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Segment Disclosures (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Summary Of Significant Expense Related To The Life Science Segment

The table below summarizes segment net loss, including significant expenses for the years ended December 31, 2024 and 2023 (in thousands):

 

Year Ended December 31,

 

 

2024

 

 

2023

 

Royalty revenues and sale of royalty rights

 

$

16,146

 

 

$

 

Costs and operating expenses

 

 

 

 

 

 

Cost of revenues

 

 

475

 

 

 

 

Research and development

 

 

 

 

 

 

Clinical product candidates

 

 

24,456

 

 

 

10,638

 

Clinical product manufacturing

 

 

11,200

 

 

 

3,333

 

Personnel-related expenses excluding stock-based compensation

 

 

14,293

 

 

 

21,885

 

Stock-based compensation

 

 

3,002

 

 

 

4,409

 

Depreciation and amortization

 

 

1,922

 

 

 

1,634

 

Other (i)

 

 

3,874

 

 

 

7,687

 

Total research and development expenses

 

 

58,747

 

 

 

49,586

 

General and administrative

 

 

 

 

 

 

Personnel-related expenses excluding stock-based compensation

 

 

5,837

 

 

 

8,553

 

Stock-based compensation

 

 

9,943

 

 

 

12,537

 

Professional and consultant fees

 

 

4,491

 

 

 

6,347

 

Other (ii)

 

 

5,149

 

 

 

5,173

 

Total general and administrative expenses

 

 

25,420

 

 

 

32,610

 

Impairment of in-process research and development intangible asset

 

 

20,964

 

 

 

 

Total costs and operating expenses

 

 

105,606

 

 

 

82,196

 

Other segment income (iii)

 

 

9,965

 

 

 

8,406

 

Income tax benefit

 

 

(2,164

)

 

 

 

Segment net loss

 

$

(77,331

)

 

$

(73,790

)

Reconciliation of profit or loss

 

 

 

 

 

 

Adjustments and reconciling items

 

 

 

 

 

 

Consolidated net loss

 

$

(77,331

)

 

$

(73,790

)

 

(i)

Other research and development segment items include facilities expenses, lab services, professional services, technology costs, depreciation and amortization of intangible assets.

(ii)

Other general and administrative segment items include facilities expenses, technology costs, insurance and depreciation.

(iii)

Other segment income for the years ended December 31, 2024 and 2023 consisted of $7.0 million and $6.6 million of interest and investment income and $2.9 million and $1.8 million of sublease income, respectively.