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v3.26.1

Segment Information (Details) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2026 USD ($) | Jun. 30, 2025 USD ($) | Jun. 30, 2026 USD ($) segment | Jun. 30, 2025 USD ($)
Segment Reporting [Line Items] |  |  |  |
Number of operating segments | segment |  |  | 1 |
Number of reportable segments | segment |  |  | 1 |
Revenue: |  |  |  |
Total revenue | $ 3,604 | $ 0 | $ 3,604 | $ 0
Less: |  |  |  |
Cost of goods sold | 93 | 0 | 93 | 0
Total research and development expenses | 97,019 | 102,696 | 200,865 | 218,923
Total selling, general and administrative expenses | 36,283 | 32,267 | 69,794 | 61,620
Intangible asset amortization | 750 | 0 | 750 | 0
Total operating expenses | 134,145 | 134,963 | 271,502 | 280,543
Loss from operations | (130,541) | (134,963) | (267,898) | (280,543)
Segment interest and other income, net | 2,988 | 10,844 | 11,898 | 23,454
Therapeutics Segment |  |  |  |
Less: |  |  |  |
External research and development expenses - TV programs, including cost sharing | 40,419 | 37,594 | 78,883 | 84,052
Other research and development expenses, including small molecule programs | 16,494 | 24,847 | 40,048 | 54,347
Personnel related research and development expenses | 40,106 | 40,255 | 81,934 | 80,524
Total research and development expenses | 97,019 | 102,696 | 200,865 | 218,923
Personnel related selling, general and administrative expenses | 22,921 | 20,115 | 45,485 | 38,853
Other selling, general and administrative expenses | 13,362 | 12,152 | 24,309 | 22,767
Total selling, general and administrative expenses | 36,283 | 32,267 | 69,794 | 61,620
Total operating expenses | 134,145 | 134,963 | 271,502 | 280,543
Loss from operations | (130,541) | (134,963) | (267,898) | (280,543)
Segment interest and other income, net | 2,988 | 10,844 | 11,898 | 23,454
Loss before income taxes | $ (127,553) | $ (124,119) | $ (256,000) | $ (257,089)

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