| Schedule of Company`S Segment, Including Segment Expenses, and A Reconciliation to Net Income (Loss) |
The table below includes information about the Company’s segment, including significant segment expenses, and a reconciliation to net income (loss):
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For the Three Months Ended
June 30, |
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For the Six Months Ended
June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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(in thousands) |
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Total revenues |
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$ |
611,091 |
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$ |
362,931 |
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$ |
1,355,947 |
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$ |
776,395 |
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Segment expenses and other segment items |
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Cost of sales (excluding amortization of in-licensed rights) |
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152,558 |
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44,545 |
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290,122 |
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95,104 |
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Compensation and other personnel expenses |
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89,839 |
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77,535 |
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182,923 |
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161,122 |
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Up-front and milestone expenses |
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— |
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— |
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583,787 |
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— |
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Manufacturing expenses |
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80,685 |
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50,659 |
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148,150 |
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120,359 |
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Clinical trial expenses |
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33,511 |
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39,861 |
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66,658 |
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84,008 |
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Facility- and technology-related expenses (excluding depreciation and amortization) |
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28,580 |
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26,651 |
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56,237 |
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51,629 |
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Research and development- other (excluding non-cash items) (a) |
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31,843 |
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27,646 |
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60,314 |
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56,494 |
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Selling, general and administrative- other (excluding non-cash items) (b) |
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56,322 |
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55,474 |
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107,464 |
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104,436 |
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Roche collaboration reimbursement |
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(25,689 |
) |
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(17,940 |
) |
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(54,170 |
) |
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(39,598 |
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Other segment items (c) |
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(1,314 |
) |
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(10,886 |
) |
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(3,223 |
) |
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(13,571 |
) |
(Gain) loss on strategic investments |
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(36,721 |
) |
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(148 |
) |
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54,007 |
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(1,079 |
) |
Interest expense |
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5,228 |
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4,832 |
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9,731 |
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8,998 |
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Interest income |
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(5,254 |
) |
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(8,076 |
) |
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(15,444 |
) |
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(15,169 |
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Income tax (benefit) expense |
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(43,254 |
) |
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7,117 |
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20,736 |
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12,446 |
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Depreciation and amortization expense |
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10,840 |
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8,719 |
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20,818 |
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17,463 |
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Stock-based compensation expense |
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37,025 |
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50,482 |
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78,453 |
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91,174 |
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Segment net income (loss) |
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$ |
196,892 |
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$ |
6,460 |
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$ |
(250,616 |
) |
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$ |
42,579 |
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Reconciliation of profit or loss |
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Adjustments and reconciling items |
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— |
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— |
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— |
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— |
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Consolidated net income (loss) |
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$ |
196,892 |
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$ |
6,460 |
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$ |
(250,616 |
) |
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$ |
42,579 |
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(a) Research and development-other includes professional services, pre-clinical expenses and research and other expenses. (b) Selling, general and administrative-other includes professional services and other expenses. (c) Other segment items included in segment net income (loss) include accretion of investment discount, net, change in fair value of derivatives and other, net, as well as the items separately presented and not defined as significant expenses below.
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