Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company manages its operations as a single segment, focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology. Our Chief Executive Officer (“CEO”), as the Company's chief operating decision maker, manages and allocates resources at a consolidated level.

Our CEO uses net loss that is also reported on the consolidated statement of operations as net loss to assess performance and decide how to allocate resources. The CEO uses net loss to evaluate the allocation of resources across functions, therapeutic areas, and research and development projects in line with our overarching long-term company-wide strategic goals as well as to monitor budget versus actual results.

The accounting policies of the Company's single operating segment are the same as those described in the summary of significant accounting policies as described in Note 2. The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets. In 2024 and 2023, materially all the Company's long-lived assets were held in the United States. Expenditures for the addition of long-lived assets are reported on the consolidated statements of cash flows as purchases of property and equipment.

Additional information about segment profit or loss and significant segment expenses is as follows:

	Year Ended December 31,
	2024		2023		2022
Direct R&D program expense
BHV-4157 (Troriluzole)	$	63,983	$	73,080	$	58,769
BHV-2000 (Taldefgrobep Alfa)	59,710		40,870		16,799
BHV-7000 & BHV-7010 (Kv7)	136,422		47,327		131,956
BHV-2100 (TRPM3 Antagonist)	29,044		12,865		8,255
BHV-8000 (TYK2/JAK1)	12,697		39,025		—
BHV-1300 (IgG Degrader)	30,078		22,239		—
BHV-1310 (IgG Degrader)	13,341		1,962		—
BHV-1400 (IgA Degrader)	19,572		1,810		—
BHV-1600 (β1-AR AAB Degrader)	14,650		254		—
BHV-1510 (Trop2)	28,540		—		—
BHV-1530 (FGFR3)	14,554		—		—
Other R&D program expense	2,821		5,615		21,207
Preclinical research programs R&D Expense	57,181		35,911		18,116
R&D personnel expense (excluding share-based compensation)(1)	73,644		60,058		53,743
R&D Share-based compensation expense	42,594		15,985		116,379
R&D Knopp amendment expense	171,850		—		—
G&A personnel expense (excluding share-based compensation)(1)	24,894		21,087		20,164
G&A Share-based compensation expense	29,369		12,802		77,177
Other segment items (2)	60,167		45,161		45,367
Non-operating (income) expense	(39,424)		(26,500)		1,909
Provision (benefit) for income taxes	735		(1,383)		438
Segment net loss	846,422		408,168		570,279
Reconciliation of profit or loss
Adjustments and reconciling items	—		—		—
Consolidated net loss	$	846,422	$	408,168	$	570,279

(1)    Personnel expense includes employee payroll, bonus, and employee benefits for medical care, retirement, insurances and other.

(2)    Other segment items included in Segment net loss include unallocated non-program R&D expense, legal, accounting and other professional service fees, rent and utilities expense, depreciation, and other corporate expenses.