| Segment Reporting |
The table below details the Company’s revenues and expenses and reconciles those amounts to the Company’s consolidated net loss including noncontrolling interest as computed under U.S. GAAP in the consolidated statements of operations and comprehensive loss: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in thousands) | | Revenues: | | | | | | | | | License | $ | — | | | $ | — | | | $ | 100 | | | $ | — | | | Milestone | 10,000 | | | 25,000 | | | 10,000 | | | 39,500 | | | Royalties | 41,221 | | | 18,608 | | | 45,637 | | | 36,840 | | | Total revenues | 51,221 | | | 43,608 | | | 55,737 | | | 76,340 | | Less: | | | | | | | | | Research and development: | | | | | | | | | XmAb942 (Xtend TL1A) | (14,395) | | | (2,963) | | | (21,806) | | | (5,365) | | | XmAb819 (ENPP3 x CD3) | (8,090) | | | (6,338) | | | (16,946) | | | (11,148) | | | XmAb412 (TL1A x IL-23p19) | (2,918) | | | (1,275) | | | (10,056) | | | (1,275) | | | XmAb541 (CLDN6 x CD3) | (5,230) | | | (2,834) | | | (8,526) | | | (4,975) | | | XmAb657 (CD19 x CD3) | (1,544) | | | (5,778) | | | (2,413) | | | (10,177) | | | Plamotamab (CD20 x CD3) | (712) | | | (2,095) | | | (1,029) | | | (3,641) | | | XmAb808 (B7-H3 x CD28) | (199) | | | (1,679) | | | 347 | | | (3,875) | | | Other programs including research and early stage | (8,930) | | | (5,509) | | | (14,016) | | | (7,601) | | | Wind down costs of terminated programs | (470) | | | (3,113) | | | (1,615) | | | (10,768) | | | Internal research and development expenses | (24,737) | | | (23,686) | | | (50,756) | | | (47,741) | | | Research and development stock based compensation | (4,680) | | | (6,395) | | | (9,758) | | | (13,677) | | | General and administrative | (16,384) | | | (15,115) | | | (34,093) | | | (32,452) | | Other income (expense), net (1) | 15,149 | | | 2,097 | | | (35,625) | | | (2,985) | | | Income tax benefit (expense) | 190 | | | 250 | | | (90) | | | (117) | | | Net loss including noncontrolling interest | $ | (21,729) | | | $ | (30,825) | | | $ | (150,645) | | | $ | (79,457) | |
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