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SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We are currently developing therapies for the treatment of hematologic malignancies. To date, our main source of product revenue has been from U.S. sales of RYTELO, which began shipping to customers in June 2024. Additionally, we have generated insignificant royalty and license fee revenue under agreements that out-license technology to various companies.
We have one operating and reportable segment. We define our operating segment based on internally reported financial information that is regularly reviewed by the Chief Operating Decision Maker, or CODM, to analyze financial performance, make decisions, and allocate resources. Our President and Chief Executive Officer is the CODM.
The CODM reviews the segment's profit or loss based on net (loss) income reported on the consolidated statement of operations and comprehensive (loss) income and considers forecast-to-actuals variances on a quarterly basis for expenses that are deemed significant. Further, the CODM reviews the segment's assets based on total assets reported on the condensed consolidated balance sheet. All long-lived assets are held in the U.S.
Our CODM views specific categories within research and development expenses and selling, general and administrative expenses as significant given the correlation between cash burn and profitability. The following table reconciles reported revenues to net (loss) income under the significant expense principle for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
(in millions)
20262025
Revenues:
Product revenue, net51.8 39.4 
Royalties— 0.2 
Total revenues$51.8 $39.6 
Operating expenses:
Cost of goods sold1.7 1.2 
Research and development
Research and clinical expenses13.0 13.7 
Chemistry, manufacturing, and control expenses0.6 1.5 
Restructuring charges(0.2)— 
Selling, general and administrative
Commercial expenses17.0 20.0 
Restructuring charges(0.2)— 
Other segment expenses*19.8 19.9 
Total interest and other income (expense)(3.7)(3.1)
Net loss$(3.6)$(19.8)
    
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*Other segment expenses includes stock-based compensation expense and other general and administrative expenses largely resulting from personnel costs for individuals in administrative functions and legal and professional fees.