v3.26.1
Business Segment (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Summary of Segment Reporting Information
The table below is a summary of the segment net loss, including significant segment expenses (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Total revenues41 160 58 188 
Adjusted for expense (income):
Late-stage development programs (1)
51 74 111 129 
Early-stage development and preclinical programs (2)
21 38 39 80 
Compensation and personnel costs58 61 129 128 
Depreciation and amortization2 2 5 5 
Interest income, net(5)(8)(11)(18)
Other segment items (3)
22 26 40 47 
Partnership reimbursements(17)(33)(36)(71)
Segment net income (loss) and Consolidated net income (loss)$(91)$— $(219)$(112)
(1) R&D expenses incurred related to a Phase 3 clinical program intended to result in registration of a new product. This includes all unallocated program-level expense not directly attributable to a specific clinical trial once the related program enters into one or more Phase 3 clinical trials.
(2) R&D expenses incurred for activities ranging from early-stage development and preclinical to Phase 2 clinical trials. This includes all unallocated program-level expense not directly attributable to a specific clinical trial unless the related program has entered into one or more Phase 3 clinical trials.
(3) Other segment items includes non-allocated program costs and other G&A costs.