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Business Segments
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company operates and manages its business in a single reportable segment, which is the discovery, development and commercialization of next-generation multifunctional biotherapeutics (the “biotherapeutics segment”). The biotherapeutics segment revenue consists of collaboration revenue, including amounts recognized relating to upfront non-refundable payments for licenses or options to obtain future licenses, research and development funding, milestone payments and royalties earned under collaboration and license agreements and is managed on a consolidated basis. The accounting policies of the biotherapeutics segment are the same as those described in the summary of significant accounting policies.
The Company’s Chief Operating Decision Maker (“CODM”) is the Chair of the Board of Directors and Chief Executive Officer. The CODM assesses performance for the biotherapeutics segment and decides how to allocate resources to our development pipeline based on the results of our strategic planning, with segment (loss) income being used to monitor performance against the budgeted costs of that strategy. The measure of segment assets is reported on the balance sheet as total consolidated assets.
Revenue and net income for the Company’s biotherapeutics segment are shown below:
Three Months Ended March 31,
20252024
Revenue from research and development collaborations
$27,110 $10,030 
Segment expenses:
Zanidatamab1,403 3,388 
ZW1712,226 2,298 
ZW1911,706 2,726 
ZW2202,199 3,367 
ZW2513,951 607 
Zanidatamab zovodotin349 2,649 
Expense for other preclinical and research programs5,726 2,810 
Salaries and benefits13,840 13,348 
Other research and development expense4,848 3,741 
Other general and administrative expense7,475 8,283 
Total segment expenses
43,723 43,217 
Segment loss
(16,613)(33,187)
Reconciling items:
Depreciation and amortization(2,598)(1,763)
Stock-based compensation expense
(6,402)(3,552)
Change in contingent consideration
— 700 
Interest income3,424 5,920 
Other income, net
49 304 
Income tax expense
(496)(75)
Net loss
$(22,636)$(31,653)