Business Segment (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Summary of Segment Reporting Information

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

	Three Months Ended March 31,
	2026		2025
Total revenues	17		28
Adjusted for expense (income):
Late-stage development programs (1)	60		55
Early-stage development and preclinical programs (2)	18		42
Compensation and personnel costs	70		66
Depreciation and amortization	2		3
Interest income, net	(6)		(10)
Other segment items (3)	20		22
Partnership reimbursements	(19)		(38)
Segment net loss and Consolidated net loss	$	(128)	$	(112)

(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.