v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

9. Segment Reporting

Operating segments are defined as components of the entity for which separate financial information is made available and that is regularly evaluated by the chief operating decision maker (CODM) in making decisions regarding resource allocation and assessing performance. The Company's CODM is its chief executive officer and the Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company is focused on the development of TCR-T therapies for the treatment of patients with cancer.

The CODM assesses the Company's performance by reviewing GAAP net loss and significant expenses by function along with the annual budget. The chief operating decision maker considers budget-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources.

The following table provides information about the Company's single operating segment which includes significant expenses by function along with significant non-cash expense items.

 

 

Three Months Ended
March 31,

 

 

2025

 

 

2024

 

Revenue:

 

 

 

 

 

Collaboration and license revenue

$

2,171

 

 

$

566

 

Operating expenses:

 

 

 

 

 

Research and development:

 

 

 

 

 

Laboratory supplies, research materials and studies

 

9,489

 

 

 

7,276

 

Personnel expenses

 

8,816

 

 

 

7,707

 

Facility-related and other

 

5,548

 

 

 

3,901

 

Clinical studies

 

3,695

 

 

 

3,833

 

Stock-based compensation

 

1,738

 

 

 

1,065

 

Depreciation expense

 

502

 

 

 

1,075

 

General and administrative:

 

 

 

 

 

Personnel expenses

 

3,019

 

 

 

2,668

 

Legal and professional fees

 

1,954

 

 

 

1,668

 

Facility-related and other

 

1,808

 

 

 

1,647

 

Stock-based compensation

 

1,676

 

 

 

919

 

Depreciation Expense

 

176

 

 

 

180

 

Loss from operations

 

(36,250

)

 

 

(31,373

)

Other (expense) income:

 

 

 

 

 

Interest and other income, net

 

2,802

 

 

 

2,190

 

Interest expense

 

(679

)

 

 

(959

)

Net loss

$

(34,127

)

 

$

(30,142

)