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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | Note 11: Segment Information We regularly review our operating segments and the approach used by management to evaluate performance and allocate resources. In 2024, we managed our business as a single operating segment. The Company’s Chief Executive Officer is considered to be the Company’s chief operating decision maker under the requirements of Topic 280 of the ASC “Segments”. The primary measure of profit/loss reviewed by the chief operating decision maker (“CODM”) is net loss before noncontrolling interest. The Company does not have any product candidates approved for sale and has not generated any revenue from product sales. During 2024, the Company began recognizing lease revenue related to existing lease agreements held with certain third parties which leased space in the buildings which also house the Company’s manufacturing operations. We manage our assets on a total company basis, not by operating segment. Therefore, our chief operating decision maker does not regularly review any asset information other than total Company assets. See the Company’s Consolidated Balance Sheets for total assets. The majority of the Company’s long-lived assets are located in the United States. The following table provides selected income statement information for our single reportable segment (in thousands):
| December 31, 2024 |  |  | December 31, 2023 |  |  | December 31, 2022 |
Net loss before noncontrolling interest | $ | (163,335 | ) |  | $ | (135,447 | ) |  | $ | (148,135 | )
Rental income |  | 76 |  |  |  | – |  |  |  | – |
Depreciation and amortization |  | 4,337 |  |  |  | 2,956 |  |  |  | 2,448 |
Equity-based compensation |  | 29,372 |  |  |  | 30,846 |  |  |  | 74,469 |
Income tax (benefit) expense |  | (598 | ) |  |  | 5,996 |  |  |  | 896 |
Interest expense |  | 9 |  |  |  | 12 |  |  |  | 215 |
Interest income |  | 19,752 |  |  |  | 22,083 |  |  |  | 5,983 |
The following table provides significant expense categories that are regularly reported to the chief operating decision maker (in thousands):
| December 31, 2024 |  |  | December 31, 2023 |  |  | December 31, 2022 |
Revenue | $ | 76 |  |  | $ | – |  |  | $ | – |
Clinical expense |  | 50,235 |  |  |  | 42,513 |  |  |  | 24,963 |
Cash compensation |  | 48,025 |  |  |  | 31,374 |  |  |  | 16,409 |
Cash operating expenses |  | 45,459 |  |  |  | 49,431 |  |  |  | 49,360 |
Other segment items (1) |  | 19,692 |  |  |  | 12,129 |  |  |  | 57,403 |
Net loss before noncontrolling interest | $ | (163,335 | ) |  | $ | (135,447 | ) |  | $ | (148,135 | )
(1) Other segment items primarily include interest income, equity-based compensation, depreciation, and impairment charges.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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