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Segment information | 3 Months Ended
--- | ---
Mar. 31, 2026
Segment Reporting [Abstract] |
Segment information | Segment information The Company operates in one operating segment: immunotherapies, which is focused on pioneering and delivering transformative immunomodulating medicines in the areas of cancer, infectious diseases and autoimmune diseases. The Company primarily generates revenue from one stream, revenue from the sale of therapies, which consists of sales of KIMMTRAK. H istorically, the Company had a second stream, collaboration revenue, which is no longer significant. The Company manages its business activities on a consolidated basis. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker ("CODM"), the Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The measure of the segment profit or loss used is consolidated net income (loss), and the measure of segment assets is reported on the condensed consolidated balance sheet as total assets. The accounting policies of the immunotherapies segment are the same as those described in Note 2. "Summary of significant accounting policies". The following table summarizes the reportable segment's financial information (in thousands):
| Three Months Ended March 31, |
| 2026 |  | 2025 |
Revenue | $ | 106,677 |  |  | $ | 93,881 |  |
Less: |  |  |  |
Cost of revenue from sale of therapies | (434) |  |  | (831) |  |
External research and development (R&D) expenses: |  |  |  |
PRAME programs | (21,214) |  |  | (17,305) |  |
Tebentafusp programs | (8,239) |  |  | (7,990) |  |
Infectious disease programs | (846) |  |  | (1,405) |  |
All other external clinical and preclinical costs | (8,493) |  |  | (11,231) |  |
Total external R&D expenses | (38,792) |  |  | (37,931) |  |
R&D salaries and other employee-related costs | (14,140) |  |  | (11,043) |  |
Selling, general and administrative (SG&A) salaries and other employee-related costs | (13,090) |  |  | (12,218) |  |
Other SG&A expenses | (21,065) |  |  | (20,672) |  |
Other segment (expense) income, net (a) | (6,185) |  |  | (6,163) |  |
Segment and consolidated net income | $ | 12,971 |  |  | $ | 5,023 |  |
(a) Other segment expenses, net includes other internal R&D expenses, share-based compensation expense, R&D tax credits, interest income, interest expense, foreign currency gains, other income, net and income tax expense.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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