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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Revenue, Loss and Significant Expenses

The following table is a summary of segment revenue, income (loss) and our significant expenses (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Collaboration revenue			$	76,320					$	30,017					$	126,354					$	48,167
Operating expenses:
External R&D
Rosnilimab			7,070						14,188						37,709						37,161
ANB033			7,519						1,631						15,248						7,276
ANB101			1,784						687						5,305						1,631
ANB032			(362)						7,239						3,282						20,381
Imsidolimab			(1,204)						2,389						(2,360)						8,752
Preclinical and other unallocated costs			3,813						3,917						12,201						11,254
Total External R&D(1)			18,620						30,051						71,385						86,455
Total Internal R&D(2)			12,787						12,161						39,026						34,796
Total R&D			31,407						42,212						110,411						121,251
External G&A(3)			2,247						2,529						10,223						6,980
Internal G&A(2)			7,962						8,033						24,725						25,215
Total G&A			10,209						10,562						34,948						32,195
Total operating expenses			41,616						52,774						145,359						153,446
Net income (loss) from operations			34,704						(22,757)						(19,005)						(105,279)
Interest income			2,924						5,324						10,991						14,531
Non-cash interest expense			(22,515)						(15,413)						(60,182)						(32,683)
Other income (expense), net			—						(5)						5,433						(7)
Total other expense, net			(19,591)						(10,094)						(43,758)						(18,159)
Income (loss) before income taxes			15,113						(32,851)						(62,763)						(123,438)
Provision for income taxes			—						—						(83)						(9)
Segment net income (loss)			$	15,113					$	(32,851)					$	(62,846)					$	(123,447)

(1)     External R&D consists of costs associated with our research and development activities, including drug discovery efforts, preclinical and clinical development of our programs, manufacturing, and allocated facility-related costs.

(2)     Internal R&D and G&A consist of salaries and wages, stock-based compensation, recruiting and other employee benefits.

(3)     External G&A consists of general and administrative expenses including transaction costs, legal services, insurance, professional fees for auditing, tax, and market research, and allocated facility-related costs not otherwise included in research and development expenses.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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