v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting

10. Segment Reporting

We operate in a single industry segment which is the discovery, development and commercialization of precision medicines for the treatment of cancer. Troy E. Wilson, Ph.D., J.D., our president and chief executive officer, who serves as the Chief Operating Decision-Maker, or CODM, reviews the operating results on an aggregate basis and manages the operations as a single operating segment in the United States. When evaluating our financial performance, the CODM regularly reviews total revenues, total expenses, and research and development expenses by program and the CODM makes decisions using this information.

The table below is a summary of the segment profit or loss, including significant expenses, in thousands:

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

2026

 

 

2025

 

2026

 

 

2025

 

Revenue

 

 

 

 

 

 

 

 

 

 

Product revenue, net

$

9,122

 

 

$

—

 

$

14,888

 

 

$

—

 

Collaboration revenue

 

11,752

 

 

 

15,288

 

 

24,251

 

 

 

29,396

 

Total revenue

 

20,874

 

 

 

15,288

 

 

39,139

 

 

 

29,396

 

Less:

 

 

 

 

 

 

 

 

 

 

Cost of product sales

 

243

 

 

 

—

 

 

505

 

 

 

—

 

Ziftomenib-related costs

 

34,938

 

 

 

37,584

 

 

71,818

 

 

 

67,531

 

Darlifarnib-related costs

 

5,985

 

 

 

6,141

 

 

12,553

 

 

 

11,376

 

Discovery stage program-related costs

 

1,901

 

 

 

1,490

 

 

3,301

 

 

 

3,579

 

Research and development personnel costs and other expenses

 

15,829

 

 

 

14,856

 

 

33,029

 

 

 

30,231

 

Share-based compensation expense

 

8,209

 

 

 

6,949

 

 

16,625

 

 

 

14,791

 

Other segment expenses(1)

 

26,779

 

 

 

20,934

 

 

53,133

 

 

 

39,254

 

Total operating expenses

 

93,884

 

 

 

87,954

 

 

190,964

 

 

 

166,762

 

Other income (expenses)

 

 

 

 

 

 

 

 

 

 

Interest and other income, net

 

5,033

 

 

 

6,935

 

 

10,859

 

 

 

14,814

 

Interest expense

 

(345

)

 

 

(391

)

 

(681

)

 

 

(773

)

Income tax expense

 

(5

)

 

 

—

 

 

(13

)

 

 

(226

)

Segment and net loss

$

(68,327

)

 

$

(66,122

)

$

(141,660

)

 

$

(123,551

)

 

(1)
Other segment expenses are comprised of selling, general and administrative expenses, excluding share-based compensation expense, which is shown separately.