v3.25.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Summary of Reported Segment Revenues, Segment Loss and Income, and Significant Segment Expenses

The following table presents information about reported segment revenues, segment loss and income, and significant segment expenses:

 

For the Year Ended December 31,

 

(in thousands)

2024

 

 

2023

 

 

2022

 

Revenues

 

$

152,310

 

 

$

166,799

 

 

$

205,999

 

Less:

 

 

 

 

 

 

 

 

Research and development:

 

 

 

 

 

 

 

 

 

LUNAR-COVID

 

 

70,464

 

 

 

81,262

 

 

 

65,136

 

LUNAR-OTC

 

 

9,509

 

 

 

9,315

 

 

 

8,898

 

BARDA

 

 

7,807

 

 

 

5,465

 

 

 

95

 

LUNAR-CF, net

 

 

17,227

 

 

 

14,666

 

 

 

6,931

 

Early-stage programs

 

 

16,096

 

 

 

12,460

 

 

 

9,681

 

Discovery technologies

 

 

6,278

 

 

 

6,405

 

 

 

6,082

 

Payroll and benefits

 

57,474

 

 

 

50,924

 

 

 

42,466

 

Facilities and equipment

 

 

10,301

 

 

 

11,636

 

 

 

8,462

 

Total research and development

 

 

195,156

 

 

 

192,133

 

 

 

147,751

 

General and administrative

 

 

52,823

 

 

 

52,871

 

 

 

46,071

 

Other (1)

 

 

(14,728

)

 

 

(48,480

)

 

 

2,828

 

Net (loss) income

$

(80,941

)

 

$

(29,725

)

 

$

9,349

 

 

(1) Primarily includes interest income and expense, foreign currency gains and losses, and income taxes. The year ended December 31, 2023 includes a $34.0 million gain on debt extinguishment related to forgiveness of the Singapore Loan.