v3.26.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents segment revenue and significant segment expenses (in thousands) for the three months ended March 31, 2026 and 2025:
THREE MONTHS ENDED MARCH 31,
20262025
REVENUE:
Total segment revenue367 211,246 
LESS:
Rinvatercept program expenses(2,650)(1,517)
Elritercept program expenses(3)(18,895)
Cibotercept program expenses324 (5,908)
Preclinical & development expenses(2,006)(1,744)
Compensation costs (excluding stock based compensation)(8,190)(13,777)
Other external costs(7,047)(7,796)
Other segment items1(4,503)(13,158)
Net income (loss)(23,708)148,451 
Schedule of Accrued Compensation and Benefits Costs
Accrued compensation and benefits costs as of March 31, 2026 is as follows (in thousands):
RESTRUCTURING LIABILITY
Balance as of December 31, 2025145 
Expenses incurred— 
Cash payments(145)
Balance as of March 31, 2026— 
1 Other segment items include other expense, income tax provision, bank fees, depreciation expense, dividend income and stock-based compensation.