Clinical Biotechnology

“22 Table of Contents Results of Operations The following table summarizes our results of operations (in millions): Three Months Ended March 31, Change 2026 2025 Revenues: License and development services $ 12 $ 20 (40) % Other collaboration 5 8 (38) % Total revenues 17 28 (39) % Operating expenses: Research and development 122 122 — % General and administrative 29 28 4 % Total operating expenses 151 150 1 % Loss from operations (134) (122) 10 % Non-operating income, net 6 10 (40) % Loss before income taxes (128) (112) 14 % Income tax expense — — * Net loss $ (128) $ (112) 14 % * Not meaningful Total Revenues The decrease in Total revenues for the three months ended March 31, 2026 was primarily driven by lower development services revenue from the Gilead Collaboration .”

RCUS 10-Q · 2026-05-05

“lds and a lower average balance for our investment portfolio; and higher interest expense on our long-term debt due to the additional drawdown under our agreement with Hercules at the end of the second quarter 2025.”

RCUS 10-Q · 2026-05-05

“Impairment of Long-Lived Assets The impairment expense for the nine months ended September 30, 2024 was due to our 2024 evaluation and sublease of a portion of our office space, resulting in an impairment charge of $20 million.”

RCUS 10-Q · 2025-10-28