| Segment information |
13. Segment information The Company views its operations and manages its business in one operating segment: life science. The Company expects to continue to incur significant expenses as it advances product candidates through all stages of development and clinical trials and, ultimately, seek regulatory approval. The table below summarizes the significant expense categories for the life science segment regularly reviewed by the chief operating decision maker for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Total revenues | | $ | 360,519 | | $ | 178,875 | | $ | 633,070 | | $ | 1,354,971 | Less: | | | | | | | | | | | | | Cost of product, collaboration and license sales | | | 10,933 | | | 8,093 | | | 30,611 | | | 15,800 | Program spend | | | 42,580 | | | 49,705 | | | 80,125 | | | 97,863 | Employee costs | | | 68,348 | | | 65,593 | | | 144,469 | | | 133,292 |
Manufacturing costs | | | 6,232 | | | 19,519 | | | 15,317 | | | 34,470 | Administrative costs | | | 16,547 | | | 17,896 | | | 33,236 | | | 36,310 | Occupancy costs | | | 7,493 | | | 6,643 | | | 15,848 | | | 13,825 | Other segment items (a) | | | 124,890 | | | 76,275 | | | 232,777 | | | 221,698 | Segment net income (loss) | | $ | 83,496 | | $ | (64,849) | | $ | 80,687 | | $ | 801,713 | Reconciliation of profit or loss | | | | | | | | | | | | | Adjustments and reconciling items | | | — | | | — | | | — | | | — | Consolidated net income (loss) | | $ | 83,496 | | $ | (64,849) | | $ | 80,687 | | $ | 801,713 |
| (a) | Other segment items includes the following: |
| | | | | | | | | | | | | | | | Three months ended June 30, | | | Six months ended June 30, | | | | 2026 | | 2025 | | | 2026 | | 2025 | Interest income | | $ | (18,119) | | $ | (20,991) | | $ | (36,104) | | $ | (38,236) | Interest expense | | | 66,600 | | | 51,349 | | | 133,615 | | | 102,686 | Income tax expense (benefit) | | | 14,049 | | | (6,203) | | | 14,396 | | | 57,063 | Depreciation | | | 4,009 | | | 3,573 | | | 7,815 | | | 7,031 | Amortization | | | 11,841 | | | 4,061 | | | 23,422 | | | 7,859 | All other (b) | | | 46,510 | | | 44,486 | | | 89,633 | | | 85,295 | Total other segment items | | $ | 124,890 | | $ | 76,275 | | $ | 232,777 | | $ | 221,698 |
| (b) | All other includes cost of goods sold, royalty, travel and entertainment, distribution costs, bad debt expense, finance costs, contract labor costs, stock compensation expense, change in the fair value of contingent consideration, and other expense. |
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