| Schedule of Reportable Segment Net Revenues and Loss |
The table below provides information about the Company’s segment, including significant expenses, other segment items, certain other segment expenses, and a reconciliation to net income (loss) (in thousands):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
|
|
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2026 |
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2025 |
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|
2026 |
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|
2025 |
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License and collaboration revenue |
|
$ |
307 |
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|
$ |
9,698 |
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|
$ |
32,535 |
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|
$ |
25,634 |
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Research and development expenses |
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External research and development expenses* |
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31,497 |
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|
33,565 |
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|
|
93,140 |
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|
|
107,879 |
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Employee related expenses* |
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|
32,242 |
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|
|
27,636 |
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|
|
97,064 |
|
|
|
84,502 |
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General and administrative expenses |
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External general and administrative expenses* |
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9,447 |
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|
6,589 |
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32,374 |
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|
|
18,265 |
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Employee related expenses* |
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12,486 |
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|
10,145 |
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|
|
37,141 |
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|
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30,578 |
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Facility and information technology related expenses* |
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16,358 |
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|
15,116 |
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|
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46,237 |
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|
|
44,076 |
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Depreciation and amortization |
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|
5,445 |
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|
5,560 |
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|
|
16,460 |
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|
|
16,626 |
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Stock-based compensation |
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|
18,555 |
|
|
|
22,747 |
|
|
|
56,877 |
|
|
|
73,796 |
|
Interest and other income |
|
|
(6,094 |
) |
|
|
(10,903 |
) |
|
|
(23,448 |
) |
|
|
(33,093 |
) |
Other segment items |
|
|
14,776 |
|
|
|
11,814 |
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|
|
28,091 |
|
|
|
6,044 |
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Net income (loss) |
|
$ |
(134,405 |
) |
|
$ |
(112,571 |
) |
|
$ |
(351,401 |
) |
|
$ |
(323,039 |
) |
* Denotes significant segment expense Other segment items includes: •Change in fair value of derivative liabilities •Change in fair value of non-controlling equity investments •Change in fair value of contingent consideration liabilities •License and sublicense fees •Gain on sale of equity method investment •In-process research and development charges
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