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Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has one operating segment with the goal to discover, develop and commercialize therapeutics (“Therapeutics”). There have been no material changes to the Company's segment structure, the basis of segmentation, or the measurement basis for segment profit or loss or segment assets, compared to those disclosed in Note 14, "Segment Information", to the consolidated financial statements in the Company's 2025 Annual Report on Form 10-K.
The following table presents selected financial information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2026 and 2025 (in thousands):
Therapeutics Segment
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Product revenue, net$17,778 $— $21,382 $— 
Less:
Cost of goods sold192 — 285 — 
External research and development expenses - TV programs, including cost sharing43,574 35,157 122,457 119,209 
Other research and development expenses, including small molecule programs
21,145 25,056 61,193 79,403 
Personnel related research and development expenses
41,383 41,737 123,317 122,261 
Total research and development expenses106,102 101,950 306,967 320,873 
Personnel related selling, general and administrative expenses
22,502 22,079 67,987 60,932 
Other selling, general and administrative expenses
14,983 13,405 39,292 36,172 
Total selling, general and administrative expenses37,485 35,484 107,279 97,104 
Intangible asset amortization750 — 1,500 — 
Segment operating expenses144,529 137,434 416,031 417,977 
Segment loss from operations(126,751)(137,434)(394,649)(417,977)
Gain on sale of priority review voucher, net194,000 — 194,000 — 
Segment interest and other income, net2,877 10,532 14,775 33,986 
Segment net income (loss)$70,126 $(126,902)$(185,874)$(383,991)
There is no difference between the segment net income (loss) and total consolidated net income (loss) for the three and nine months ended September 30, 2026 and 2025.