| Segment Information |
11. Segment InformationThe Company has one reportable segment related to developing next-generation, potentially curative CAR T-cell therapies for cancer patients. The Company’s chief operating decision maker (“CODM”) is its Interim Chief Executive Officer. When evaluating the Company’s financial performance and making strategic decisions, the CODM focuses his review on the comparison of budget versus actual expenses incurred by function. The Company conducts operations solely within the United States and as such, all long-lived assets are located within the United States. The table below is a summary of the segment profit or loss, including significant segment expenses:
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Three months ended
June 30, |
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Six months ended
June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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(in thousands) |
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Research and Development |
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Manufacturing and technical operations |
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$ |
242 |
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$ |
17,084 |
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$ |
9,263 |
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$ |
30,795 |
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Clinical |
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683 |
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5,854 |
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7,180 |
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9,980 |
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Preclinical |
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210 |
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256 |
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1,140 |
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526 |
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Employee-related costs |
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3,429 |
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7,635 |
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11,513 |
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14,366 |
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Facilities and other operating costs |
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1,239 |
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4,420 |
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4,613 |
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7,937 |
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General and Administrative |
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Consultants and other outside services |
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1,877 |
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3,751 |
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4,519 |
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7,348 |
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Employee-related costs |
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880 |
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3,669 |
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4,044 |
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6,903 |
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Facilities and other operating costs |
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1,943 |
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1,735 |
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2,828 |
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2,898 |
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Restructuring, impairment, and costs of suspended
programs |
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37,098 |
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— |
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83,378 |
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— |
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Stock-based compensation expense |
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5,258 |
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4,302 |
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12,134 |
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8,206 |
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Depreciation expense |
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40 |
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612 |
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712 |
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1,165 |
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Total operating expense |
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52,899 |
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49,318 |
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141,324 |
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90,124 |
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Loss from operations |
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(52,899 |
) |
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(49,318 |
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(141,324 |
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(90,124 |
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Interest income |
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3,269 |
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4,987 |
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7,207 |
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9,992 |
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Other expense, net |
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(307 |
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(17 |
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(318 |
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(27 |
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Net loss |
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$ |
(49,937 |
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$ |
(44,348 |
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$ |
(134,435 |
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$ |
(80,159 |
) |
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