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v3.25.1

Segment Disclosure (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Summary of Significant Expense related to the Life Science Segment | The table below summarizes segment net loss, including significant expenses for the three months ended March 31, 2025 and 2024 (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Royalty revenue and sale of royalty rights |  | $ | — |  |  | $ | 16,146 |
Costs and operating expenses |  |  |  |  |  |
Cost of revenues |  |  | — |  |  |  | 475 |
Research and development |  |  |  |  |  |
Clinical product candidates |  |  | 5,146 |  |  |  | 3,974 |
Clinical product manufacturing |  |  | 3,384 |  |  |  | 2,563 |
Personnel-related expenses excluding stock-based compensation |  |  | 4,739 |  |  |  | 3,504 |
Stock-based compensation |  |  | 1,122 |  |  |  | 678 |
Depreciation and amortization |  |  | 473 |  |  |  | 315 |
Other (i) |  |  | 2,180 |  |  |  | 1,995 |
Total research and development expenses |  |  | 17,044 |  |  |  | 13,029 |
General and administrative |  |  |  |  |  |
Personnel-related expenses excluding stock-based compensation |  |  | 1,491 |  |  |  | 1,918 |
Stock-based compensation |  |  | 2,509 |  |  |  | 3,643 |
Professional and consultant fees |  |  | 814 |  |  |  | 1,080 |
Other (ii) |  |  | 1,056 |  |  |  | 1,606 |
Total general and administrative expenses |  |  | 5,870 |  |  |  | 8,247 |
Total costs and operating expenses |  |  | 22,914 |  |  |  | 21,751 |
Other segment income (iii) |  |  | 1,756 |  |  |  | 2,349 |
Segment net loss |  | $ | (21,158 | ) |  | $ | (3,256 | )
Reconciliation of profit or loss |  |  |  |  |  |
Adjustments and reconciling items |  |  | — |  |  |  | — |
Consolidated net loss |  | $ | (21,158 | ) |  | $ | (3,256 | )
(i) Other research and development segment items include facilities expenses, lab services, professional services and technology costs. (ii) Other general and administrative segment items include facilities expenses, technology costs, insurance and depreciation. (iii) Other segment income for the three months ended March 31, 2025 and 2024 consisted of $1.2 million and $1.6 million of interest and investment income and $0.5 million and $0.8 million of sublease income, respectively.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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