v3.25.1
Segment Information
3 Months Ended
Mar. 31, 2025
Segment Information  
Segment Information

15. Segment Information

We operate as a single business segment focused on the development, manufacture, and commercialization of products that address unmet patient needs, with current focus directed towards rare cardiopulmonary diseases such as PAH and PH-ILD. The determination of a single business segment is consistent with the consolidated financial information

regularly reviewed by our Chief Executive Officer, the chief operating decision maker (“CODM”), in assessing segment performance and deciding how to allocate resources on a consolidated basis. The accounting policies of the segment are the same as those described in the summary of significant accounting policies.

The CODM measures segment profit and loss by net loss as reported in the consolidated income statements. The CODM uses net loss to monitor budget and forecast versus actual results to assess segment performance and to allocate resources across the organization. The measure of segment assets is reported on the consolidated balance sheet as total assets.

The following table summarizes segment revenue, segment loss, and significant segment expenses regularly reported to the CODM during the three months ended March 31, 2025 and 2024:

Three Months Ended March 31, 

2025

2024

Revenue

3,120

2,972

Cost of revenue

1,517

1,467

Program expenses (1)

YUTREPIA

9,758

6,630

L606

3,268

1,578

Generic Treprostinil

151

203

Total program expenses

13,177

8,411

Non-program expenses (2)

 

3,770

 

6,350

Personnel, including stock-based compensation

20,081

15,545

Loss from operations

 

(35,425)

 

(28,801)

Other income (expense), net

 

(2,942)

 

(1,282)

Net loss

 

(38,367)

 

(30,083)

(1)Includes external research and development and general and administrative expenses
(2)Includes professional service fees, facilities & infrastructure expenses, insurance, depreciation & amortization, and other corporate expenses