v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Centessa Pharmaceuticals plc is a clinical-stage biotechnology company pioneering a new class of therapeutics in orexin-based neuroscience. While the Company received non-recurring revenue related to the out-license of Genmab and related antibodies for the three months ended March 31, 2025, the Company’s 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 three months ended March 31, 2026 and March 31, 2025 (in thousands):
Three Months Ended
March 31, 2026		Three Months Ended
March 31, 2025
License and other revenue$— $15,000 
Less:
Cleminorexton¹(20,503)(13,666)
Other Orexin program expenses1
(23,758)(6,427)
LockBody technology program expenses(1,530)(3,418)
Discontinued R&D program expenses52 (2,917)
Other R&D expenses:
Personnel expenses2
(11,714)(6,302)
Research tax incentives3,630 4,259 
Other internal R&D expenses(1,983)(815)
General and administrative expenses¹(13,402)(8,608)
Share-based compensation(10,565)(7,883)
Interest income5,138 7,890 
Interest expense(2,731)(2,877)
Other segment items3
(1,025)1,026 
Income tax expense
(850)(1,397)
Consolidated net loss$(79,241)$(26,135)
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 quarter ended March 31, 2025.
² Excludes share-based compensation which is presented separately below
3 Other segment items includes Other non-operating income (expense), net