v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has one operating and reportable segment relating to the research, development and commercialization of its novel gene therapies. The segment derives its current revenue from a co-development and commercialization agreement with CanSinoBIO. The Company does not track expenses on an individual program basis for overhead costs, as the Company utilizes its resources across all programs.

The Company's Chief Operating Decision Maker (the "CODM"), its Chief Executive Officer, manages the Company's operations on an integrated basis for the purposes of allocating resources. When evaluating the Company's financial performance, the CODM reviews financial information at the consolidated level. The CODM uses net loss as the measure of profit or loss to allocate resources and assess performance. The CODM regularly reviews net loss as reported on the Company’s consolidated statements of operations and comprehensive loss. Financial forecasts and budget to actual results used by the
CODM to assess performance and allocate resources, as well as those used for strategic decisions related to headcount and capital expenditures are also reviewed on a consolidated basis.
The measure of segment assets is reported on the balance sheet as total assets.
The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
Three Months Ended June 30,
Six Months Ended June 30,
2025202420252024
Collaborative arrangement revenue$1,373 $1,141 $2,854 $2,155 
Less:
OCU4001,998 2,180 3,843 3,699 
OCU410 and OCU410ST1,117 1,197 2,295 1,681 
NeoCart8 28 5 355 
COVAXIN— 56 — 73 
Inhaled mucosal vaccine platform131 807 319 1,496 
OCU200151 92 400 277 
Unallocated costs:
Research and development personnel costs4,091 3,164 8,106 5,844 
Facilities and other support costs834 879 1,815 1,377 
Other72 499 1,149 926 
Total research and development8,402 8,902 17,932 15,728 
General and administrative6,766 7,688 13,218 14,092 
Total operating expenses15,168 16,590 31,150 29,820 
Loss from operations(13,795)(15,449)(28,296)(27,665)
Interest (expense) income, net(1,058)173 (1,972)475 
Other income (expense), net114 (4)179 (14)
Segment and consolidated net loss$(14,739)$(15,280)$(30,089)$(27,204)