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Segment Reporting
 9 Months Ended
Sep. 30, 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 developing 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 September 30,Nine Months Ended September 30,
2025202420252024
Total revenue (a)$72,839 $110,708 $108,273 $130,609 
Cost of product sales— 168 — 614 
Cost of manufacturing services11,589 1,702 25,894 6,195 
Research and development expenses:
Lorigerlimab7,763 6,268 27,188 26,897 
MGC0307,045 4,000 15,217 8,900 
MGC0283,443 4,280 12,118 20,158 
Vobramitamab duocarmazine3,316 10,514 15,969 32,221 
Next-generation T-cell engagers3,104 1,994 8,894 6,575 
MGC0263,028 3,010 11,942 10,865 
MGD0242,125 2,341 7,032 7,285 
Preclinical antibody-drug conjugates (ADCs)862 1,541 4,718 5,918 
Margetuximab— 2,089 650 8,077 
Other programs2,023 4,506 9,470 11,408 
Total research and development expenses32,709 40,543 113,198 138,304 
Selling, general and administrative expenses9,905 14,104 29,925 43,237 
Other segment income (loss), net (b)(1,814)2,118 279 6,196 
Net income (loss)$16,822 $56,309 $(60,465)$(51,545)
(a) Total revenue includes collaborative and other agreements, product sales, net, contract manufacturing, and government agreements.
(b) Other segment income (loss), net includes interest and other income and interest 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 7. Revenue.