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

4. Segment Information

The Company operates in a single segment, which is the development and commercialization of human therapeutics. The Company has determined that its chief executive officer is the Chief Operating Decision Maker (“CODM”). When evaluating the Company’s financial performance, the CODM reviews total revenues and total expenses and makes financial decisions using this information on a consolidated net income (loss) basis. The measure of segment assets is the Company’s total assets which is reported on the condensed consolidated balance sheets. The Company’s segment revenue and long-lived assets are primarily generated and maintained in the US.

The following table summarizes significant segment expenses:

Three Months Ended March 31, 

(In thousands)

  

2025

  

2024

Total revenue

$

15,388

$

14,503

Employee-related (Research and development) 1

3,931

3,305

External-related (Research and development)

 

5,565

 

3,377

Facilities and other allocated expenses (Research and development)

 

886

 

821

Supporting general and administration functions 1

7,258

6,921

Sales and marketing, and medical affairs 1

7,305

6,057

Share-based compensation

 

4,877

 

5,229

Total operating expenses

29,822

25,710

Loss from operations

(14,434)

(11,207)

Interest expense (non-cash)

(643)

(629)

Interest and other income, net

939

1,434

Provision for income tax benefit (expense)

559

(1,262)

Net loss

$

(13,579)

$

(11,664)

1 Excludes share-based compensation