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Income Statement · Annual · Millions · USD

Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	0	2	30	41	108	210	157	146	145	146
Research and development	87	107	161	122	151	161	149	139	143	126
Selling, general and administrative	–	25	49	105	126	144	145	132	115	105
Total operating expenses	111	132	210	230	280	308	299	276	265	237
Operating income	(111)	(131)	(180)	(189)	(172)	(98)	(142)	(130)	(119)	(91)
Interest expense	–	–	2	16	27	26	25	24	37	46
Interest and investment income	1	2	4	5	3	1	2	11	7	3
Other non-operating income (expense)	1	2	2	(10)	(24)	(26)	(23)	(13)	43	(105)
Income before taxes	(109)	(129)	(178)	(200)	(196)	(124)	(165)	(143)	(76)	(196)
Income tax expense	0	0	0	0	0	0	0	0	0	0
Net income from continuing operations	(110)	(129)	(178)	(200)	(196)	(124)	(165)	(143)	(76)	(196)
Net income	(110)	(129)	(178)	(200)	(196)	(124)	(165)	(143)	(76)	(196)
Net income to common shareholders	–	–	–	–	–	–	–	–	(118)	–