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Segment Disclosures
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Disclosures

16. Segment Disclosures

The Company operates as a single operating segment. The Chief Executive Officer is identified as the Chief Operating Decision Maker (CODM). The CODM primarily reviews the Company’s financial information on an aggregate basis. The CODM utilizes the aggregated financial information to make strategic decisions, assess performance, and allocate resources across the Company. The aggregate information includes the revenue by collaboration partner, research and development expense by program, as well as net income that is reported on the Statements of Operations and Comprehensive Income (Loss). Net income (loss) is used to monitor budget versus actual results in assessing performance of the segment and in establishing management's compensation. The measure of segment assets is reported on the Balance Sheets as total assets. All of the Company’s long-lived assets are located in the United States. In addition to the revenue by collaborative partners disclosed in Note 8, the CODM reviews the following significant expenses in making decisions about the allocation of resources and assessing performance (in thousands):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Total revenue

 

$

138,103

 

 

$

101,214

 

External costs incurred by product candidate (target):

 

 

 

 

 

 

CX-904 (EGFRxCD3)

 

 

7,487

 

 

 

2,790

 

CX-2051 (EpCAM)

 

 

17,846

 

 

 

9,966

 

CX-801 (IFNα2b)

 

 

2,505

 

 

 

11,620

 

CX-2029 (CD71)

 

 

671

 

 

 

2,608

 

Other wholly owned and partnered programs

 

 

6,404

 

 

 

6,490

 

General research and development expenses

 

 

16,288

 

 

 

9,906

 

 Total external costs

 

 

51,201

 

 

 

43,380

 

 Internal costs

 

 

32,181

 

 

 

34,300

 

 Research and development expenses

 

 

83,382

 

 

 

77,680

 

General and administrative expenses

 

 

29,726

 

 

 

30,018

 

Income (loss) from operations

 

 

24,995

 

 

 

(6,484

)

Interest income

 

 

7,136

 

 

 

9,837

 

Other income (expense), net

 

 

(38

)

 

 

(30

)

Income/(loss) before income taxes

 

 

32,093

 

 

 

3,323

 

Provision for income taxes

 

 

224

 

 

 

3,892

 

Net income (loss)

 

$

31,869

 

 

$

(569

)