Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Reportable Segment Profit and Loss, Including Significant Expense Categories, Attributable to the Company's Reportable Segment

The following table presents reportable segment profit and loss, including significant expense categories, attributable to the Company's reportable segment for the periods presented:

	Years Ended December 31,
	2024			2023			2022
Revenue1:
Collaboration revenue	$	35,000		$	370,000		$	436
Grant revenue		2,314			1,206			762
Less2:
Research and development expense3		262,427			330,121			397,067
General and administrative expense4		25,453			32,589			45,012
Collaboration expense, net		110,250			130,250			110,250
Stock-based compensation expense		86,567			81,028			97,947
Depreciation expense		19,183			19,756			24,083
Other income, net5		(103,901	)		(71,816	)		(22,661	)
Provision (benefit) for income taxes		3,587			2,888			(325	)
Segment net income		(366,252	)		(153,610	)		(650,175	)
Reconciliation of profit or loss:
Adjustments or reconciling items		—			—			—
Consolidated net loss		(366,252	)		(153,610	)		(650,175	)

(1) Collaboration revenue for the years ended December 31, 2024, 2023 and 2022 is related to our license agreements and collaborations with Vertex, as further described in Note 8 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K. Collaboration revenue is attributed to the CRISPR Therapeutics AG entity, which is domiciled in Switzerland.

(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(3) Research and development expense for the years ended December 31, 2024, 2023 and 2022 is net of $47.9 million, $46.4 million, and $54.0 million of stock-based compensation expense, respectively, and $10.3 million, $10.9 million, and $10.6 million of depreciation expense, respectively. For the year ended December 31, 2024, the Company recorded a non-cash adjustment of $4.8 million related to an option expiration which was recognized as a benefit to research and development expense.

(4) General and administrative expense for the years ended December 31, 2024, 2023 and 2022 is net of $38.6 million, $34.7 million, and $44.0 million of stock-based compensation expense, respectively, and $8.9 million, $8.9 million, and $13.5 million of depreciation expense, respectively.

(5) Other income, net, consists primarily of interest income on investments, as further described in Note 3 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K. For the years ended December 31, 2024, 2023 and 2022, the Company recognized interest income of $104.3 million, $76.4 million, and $23.3 million, respectively.