Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

(in thousands)

(in thousands)

Total revenue

$

1,418

$

18,658

$

11,677

$

69,575

External costs incurred by product candidate (target):

Varseta-M (EpCAM)

6,225

3,679

14,039

7,949

CX-801 (IFNα2b)

437

452

781

940

CX-904 (EGFRxCD3)

227

(550

)

468

561

Other wholly owned and partnered programs

272

498

415

894

General research and development expenses

1,925

1,520

4,808

4,050

 Total external costs

9,086

5,599

20,511

14,394

 Internal costs

8,512

7,723

16,325

17,795

 Research and development expenses

17,598

13,322

36,836

32,189

General and administrative expenses

7,601

6,622

18,294

16,050

Total operating expenses

25,199

19,944

55,130

48,239

Income (loss) from operations

(23,781

)

(1,286

)

(43,453

)

21,336

Interest income

3,157

1,178

4,647

2,133

Other income

18

17

11

28

Income (loss) before income taxes

(20,606

)

(91

)

(38,795

)

23,497

Provision for income taxes

60

63

119

126

Net income (loss)

$

(20,666

)

$

(154

)

$

(38,914

)

$

23,371