| Summary of the segment profit or loss |
The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Six months ended |
|
June 30, |
|
June 30, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
Revenue |
$ |
13,677 |
|
$ |
128,231 |
|
$ |
20,962 |
|
$ |
133,909 |
Less: |
|
|
|
|
|
|
|
|
|
|
|
Cost of goods sold |
|
(2,501) |
|
|
— |
|
|
(3,380) |
|
|
0 |
Research |
|
488 |
|
|
(3,830) |
|
|
(1,620) |
|
|
(7,438) |
CMC and Quality |
|
(10,510) |
|
|
(14,159) |
|
|
(22,595) |
|
|
(28,933) |
Biomarkers |
|
(1,505) |
|
|
(2,495) |
|
|
(2,727) |
|
|
(5,286) |
Development and Compliance |
|
(9,552) |
|
|
(12,611) |
|
|
(20,102) |
|
|
(27,486) |
Infrastructure management and Facilities |
|
(6,977) |
|
|
(7,749) |
|
|
(14,316) |
|
|
(15,828) |
Commercial and Commercial planning |
|
(3,946) |
|
|
(2,561) |
|
|
(8,344) |
|
|
(6,445) |
Support and corporate functions |
|
(10,172) |
|
|
(9,139) |
|
|
(22,811) |
|
|
(21,073) |
Other segment income/(expenses), net(a) |
|
710 |
|
|
(6,987) |
|
|
(1,088) |
|
|
(1,981) |
Total operating expenses |
|
(43,965) |
|
|
(59,531) |
|
|
(96,983) |
|
|
(114,470) |
Operating (loss)/profit |
|
(30,288) |
|
|
68,700 |
|
|
(76,021) |
|
|
19,439 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
233 |
|
|
1,376 |
|
|
1,143 |
|
|
2,721 |
Interest expense |
|
(962) |
|
|
(526) |
|
|
(2,843) |
|
|
(526) |
Other income (expense), net |
|
1,289 |
|
|
497 |
|
|
984 |
|
|
436 |
Income tax expense |
|
(612) |
|
|
(526) |
|
|
(1,187) |
|
|
(1,052) |
Segment and consolidated net (loss)/profit |
$ |
(30,340) |
|
$ |
69,521 |
|
$ |
(77,924) |
|
$ |
21,018 |
(a)Other segment income/(expenses) for the six months ended June 30, 2025 includes reimbursements receivable for research and development tax and expenditure credits of $3,901,000 (2024: $5,879,000), depreciation of $4,620,000 (2024: $5,457,000), amortization of $355,000 (2024: $115,000) and share-based compensation expenses (see Note 11).
The main measure of assets reviewed by the CODM is the Company’s cash and cash equivalents and marketable securities. Total cash outflows relating to additions to long-lived assets have been disclosed in the Consolidated Statements of Cash Flows as cash outflows from investing activities.
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