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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure Segment Reporting
The Company identifies its reportable segments based on information reviewed by the Company’s Chief Operating Decision Maker (CODM). The Company operates as one operating and reportable segment, which is discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer. The Company has determined its reportable operating segment based on the management approach, which considers the internal organization and reporting used by the Company’s CODM to make decisions about allocating resources and assessing the Company’s performance. The determination of a single business segment is consistent with the consolidated financial information regularly reviewed by the CODM for purposes of assessing performance and allocating resources.
The CODM uses consolidated net loss, consistent with the amounts reported in the Company’s consolidated statements of operations to evaluate performance, forecast future period financial results and allocate resources. Please refer to the consolidated balance sheets and the accompanying notes to the consolidated financial statements for segment asset information.
The table below summarizes the significant expenses regularly reviewed by the CODM (in thousands):
Three Months Ended March 31,
20252024
Total revenue (a)$13,192 $9,104 
Cost of product sales— 270 
Cost of manufacturing services5,400 1,846 
Research and development expenses:
Lorigerlimab8,877 9,616 
Vobramitamab duocarmazine8,267 9,668 
MGC0265,953 3,956 
MGC0283,934 6,204 
MGC0302,506 1,636 
Next-generation T-cell engagers2,273 2,489 
MGD0242,192 2,786 
Preclinical antibody-drug conjugates (ADCs)1,799 2,962 
Margetuximab319 3,123 
Other programs3,578 3,589 
Total research and development expenses39,698 46,029 
Selling, general and administrative expenses10,718 14,709 
Other segment income, net (b)1,588 1,560 
Net loss$(41,036)$(52,190)
(a) Total revenue includes collaborative and other agreements, product sales, net, contract manufacturing, and government agreements.
(b) Other segment income, net includes interest and other income and other expense.

The Company operates in the United States and all material long-lived assets of the Company reside in the United States. For information about the Company’s revenues, see Note 6, Revenue.