Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

The following table presents information about the Company's segment revenues, significant segment expenses regularly provided to the CODM, other segment items and consolidated net income (loss) (in thousands):

	Three Months Ended March 31,
	2025			2024
Revenues	$	89,012		$	15,622
Less:
Cost of license and royalty revenues		3,436			4,283
Research and development expense
Personnel		18,643			17,060
Direct development and support (a)		24,017			26,033
Facilities		2,768			2,917
Stock-based compensation		3,947			4,893
Depreciation and amortization		3,712			3,941
Total research and development expense		53,087			54,844
General and administrative expense
Personnel		5,964			5,318
Other general and administrative (b)		8,220			6,992
Facilities		1,330			1,033
Stock-based compensation		4,590			4,709
Depreciation and amortization		243			239
Total general and administrative expense		20,347			18,291
Other segment items (c)		(6,059	)		(1,534	)
Net income (loss)	$	6,083		$	(63,330	)

(a)Direct development and support includes external goods and services for the development of product candidates and early-stage research activities, laboratory costs, consulting, development cost reimbursement to and from collaborators and other expenses in support of research and development activities.

(b)Other general and administrative expenses include professional and administrative services, consulting, commercial cost reimbursement to and from collaborators and other corporate overhead expenses.

(c)Other segment items include impairment of long-lived assets, other operating expenses (income), interest income from licensing, investment income and interest expense.