Segment Information

12 Months Ended

Dec. 31, 2024

Segment Information

Segment Information

3. Segment Information

The Company operates in a single segment, which is the development and commercialization of human therapeutics. The Company has determined that its chief executive officer is the CODM. When evaluating the Company’s financial performance, the CODM reviews total revenues and total expenses and makes financial decisions using this information on a consolidated net income (loss) basis.

The following table summarizes significant segment expenses:

	Year Ended December 31,
(In thousands)	2024		2023
Total revenue	$	64,381	$	57,424
Employee-related (Research and development) 1		12,212		12,699
External-related (Research and development)		17,112		14,473
Facilities, depreciation, and other allocated expenses (Research and development)		3,215		5,401
Supporting general and administration functions 1		27,156		31,928
Sales and marketing, and medical affairs 1		25,729		21,202
Share-based compensation		21,393		25,013
Total recurring operating expenses		106,817		110,716
Impairment of long-lived assets		4,513		—
Restructuring and related expenses		—		2,743
Total operating expenses		111,330		113,459
Loss from operations		(46,949)		(56,035)
Interest expense (non-cash)		(2,546)		(2,350)
Interest and other income, net		4,881		9,116
Provision for income tax expense		(11,804)		(5,924)
Net loss	$	(56,418)	$	(55,193)

¹ Excludes share-based compensation