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Segment Information (Tables)
12 Months Ended
Dec. 31, 2024
Segment Information  
Schedule of financial data for reportable segments

The following table presents certain financial data for the Company’s reportable segments for the years ended December 31, 2024 and 2023 (in thousands):

December 31

2024

2023

Revenue

$

5,000

$

50,000

Less:

Direct research and development expenses:1

Obexelimab

94,563

25,446

Other programs (ZB002 & ZB004)

2,115

6,242

Partnered regional programs (ZB001 & ZB005)

6,737

6,738

Unallocated research and development2

31,658

20,008

General and administrative3

22,995

15,218

Stock-based compensation

10,821

3,495

Other segment items4

(6,901)

9,977

Segment Net Loss

$

(156,988)

$

(37,124)

1 Direct research and development expenses primarily consist of direct costs incurred to specific programs research and development activities, including costs to conduct clinical trials and to manufacture clinical drug supply.

2 Unallocated research and development expenses primarily consist of indirect costs incurred in support of overall research and development activities and non-specific programs, including activities that benefit multiple programs, such as personnel costs for employees involved in research and development activities, excluding stock-based compensation, as well as contract services not allocated to specific programs.

3General and administrative expenses primarily consist of all other personnel costs, excluding stock-based compensation, professional fees, depreciation expense, as well as facilities expenses.

4 Other segment items consist of acquired in-process research and development, fair value adjustments to convertible notes, other income, net and income tax provision. Other income, net consists of interest income and realized and unrealized gains and losses on foreign currency transactions.