v3.26.1
Pay vs Performance Disclosure - USD ($)
 5 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2022
Aug. 08, 2022
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table    
Pay Versus Performance Disclosure
In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officers, or PEOs, and
Non-PEO
NEOs and company performance for the fiscal years listed below. The compensation & people committee did not consider the pay versus performance disclosure below in making its compensation decisions for any of the years shown. For discussion of how our compensation & people committee seeks to align pay with performance when making compensation decisions, please review Compensation Discussion and Analysis beginning on page 40 of this Proxy Statement.
 
Year
  
Summary
Compensation
Table Total
for PEO 1(1)
($)
    
Summary
Compensation
Table Total
for PEO 2(1)
($)
    
Compensation
Actually Paid
to PEO 1
(1)(2)(3)
($)
    
Compensation
Actually Paid
to PEO
2(1)(2)(3)
($)
    
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs(1)
($)
    
Average
Compensation
Actually Paid
to
Non-PEO

NEOs(1)(2)(3)
($)
    
Value of
Initial Fixed
$100
Investment

based on:(4)
    
Net
Income
($
Millions)
    
Net
Product
Revenue(5)

($
Millions)
  
 
Total
Shareholder
Return
($)
    
Peer Group
Total
Shareholder
Return
($)
  
2025
     —        5,370,389       —        5,976,610       2,444,836       2,239,171       62.82       119.92       (413 )      54.03  
2024
     —        6,776,359       —        12,973,276       2,462,405       3,526,736       75.84       90.58       674       36.50  
2023
     —        3,416,453       —        2,214,078       2,436,689       2,165,913       51.40       91.84       (352 )      26.82  
2022
     4,911,049       11,744,447       3,809,001       11,143,330       1,958,794       1,440,120       64.80       88.53       (232 )      11.74  
2021
     6,519,427       —        1,457,816       —        2,188,153       857,046       75.86       99.37       1,605       0.00  
 
(1)
Jacqualyn A. Fouse, Ph.D. (PEO 1) was our PEO for 2021 and until August 8, 2022. Brian Goff (PEO 2) has been our PEO since August 8, 2022. The individuals comprising the
Non-PEO
NEOs for each year presented are listed below.
 
2021
  
2022
  
2023-2024
  
2025
Jonathan Biller   Jonathan Biller   Sarah Gheuens, M.D., Ph.D.   Cecilia Jones
Christopher Bowden   Bruce Car, Ph.D.   Cecilia Jones   James Burns
Bruce Car, Ph.D.   Sarah Gheuens, M.D., Ph.D.   James Burns   Sarah Gheuens, M.D., Ph.D.
Sarah Gheuens, M.D., Ph.D.   Richa Poddar   Tsveta Milanova   Krishnan Viswanadhan, Pharm.D
Richa Poddar   Cecilia Jones    
Darrin Miles   James Burns    
 
(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect the actual amount of compensation actually earned, realized, or received by the company’s NEOs during the applicable years. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
 
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column for PEO 2 and the
non-PEO
NEOs are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
 
Year
   
Summary
Compensation
Table Total
for PEO 2
($)
     
Exclusion of Stock
Awards and
Option Awards for
PEO 2
($)
    
Inclusion of Equity
Values for
PEO 2
($)
     
Compensation
Actually Paid to
PEO 2
($)
  
2025
      5,370,389        (3,918,932 )      4,525,153        5,976,610  
 
Year
   
Average
Summary
Compensation
Table Total for
Non-PEO NEOs

($)
     
Average Exclusion
of Stock Awards
and Option
Awards for
Non-PEO NEOs

($)
    
Average Inclusion
of Equity Values
for
Non-PEO

NEOs
($)
     
Average
Compensation
Actually Paid
to Non-PEO

NEOs
($)
  
2025
      2,444,836        (1,597,065 )      1,391,400        2,239,171  
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
   
Year-End
Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of
Year for
PEO 2
($)
     
Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards
Granted in any
Prior Year for
PEO 2
($)
    
Vesting-Date Fair

Value of Equity
Awards Granted
During Year that
Vested During
Year for
PEO 2
($)
     
Change in Fair Value
from Last Day of
Prior Year to Vesting
Date of Unvested
Equity Awards
Granted in any Prior
Year that Vested
During Year for
PEO 2
($)
     
Fair Value at
Last Day of Prior
Year of Equity
Awards
Forfeited During
Year for
PEO 2
($)
     
Total—Inclusion
of Equity Values
for PEO 2
($)
  
2025
      3,224,443        (1,046,174 )      —        2,346,884        —        4,525,153  
 
Year
   
Average Year-End

Fair Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of Year
for
Non-PEO

NEOs
($)
     
Average Change
in Fair Value
from Last Day
of Prior Year to
Last Day of
Year of
Unvested Equity
Awards
Granted in any
Prior Year for
Non-PEO
NEOs
($)
    
Average Vesting-
Date Fair Value
of Equity
Awards Granted
During Year
that Vested
During Year for
Non-PEO
NEOs
($)
     
Average Change
in Fair Value
from Last Day
of Prior Year to
Vesting Date of
Unvested Equity
Awards
Granted in any
Prior Year that
Vested During
Year for
Non-PEO
NEOs
($)
     
Average Fair
Value at
Last Day of
Prior Year
of Equity
Awards
Forfeited
During Year
for
Non-PEO

NEOs
($)
     
Total—Average
Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
  
2025
      1,302,731        (214,864 )      —        303,532        —        1,391,400  
 
(4)
The peer group TSR set forth in this table utilizes the NASDAQ Biotechnology Index (“NASDAQ Biotech Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report on Form
10-K
for the year ended December 31, 2025, filed with the SEC on February 12, 2026. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the company and in the NASDAQ Biotech Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
 
(5)
We determined net product revenue to be the most important financial performance measure used to link company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs in 2025. This performance measure may not have been the most important financial performance measure for 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years. Assumptions used in revenue recognition are described in Note 2, Summary of Significant Accounting Policies, to our Consolidated Financial Statements in our Annual Report on Form
10-K
for the year ended December 31, 2025, filed with the SEC on February 12, 2026.
       
Company Selected Measure Name     net product revenue        
Named Executive Officers, Footnote    
2021
  
2022
  
2023-2024
  
2025
Jonathan Biller   Jonathan Biller   Sarah Gheuens, M.D., Ph.D.   Cecilia Jones
Christopher Bowden   Bruce Car, Ph.D.   Cecilia Jones   James Burns
Bruce Car, Ph.D.   Sarah Gheuens, M.D., Ph.D.   James Burns   Sarah Gheuens, M.D., Ph.D.
Sarah Gheuens, M.D., Ph.D.   Richa Poddar   Tsveta Milanova   Krishnan Viswanadhan, Pharm.D
Richa Poddar   Cecilia Jones    
Darrin Miles   James Burns    
       
Peer Group Issuers, Footnote    
(4)
The peer group TSR set forth in this table utilizes the NASDAQ Biotechnology Index (“NASDAQ Biotech Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report on Form
10-K
for the year ended December 31, 2025, filed with the SEC on February 12, 2026. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the company and in the NASDAQ Biotech Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
       
Adjustment To PEO Compensation, Footnote    
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column for PEO 2 and the
non-PEO
NEOs are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
Year
   
Summary
Compensation
Table Total
for PEO 2
($)
     
Exclusion of Stock
Awards and
Option Awards for
PEO 2
($)
    
Inclusion of Equity
Values for
PEO 2
($)
     
Compensation
Actually Paid to
PEO 2
($)
  
2025
      5,370,389        (3,918,932 )      4,525,153        5,976,610  
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Year
   
Year-End
Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of
Year for
PEO 2
($)
     
Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards
Granted in any
Prior Year for
PEO 2
($)
    
Vesting-Date Fair

Value of Equity
Awards Granted
During Year that
Vested During
Year for
PEO 2
($)
     
Change in Fair Value
from Last Day of
Prior Year to Vesting
Date of Unvested
Equity Awards
Granted in any Prior
Year that Vested
During Year for
PEO 2
($)
     
Fair Value at
Last Day of Prior
Year of Equity
Awards
Forfeited During
Year for
PEO 2
($)
     
Total—Inclusion
of Equity Values
for PEO 2
($)
  
2025
      3,224,443        (1,046,174 )      —        2,346,884        —        4,525,153  
        
Non-PEO NEO Average Total Compensation Amount     $ 2,444,836 $ 2,462,405 $ 2,436,689 $ 1,958,794 $ 2,188,153
Non-PEO NEO Average Compensation Actually Paid Amount     $ 2,239,171 3,526,736 2,165,913 1,440,120 857,046
Adjustment to Non-PEO NEO Compensation Footnote    
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column for PEO 2 and the
non-PEO
NEOs are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
Year
   
Average
Summary
Compensation
Table Total for
Non-PEO NEOs

($)
     
Average Exclusion
of Stock Awards
and Option
Awards for
Non-PEO NEOs

($)
    
Average Inclusion
of Equity Values
for
Non-PEO

NEOs
($)
     
Average
Compensation
Actually Paid
to Non-PEO

NEOs
($)
  
2025
      2,444,836        (1,597,065 )      1,391,400        2,239,171  
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Year
   
Average Year-End

Fair Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of Year
for
Non-PEO

NEOs
($)
     
Average Change
in Fair Value
from Last Day
of Prior Year to
Last Day of
Year of
Unvested Equity
Awards
Granted in any
Prior Year for
Non-PEO
NEOs
($)
    
Average Vesting-
Date Fair Value
of Equity
Awards Granted
During Year
that Vested
During Year for
Non-PEO
NEOs
($)
     
Average Change
in Fair Value
from Last Day
of Prior Year to
Vesting Date of
Unvested Equity
Awards
Granted in any
Prior Year that
Vested During
Year for
Non-PEO
NEOs
($)
     
Average Fair
Value at
Last Day of
Prior Year
of Equity
Awards
Forfeited
During Year
for
Non-PEO

NEOs
($)
     
Total—Average
Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
  
2025
      1,302,731        (214,864 )      —        303,532        —        1,391,400  
        
Compensation Actually Paid vs. Total Shareholder Return    
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Cumulative TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and the company’s cumulative TSR over the five most recently completed fiscal years. The chart also compares the company’s cumulative TSR to that of the NASDAQ Biotech Index over the same period.
 
LOGO
       
Compensation Actually Paid vs. Net Income    
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Net Income
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and our net income during the five most recently completed fiscal years.
 
 
LOGO
       
Compensation Actually Paid vs. Company Selected Measure    
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Net Product Revenue
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and our net product revenue during the five most recently completed fiscal years.
 
 
LOGO
       
Total Shareholder Return Vs Peer Group    
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Cumulative TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and the company’s cumulative TSR over the five most recently completed fiscal years. The chart also compares the company’s cumulative TSR to that of the NASDAQ Biotech Index over the same period.
 
LOGO
       
Tabular List, Table    
Tabular List of Most Important Financial and
Non-Financial
Performance Measures
The following table presents the financial and
non-financial
performance measures that the company considers to have been the most important in linking Compensation Actually Paid to our PEO and other
Non-PEO
NEOs for 2025 to company performance. Of these measures, as noted above, we have identified net product revenue to be the most important financial performance measure used to link company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs in 2025.
 
Net Product Revenue
Clinical Milestones
Research Milestones
        
Total Shareholder Return Amount     $ 62.82 75.84 51.4 64.8 75.86
Peer Group Total Shareholder Return Amount     119.92 90.58 91.84 88.53 99.37
Net Income (Loss)     $ (413,000,000) $ 674,000,000 $ (352,000,000) $ (232,000,000) $ 1,605,000,000
Company Selected Measure Amount     54,030,000.00 36,500,000 26,820,000 11,740,000 0
Measure:: 1              
Pay vs Performance Disclosure              
Name     Net Product Revenue        
Measure:: 2              
Pay vs Performance Disclosure              
Name     Clinical Milestones        
Measure:: 3              
Pay vs Performance Disclosure              
Name     Research Milestones        
Jacqualyn A Fouse Ph D [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount     $ 0 $ 0 $ 0 $ 4,911,049 $ 6,519,427
PEO Actually Paid Compensation Amount     0 0 0 3,809,001 $ 1,457,816
PEO Name   Jacqualyn A. Fouse, Ph.D.         Jacqualyn A. Fouse, Ph.D.
Brian Goff [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount     5,370,389 6,776,359 3,416,453 11,744,447 $ 0
PEO Actually Paid Compensation Amount     $ 5,976,610 $ 12,973,276 $ 2,214,078 $ 11,143,330 $ 0
PEO Name Brian Goff   Brian Goff Brian Goff Brian Goff    
PEO | Brian Goff [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ (3,918,932)        
PEO | Brian Goff [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     4,525,153        
PEO | Brian Goff [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     3,224,443        
PEO | Brian Goff [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (1,046,174)        
PEO | Brian Goff [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
PEO | Brian Goff [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     2,346,884        
PEO | Brian Goff [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (1,597,065)        
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     1,391,400        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     1,302,731        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (214,864)        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     303,532        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ 0