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Segment Reporting | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting We operate in one operating segment that is focused on the discovery, development, and commercialization of innovative vaccines. Our Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The following table presents segment revenue, measures of our segment’s profit or loss, and significant segment expenses (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Total revenues | $ | 95,442 |  |  | $ | 73,795 |  |  | $ | 163,606 |  |  | $ | 124,584 |
Less (add) (1): |  |  |  |  |  |  |
Cost of sales - product | 14,035 |  |  | 11,985 |  |  | 27,804 |  |  | 22,952 |
Research and development | 16,619 |  |  | 14,950 |  |  | 35,996 |  |  | 28,478 |
Selling and marketing | 23,838 |  |  | 24,359 |  |  | 48,408 |  |  | 49,799 |
General and administrative | 26,521 |  |  | 17,303 |  |  | 49,629 |  |  | 35,928 |
Other segment items (2) | (4,292) |  |  | (6,188) |  |  | 79,147 |  |  | (15,238) |
Segment income (loss) (3) | $ | 18,721 |  |  | $ | 11,386 |  |  | $ | (77,378) |  |  | $ | 2,665 |
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (2)Other segment items includes the net of: bad debt expense, interest income, interest expense, sublease income, loss on debt extinguishment, other expenses, and provision for income taxes, as presented on the face of our condensed consolidated statements of operations. (3)Net income (loss) is our reported measure of segment profit or loss.

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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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