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Segment Disclosures | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Segment Disclosures | 12. 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 (loss) 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 6, the CODM reviews the following significant expenses in making decisions about the allocation of resources and assessing performance (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | (in thousands) |  |  | (in thousands) |
Total revenue |  | $ | 1,418 |  |  | $ | 18,658 |  |  | $ | 11,677 |  |  | $ | 69,575 |
External costs incurred by product candidate (target): |  |  |  |  |  |  |  |  |  |  |  |
Varseta-M (EpCAM) |  |  | 6,225 |  |  |  | 3,679 |  |  |  | 14,039 |  |  |  | 7,949 |
CX-801 (IFNα2b) |  |  | 437 |  |  |  | 452 |  |  |  | 781 |  |  |  | 940 |
CX-904 (EGFRxCD3) |  |  | 227 |  |  |  | (550 | ) |  |  | 468 |  |  |  | 561 |
Other wholly owned and partnered programs |  |  | 272 |  |  |  | 498 |  |  |  | 415 |  |  |  | 894 |
General research and development expenses |  |  | 1,925 |  |  |  | 1,520 |  |  |  | 4,808 |  |  |  | 4,050 |
Total external costs |  |  | 9,086 |  |  |  | 5,599 |  |  |  | 20,511 |  |  |  | 14,394 |
Internal costs |  |  | 8,512 |  |  |  | 7,723 |  |  |  | 16,325 |  |  |  | 17,795 |
Research and development expenses |  |  | 17,598 |  |  |  | 13,322 |  |  |  | 36,836 |  |  |  | 32,189 |
General and administrative expenses |  |  | 7,601 |  |  |  | 6,622 |  |  |  | 18,294 |  |  |  | 16,050 |
Total operating expenses |  |  | 25,199 |  |  |  | 19,944 |  |  |  | 55,130 |  |  |  | 48,239 |
Income (loss) from operations |  |  | (23,781 | ) |  |  | (1,286 | ) |  |  | (43,453 | ) |  |  | 21,336 |
Interest income |  |  | 3,157 |  |  |  | 1,178 |  |  |  | 4,647 |  |  |  | 2,133 |
Other income |  |  | 18 |  |  |  | 17 |  |  |  | 11 |  |  |  | 28 |
Income (loss) before income taxes |  |  | (20,606 | ) |  |  | (91 | ) |  |  | (38,795 | ) |  |  | 23,497 |
Provision for income taxes |  |  | 60 |  |  |  | 63 |  |  |  | 119 |  |  |  | 126 |
Net income (loss) |  | $ | (20,666 | ) |  | $ | (154 | ) |  | $ | (38,914 | ) |  | $ | 23,371 |

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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