v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company manages its operations as a single segment focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, obesity, neuroscience, and oncology. The CEO, as the Company's chief operating decision maker, manages and allocates resources at a consolidated level.
The CEO uses net loss that is also reported on the condensed consolidated statement of operations as net loss to assess performance and decide how to allocate resources. The measure of segment assets is reported on the condensed consolidated balance sheet as total consolidated assets. Expenditures for the addition of long-lived assets are reported on the condensed consolidated statements of cash flows as purchases of property and equipment.
Additional information about segment profit or loss and significant segment expenses is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Direct R&D program expense
BHV-4157 (Troriluzole)$1,300 $10,769 $15,926 $38,802 
BHV-2000 (Taldefgrobep Alfa)6,354 4,489 21,417 18,719 
BHV-7000 & BHV-7010 (Kv7)19,295 29,671 52,873 92,415 
BHV-2100 & BHV-2110 (TRPM3 Antagonist)
(1,178)2,720 (1,708)26,314 
BHV-8000 (TYK2/JAK1)4,208 4,134 13,520 29,722 
BHV-1300 (IgG Degrader)9,818 8,628 20,821 28,980 
BHV-1310 (IgG Degrader)(149)369 (168)5,055 
BHV-1400 (IgA Degrader)10,067 8,049 26,913 19,646 
BHV-1600 (β1-AR AAB Degrader)29 1,977 (70)6,786 
BHV-1510 (TROP-2)
2,166 9,327 8,668 19,200 
BHV-1530 (FGFR3)2,576 2,437 5,985 21,006 
Other R&D program expense9 562 72 2,177 
Preclinical research programs R&D Expense
12,239 16,675 28,518 58,608 
R&D personnel expense (excluding share-based compensation)(1)
18,234 20,473 58,667 62,100 
R&D Share-based compensation expense
12,066 13,947 42,524 62,291 
G&A personnel expense (excluding share-based compensation)(1)
5,819 6,276 17,039 18,755 
G&A Share-based compensation expense
6,558 7,588 23,550 33,118 
Other segment items (2)
17,009 21,291 47,200 58,950 
Non-operating expense (income)2,923 3,840 14,776 (10,468)
(Benefit) provision for income taxes(64)221 599 1,091 
Segment net loss
129,279 173,443 397,122 593,267 
Reconciliation of profit or loss
Adjustments and reconciling items
— — — — 
Consolidated net loss
$129,279 $173,443 $397,122 $593,267 
(1)    Personnel expense includes employee payroll, bonus, and employee benefits for medical care, retirement, insurances and other.
(2)    Other segment items included in Segment net loss include unallocated non-program R&D expense, legal, accounting and other professional service fees, rent and utilities expense, depreciation, and other corporate expenses.