v3.26.1
Segments (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Summary of the Segment Profit or Loss, Including Significant Segment Expenses

The following table is a summary of the segment profit or loss, including significant segment expenses:

 

 

Three Months Ended
March 31,

 

(in thousands)

 

2026

 

 

2025

 

Segment expenses:

 

 

 

 

 

 

 

 

Telitacicept - gMG(a)

 

$

 

9,793

 

 

$

 

—

 

Telitacicept - SjD(a)

 

 

 

2,500

 

 

 

 

—

 

Trem-cel(a)

 

 

 

250

 

 

 

 

6,382

 

VCAR33(a)

 

 

 

73

 

 

 

 

3,636

 

Other research and development(a)

 

 

 

776

 

 

 

 

2,995

 

Salaries and benefits

 

 

 

7,555

 

 

 

 

11,613

 

General corporate activities

 

 

 

4,974

 

 

 

 

5,169

 

Other segment items(b)

 

 

 

193,664

 

 

 

 

2,691

 

Segment expenses:

 

 

 

219,585

 

 

 

 

32,486

 

Segment net loss

 

$

 

(219,585

)

 

$

 

(32,486

)

 

(a) Includes only external research and development expenditures.

(b) Other segment items are primarily comprised of interest income on marketable securities and certain non-cash expenses such as change in fair value of warrant liabilities, stock-based compensation, and depreciation expense.