Fourth quarter 2025 collaboration revenue increased significantly to 108249000, primarily driven by Jemperli sales milestones and higher royalties. The company reported net income of 49614000 compared to a net loss in the prior year period.
Collaboration revenue increased to 108249000 from 43113000 year-over-year.
Net income was 49614000 compared to a net loss of 21784000 in Q4 2024.
Research and development expenses declined to 25559000 from 42589000 year-over-year.
Cash and investments totaled 311638000 at year-end 2025.
The company plans to spin off its biopharma operations into First Tracks Biotherapeutics in Q2 2026 and expects the new entity to launch with adequate capital to fund operations through significant potential product milestones.
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