v3.26.3
Segment Information (Tables)
 6 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Significant Segment Expenses
The Company’s significant segment expenses are as follows (in thousands):
Three Months Ended September 30,Six Months Ended September 30,
2026202520262025
Product revenue, net$30,969 $— $30,969 $— 
License, milestone and other revenue4,152 1,571 5,594 3,741 
Less:
Cost of revenues3,347 111 3,631 265 
Program-specific research and development expenses:
Anti-FcRn franchise—endocrine diseases22,461 24,895 65,346 44,224 
Anti-FcRn franchise—neurological diseases18,274 23,087 43,729 44,024 
Anti-FcRn franchise—rheumatology diseases9,864 13,611 32,204 21,820 
Anti-FcRn franchise—dermatology diseases648 7,952 8,190 13,097 
Anti-FcRn franchise—other clinical and nonclinical268 319 2,877 2,711 
Brepocitinib14,436 14,715 28,528 29,735 
Mosliciguat19,051 7,467 32,092 15,852 
Other development and discovery programs11,815 11,184 22,933 21,420 
Research and development share-based compensation7,965 10,996 16,686 22,095 
Research and development personnel-related expenses33,267 40,658 79,621 83,188 
Other research and development expenses7,698 9,684 15,557 19,321 
Selling, general and administrative share-based compensation71,332 70,825 145,953 141,904 
Selling, general and administrative personnel-related expenses38,792 37,951 94,992 68,061 
Other selling, general and administrative expenses43,952 34,349 78,658 67,179 
Gain on litigation settlement— — (392)— 
Change in fair value of investments(60,292)(128,501)(96,929)(109,376)
Change in fair value of liability instruments— 20,959 — 23,288 
Interest income(41,612)(45,341)(78,534)(93,663)
Other expense, net200 5,694 2,330 16,902 
Income tax (benefit) expense(13,371)6,995 (17,329)11,644 
Income from discontinued operations, net of tax(15,763)— (15,763)— 
Net loss$(137,211)$(166,039)$(427,817)$(439,950)