Segments and geographic information (Tables)

12 Months Ended

Dec. 31, 2024

Segments and geographic information

Schedule of company's single operating segment including significant segment expenses

The following table presents information about the Company’s single operating segment, including significant segment expenses, for the years ended December 31, 2024, 2023 and 2022 (in thousands):


		Year Ended
		December 31,
		2024			2023			2022
Collaboration revenue		$	35,275		$	26,976		$	14,463
Significant segment expenses:
Research and development:
Zelenectide pevedotin (Nectin-4)			82,705			44,135			11,054
BT5528 (EphA2)			9,119			9,195			10,702
BT1718 (MT1)			250			520			692
Bicycle tumor-targeted immune cell agonists			7,840			18,878			11,268
Discovery, platform and other expense			30,043			37,295			21,811
Employee and contractor related expenses			58,687			46,506			31,346
Share-based compensation			19,424			15,581			10,394
Facility expenses			8,105			8,845			5,155
Research and development incentives and government grants			(43,207)			(24,459)			(20,813)
Total research and development			172,966			156,496			81,609
General and administrative:
Personnel-related costs			23,500			18,985			13,948
Professional and consulting fees			20,258			14,814			9,836
Other general and administrative costs			9,047			9,137			8,783
Share-based compensation			18,657			16,896			16,385
Effect of foreign exchange rates			719			594			555
Total general and administrative			72,181			60,426			49,507
Total significant segment expenses			245,147			216,922			131,116
Other segment items⁽¹⁾			40,841			9,282			3,936
Segment net loss		$	(169,031)		$	(180,664)		$	(112,717)

(1)	Other segment items include interest and other income, interest expense, loss on extinguishment of debt, gain on extinguishment of research and development funding liability and (benefit from) provision for income taxes.

Schedule of long-lived assets, including operating lease right-of-use assets, held in different geographic regions

Information about the Company’s long-lived assets, including operating lease ROU assets, held in different geographic regions is presented in the table below (in thousands):


		December 31,
		2024			2023
United States		$	3,037		$	7,486
United Kingdom			14,152			20,198
		$	17,189		$	27,684