v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company manages its business activities on a consolidated basis and has one reportable segment relating to the research and development of its novel therapies. The Chief Executive Officer, who serves as the Company’s chief operating decision maker (“CODM”), is responsible for the overall supervision, direction, and management of the business and its officers.
The CODM reviews net loss, as reported in the condensed consolidated statements of operations and comprehensive loss, as well as the progress of the Company’s program(s). The CODM does not review assets in evaluating the results of the segment, and therefore, such information is not presented. The accounting policies of the segment are the same as those described in Note 2.
The following table is a summary of the segment loss, including significant segment expenses for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
In-process research and development$10,000 $— $10,000 $— 
AXN-2510/IMM25106,597 — 11,312 — 
Other program expenses(1)(2)
146 2,689 802 9,692 
General and administrative(1)
6,145 9,964 14,756 21,647 
Restructuring and impairment charges540 508 16,622 4,783 
Depreciation12 974 510 1,968 
Interest income(1,044)(1,919)(2,219)(3,981)
Interest expense1,582 1,999 2,680 3,980 
Other (income) expense, net(2,584)702 (4,869)1,130 
Segment and consolidated net loss$21,394 $14,917 $49,594 $39,219 
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(1)    Depreciation expense is removed from both “General and administrative” and “Other program expense” and is disclosed separately.
(2)    Other program expenses consist of costs related to the Company’s past development of its CoStAR-TIL technology.