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v3.25.4

Segment Reporting - Schedule of Segment Revenue Reconciled to Consolidated Net Loss (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023
Segment Reporting Information [Line Items] |  |  |
Revenue: | $ 7,696 | $ 1,039 | $ 4,013
Less: |  |  |
Cost of product revenue | (1,076) | 0 | 0
Selling, general and administrative |  |  |
Selling, general and administrative | (191,331) | (99,737) | (58,094)
Research and development expenses |  |  |
Total research and development expenses | (332,058) | (240,156) | (168,527)
Total other income, net | 51,632 | 40,916 | 13,277
Income tax expense | (180) | 0 | 0
Loss on equity method investment | 0 | (470) | (5,198)
Net loss | (465,317) | (298,408) | (214,529)
Product revenue, net |  |  |
Segment Reporting Information [Line Items] |  |  |
Revenue: | 5,420 | 0 | 0
Collaboration and license revenue |  |  |
Segment Reporting Information [Line Items] |  |  |
Revenue: | 2,276 | 1,039 | 4,013
Reportable Segment |  |  |
Segment Reporting Information [Line Items] |  |  |
Revenue: | 7,696 | 1,039 | 4,013
Less: |  |  |
Cost of product revenue | (1,076) | 0 | 0
Selling, general and administrative |  |  |
External selling, general and administrative expenses | (90,013) | (38,733) | (20,362)
Selling, general and administrative personnel expenses | (60,638) | (32,285) | (19,428)
Selling, general and administrative stock-based compensation | (40,680) | (28,719) | (18,304)
Selling, general and administrative | (191,331) | (99,737) | (58,094)
Research and development expenses |  |  |
Paltusotine | (68,337) | (51,229) | (46,772)
Atumelnant | (48,131) | (24,524) | (13,118)
Other research and development programs | (33,322) | (26,010) | (20,421)
Research and development personnel expenses | (102,677) | (70,772) | (53,446)
Research and development stock-based compensation | (50,344) | (40,667) | (22,633)
Other research and development | (29,247) | (26,954) | (12,137)
Total research and development expenses | (332,058) | (240,156) | (168,527)
Total other income, net | 51,632 | 40,916 | 13,277
Income tax expense | (180) | 0 | 0
Loss on equity method investment | 0 | (470) | (5,198)
Net loss | (465,317) | (298,408) | (214,529)
Reportable Segment | Product revenue, net |  |  |
Segment Reporting Information [Line Items] |  |  |
Revenue: | 5,420 | 0 | 0
Reportable Segment | Collaboration and license revenue |  |  |
Segment Reporting Information [Line Items] |  |  |
Revenue: | $ 2,276 | $ 1,039 | $ 4,013

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