Segment Reporting

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We operate and manage our business as one reportable and operating segment. Our chief executive officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for purposes of allocating resources and evaluating financial performance based on consolidated net loss, as is reported in our condensed consolidated statements of operations.

Our long-lived assets are based in the United States and Switzerland. Long-lived assets are comprised of property and equipment. As of March 31, 2025 and December 31, 2024, property and equipment based in the United States was $40.5 million and $40.8 million, respectively. As of March 31, 2025 and December 31, 2024, property and equipment based in Switzerland was $176.6 million and $157.2 million, respectively.

This following table presents segment operation results for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025		2024
Operating expenses:
Research and development - external costs (1)	$	103,806	$	69,637
Research and development - internal costs (2)	44,328		24,950
General and administrative	32,659		19,885
Total operating expenses	$	180,793	$	114,472
Total other income, net	$	40,075	$	19,452
Net loss	$	140,718	$	95,020

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(1)Research and development - external costs consist of product manufacturing costs, clinical costs, research and development consumables, lab supplies and equipment, facility and allocated costs, and other external costs.

(2)Research and development - internal costs consist of internal employee costs including stock-based compensation expenses.