Business segment (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The table below is a summary of the segment net loss, including significant segment expenses (in millions):

	Year Ended December 31, 2025		Year Ended December 31, 2024		Year Ended December 31, 2023
Total revenues	$	247	$	258	$	117
Adjusted for expense (income):
Late-stage development programs (1)	274		252		168
Early-stage development and preclinical programs (2)	141		132		128
Compensation and personnel costs	245		250		223
Depreciation and amortization	10		10		8
Impairment of long-lived assets	—		20		—
Interest income, net	(33)		(48)		(39)
Income tax expense	—		1		6
Other segment items (3)	90		89		92
Partnership reimbursements	(127)		(165)		(162)
Segment net loss and Consolidated net loss	$	(353)	$	(283)	$	(307)

(1) R&D expenses incurred related to a Phase 3 clinical program intended to result in registration of a new product. This includes all unallocated program-level expense not directly attributable to a specific clinical trial once the related program enters into one or more Phase 3 clinical trials.

(2) R&D expenses incurred for activities ranging from early-stage development and preclinical to Phase 2 clinical trials. This includes all unallocated program-level expense not directly attributable to a specific clinical trial unless the related program has entered into one or more Phase 3 clinical trials.

(3) Other segment items includes non-allocated program costs and other G&A costs.