Segments of Business (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment

The table below is a summary of the segment net loss, including significant segment expenses (in millions):


	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
Total revenues	$	258	$	117	$	112
Less:
Late-stage development programs (1)	252		168		124
Early-stage development and preclinical programs (2)	132		128		145
Compensation and personnel costs	250		223		189
Depreciation and amortization	10		8		6
Impairment of long-lived assets	20		—		—
Interest income, net	(48)		(39)		(13)
Income tax expense	1		6		1
Other segment items (3)	89		92		89
Partnership reimbursements	(165)		(162)		(162)
Segment net loss and Consolidated net loss	$	(283)	$	(307)	$	(267)

(1) R&D expenses incurred related to a Phase 3 clinical program intended to result in registration of a new product. This includes all unallocated program-level expense not directly attributable to a specific clinical trial once a molecule enters into one or more Phase 3 clinical trials.

(2) R&D expenses incurred for activities ranging from early-stage R&D and preclinical to Phase 2 clinical trials. This includes all unallocated program-level expense not directly attributable to a specific clinical trial unless the related program has entered into one or more Phase 3 clinical trials.

(3) Other segment items includes non-allocated program costs and other G&A costs.