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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting

17. Segment Reporting

The Company operates in a single operating segment and has one reportable segment, which includes all activities related to the discovery, development, and manufacturing of its product candidates. The determination of a single segment is consistent with the consolidated financial information regularly provided to the Company's chief operating decision maker ("CODM"). The Company’s CODM is its chief executive officer. The CODM uses consolidated net loss for purpose of assessing performance, making operating decisions and allocating resources. The measurement of segment assets is reported on the balance sheet as total consolidated assets.

The table below provides information about the Company’s segment (in thousands):

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Collaboration revenue

$

107,936

 

 

$

110,319

 

 

$

—

 

Operating expenses:

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

 

 

anito-cel in rrMM

 

50,141

 

 

 

73,530

 

 

 

96,513

 

ACLX-001

 

1,975

 

 

 

2,939

 

 

 

8,764

 

ACLX-002

 

14,294

 

 

 

5,667

 

 

 

6,458

 

Other research and development costs

 

21,364

 

 

 

3,701

 

 

 

5,467

 

Internal costs [1]

 

69,319

 

 

 

48,012

 

 

 

32,353

 

General and administrative

 

88,414

 

 

 

66,350

 

 

 

41,704

 

Total operating expenses

 

245,507

 

 

 

200,199

 

 

 

191,259

 

Loss from operations

 

(137,571

)

 

 

(89,880

)

 

 

(191,259

)

       Interest and other income (expense), net

 

33,322

 

 

 

23,695

 

 

 

4,300

 

       Interest expense

 

(1,030

)

 

 

(3,842

)

 

 

(1,720

)

Total other income, net

 

32,292

 

 

 

19,853

 

 

 

2,580

 

       Income tax expense

 

(2,069

)

 

 

(663

)

 

 

—

 

Net loss

$

(107,348

)

 

$

(70,690

)

 

$

(188,679

)

 

[1]Internal costs primarily consist of employee-related costs, including salaries, related benefits, and share-based compensation expense, as well as facility allocation and depreciation expense.