| Schedule of Reportable Segment Net Revenues and Loss |
The table below provides information about the Company’s segment, including significant expenses, other segment items, certain other segment expenses, and a reconciliation to net income (loss) (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
|
|
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2026 |
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|
2025 |
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|
2026 |
|
|
2025 |
|
License and collaboration revenue |
|
$ |
490 |
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|
$ |
8,466 |
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|
$ |
32,228 |
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|
$ |
15,936 |
|
Research and development expenses |
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|
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|
|
|
|
|
|
External research and development expenses* |
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|
31,566 |
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|
|
39,891 |
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|
|
61,643 |
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|
|
74,312 |
|
Employee related expenses* |
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|
31,955 |
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|
|
27,623 |
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|
|
64,822 |
|
|
|
56,865 |
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General and administrative expenses |
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External general and administrative expenses* |
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9,562 |
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|
6,302 |
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|
22,927 |
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|
|
11,675 |
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Employee related expenses* |
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|
12,703 |
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|
|
9,992 |
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|
|
24,654 |
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|
|
20,433 |
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Facility and information technology related expenses* |
|
|
15,441 |
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|
|
14,576 |
|
|
|
29,879 |
|
|
|
28,960 |
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Depreciation and amortization |
|
|
5,410 |
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|
|
5,538 |
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|
|
11,015 |
|
|
|
11,066 |
|
Stock-based compensation |
|
|
19,278 |
|
|
|
24,367 |
|
|
|
38,322 |
|
|
|
51,049 |
|
Interest and other income |
|
|
(7,487 |
) |
|
|
(12,326 |
) |
|
|
(17,354 |
) |
|
|
(22,190 |
) |
Other segment items |
|
|
4,740 |
|
|
|
(5,359 |
) |
|
|
13,316 |
|
|
|
(5,766 |
) |
Net income (loss) |
|
$ |
(122,678 |
) |
|
$ |
(102,138 |
) |
|
$ |
(216,996 |
) |
|
$ |
(210,468 |
) |
* Denotes significant segment expense Other segment items includes: •Change in fair value of derivative liabilities •Change in fair value of non-controlling equity investments •Change in fair value of contingent consideration liabilities •License and sublicenses fees •Gain on sale of equity method investment
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