on extinguishment of debt, gain on extinguishment of research and development funding liability and provision for (benefit from) income taxes. Other segment items include interest and other income, interest expense, loss on extinguishment of debt, gain on extinguishment of research and development funding liability and provision for (benefit from) income taxes. Other segment items include interest and other income, interest expense, loss on extinguishment of debt, gain on extinguishment of research and development funding liability and provision for (benefit from) income taxes.
Single reportable segment      
Segments and geographic information      
Collaboration revenue $ 72,586 $ 35,275 $ 26,976
Research and development:      
Discovery, platform and other expense 43,221 30,293 37,815
Employee and contractor related expenses 69,701 58,687 46,506
Share-based compensation 18,024 19,424 15,581
Facility expenses 6,999 8,105 8,845
Research and development incentives and government grants (34,920) (43,207) (24,459)
Total research and development 240,283 172,966 156,496
General and administrative:      
Personnel-related costs 28,358 23,500 18,985
Professional and consulting fees 20,646 20,258 14,814
Other general and administrative costs 9,577 9,047 9,137
Share-based compensation 21,440 18,657 16,896
Effect of foreign exchange rates (653) 719 594
Total general and administrative 79,368 72,181 60,426
Total operating expenses 319,651 245,147 216,922
Other segment items 28,105 40,841 9,282
Net loss (218,960) (169,031) (180,664)
Single reportable segment | Zelenectide pevedotin (Nectin-4)      
Research and development:      
Project specific costs 126,780 82,705 44,135
Single reportable segment | BT5528 (EphA2)      
Research and development:      
Project specific costs 8,487 9,119 9,195
Single reportable segment | Bicycle tumor-targeted immune cell agonists      
Research and development:      
Project specific costs $ 1,991 $ 7,840 $ 18,878