| Segment information |
14. Segment information The Company views its operations and manages its business in one operating segment: life science. The Company expects to continue to incur significant expenses as it advances product candidates through all stages of development and clinical trials and, ultimately, seek regulatory approval. The table below summarizes the significant expense categories for the life science segment regularly reviewed by the chief operating decision maker for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Total revenues | | $ | 357,807 | | $ | 211,007 | | $ | 990,877 | | $ | 1,565,978 | Less: | | | | | | | | | | | | | Cost of product, collaboration and license sales | | | 12,740 | | | 12,441 | | | 43,351 | | | 28,241 | Program spend | | | 39,275 | | | 45,940 | | | 119,400 | | | 143,803 | Employee costs | | | 65,245 | | | 64,470 | | | 209,714 | | | 197,762 | Manufacturing costs | | | 11,632 | | | 11,048 | | | 26,949 | | | 45,517 | Administrative costs | | | 22,982 | | | 18,614 | | | 56,221 | | | 54,924 | Occupancy costs | | | 7,195 | | | 7,852 | | | 23,042 | | | 21,678 | Acquired in-process research and development | | | 111,000 | | | — | | | 111,000 | | | — | Other segment items (a) | | | 139,431 | | | 34,746 | | | 372,206 | | | 256,444 | Segment net (loss) income | | $ | (51,693) | | $ | 15,896 | | $ | 28,994 | | $ | 817,609 | Reconciliation of profit or loss | | | | | | | | | | | | | Adjustments and reconciling items | | | — | | | — | | | — | | | — | Consolidated net (loss) income | | $ | (51,693) | | $ | 15,896 | | $ | 28,994 | | $ | 817,609 |
| (a) | Other segment items include the following: |
| | | | | | | | | | | | | | | | Three months ended September 30, | | | Nine months ended September 30, | | | | 2026 | | 2025 | | | 2026 | | 2025 | Interest income | | $ | (20,928) | | $ | (19,089) | | $ | (57,032) | | $ | (57,325) | Interest expense | | | 66,794 | | | 51,681 | | | 200,409 | | | 154,367 | Income tax expense (benefit) | | | 10,605 | | | (38,970) | | | 25,001 | | | 18,093 | Depreciation | | | 4,222 | | | 3,569 | | | 12,037 | | | 10,600 | Amortization | | | 12,595 | | | 7,534 | | | 36,017 | | | 15,393 | All other (b) | | | 66,143 | | | 30,021 | | | 155,774 | | | 115,316 | Total other segment items | | $ | 139,431 | | $ | 34,746 | | $ | 372,206 | | $ | 256,444 |
| (b) | All other includes cost of goods sold, royalty, travel and entertainment, distribution costs, bad debt expense, finance costs, contract labor costs, stock compensation expense, change in the fair value of contingent consideration, loss on extinguishment of debt, net, and other expense. |
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