v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Centessa Pharmaceuticals plc is a clinical-stage pharmaceutical company with a mission to discover, develop and ultimately deliver medicines that are transformational for patients. While the Company received non-recurring revenue related to the out-license of Genmab and related antibodies in the year ended December 31, 2025, its ability to generate recurring product revenue and to become profitable will depend upon the ability to successfully develop, obtain regulatory approval and commercialize any current and future product candidates.
The Company manages the business as one segment. Its operating results are regularly reviewed by the Company’s Chief Executive Officer, who is the chief operating decision-maker (“CODM”), based on available financial information prepared on a consolidated basis. The CODM evaluates its performance based primarily on research and development efforts and the results of clinical trials. The CODM also utilizes the Company’s long-range plan as a strategic tool to allocate resources according to the Company’s strategic objectives. The consolidated net loss is used to monitor budget versus actual results in assessing segment performance and the allocation of resources. Assets provided to the CODM are consistent with those reported on the Consolidated Balance Sheets with particular emphasis on the Company’s available liquidity, including its cash, cash equivalents, and investments.
The following table presents reportable segment loss, including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the years ended December 31, 2025 and December 31, 2024 (in thousands):
Years Ended December 31,
20252024
Revenue
$15,000 $— 
Less:
cleminorexton¹(78,479)(31,876)
Other Orexin program expenses¹(50,969)(9,567)
LockBody technology platform expenses(11,970)(10,886)
Discontinued R&D program expenses
(3,698)(90,261)
Non-program specific expenses:
Personnel expenses¹(29,932)(21,580)
Research tax incentives22,669 30,942 
Other internal R&D expenses(4,260)(2,149)
General and administrative expenses²(35,091)(32,132)
Share-based compensation
(30,962)(33,546)
Interest income
20,527 14,016 
Interest expense
(11,459)(10,090)
Loss on extinguishment of debt
— (34,097)
Other segment items3
2,911 (1,687)
Income tax (expense) benefit
(1,819)(2,844)
Consolidated net loss
$(197,532)$(235,757)
¹ Beginning December 31, 2025, expenses related to the cleminorexton trial have been identified as significant segment expenses. The expenses for this trial have been recast for periods prior to December 31, 2025. These amounts were previously combined and disclosed under “OX2R program expenses” for the year ended December 31, 2024.
² Excludes share-based compensation which is presented separately below
3 Other segment items includes Other non-operating income (expense), net