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Discontinued Operations

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. DISCONTINUED OPERATIONS

Mural Oncology Separation

In connection with the Separation, the Company and Mural entered into, among other agreements: a separation agreement; a tax matters agreement; and an employee matters agreement, which are described in Note 3, Discontinued Operations in the “Notes to Consolidated Financial Statements” accompanying the Annual Report.

Discontinued Operations

The Company determined that the Separation met the criteria for classification of its former oncology business as discontinued operations in accordance with Topic 205. During the three and six months ended June 30, 2025, the Company recorded no losses from discontinued operations. The following summarizes the loss from discontinued operations for the three and six months ended June 30, 2024:

		Three Months Ended				Six Months Ended
(In thousands)		June 30, 2024				June 30, 2024
Operating expenses from discontinued operations
Cost of goods manufactured		$	—			$	—
Research and development			3,913				6,429
Selling, general and administrative			—				—
Total operating expenses from discontinued operations			3,913				6,429
Operating loss from discontinued operations			(3,913	)			(6,429	)
Income tax benefit from discontinued operations			(613	)			(1,009	)
Net loss and comprehensive loss from discontinued operations		$	(3,300	)		$	(5,420	)

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- References

No definition available.

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- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/205-20/tableOfContent

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

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