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SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents segment revenue and significant segment expenses (in thousands) for the years ended December 31, 2025 and 2024:

			YEAR ENDED DECEMBER 31,
			2025						2024
REVENUE:
Total segment revenue			$	244,061					$	3,550
LESS:
Rinvatercept program expenses			(7,081)						(16,090)
Elritercept program expenses			(38,030)						(44,319)
Cibotercept program expenses			(12,562)						(29,777)
Preclinical & development expenses			(6,847)						(12,008)
Compensation costs (excluding stock based compensation)			(45,331)						(48,084)
Other external costs			(35,095)						(26,708)
Other segment items3			(12,101)						(13,917)
Net income (loss)			$	87,014					$	(187,353)

X

- 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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X

- References

No definition available.

+ Details

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