v3.25.2
Segment Information
6 Months Ended
Jun. 30, 2025
Segment Information  
Segment Information

14. 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 and six months ended June 30, 2025 and 2024:

Three Months Ended June 30, 

Six Months Ended June 30, 

2025

2024

2025

2024

Revenues:

Product sales, net

$

6,517

$

$

6,517

$

Service revenue, net

2,320

3,659

5,440

6,631

Total revenue

8,837

3,659

11,957

6,631

Cost of product sales

205

205

Cost of service revenue

1,292

1,493

2,809

2,960

Program expenses (1)

YUTREPIA

14,661

4,392

24,419

11,022

L606

2,793

1,657

6,061

3,235

Generic Treprostinil

125

241

276

444

Total program expenses

17,579

6,290

30,756

14,701

Non-program expenses (2)

 

5,835

 

7,735

 

9,605

 

14,085

Personnel, including stock-based compensation

21,431

15,338

41,512

30,883

Loss from operations

 

(37,505)

 

(27,197)

 

(72,930)

 

(55,998)

Other income (expense), net

 

(4,074)

 

(1,471)

 

(7,016)

 

(2,753)

Net loss

$

(41,579)

$

(28,668)

$

(79,946)

$

(58,751)

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