| Segments |
9. Segments The Company operates the business on the basis of three reporting segments: therapeutic market (“ISCO”); biomedical market (“LCT”); and anti-aging market (“LSC”). The Company does not measure the performance of its segments on any asset-based metrics. Therefore, segment information is presented only for the results of operations. Results of operations for the three and six months ended June 30, 2025 and 2024 by reporting segment were as follows (in thousands):
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Three Months Ended June 30, 2025 |
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ISCO |
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LCT |
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LSC |
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Total |
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Product sales |
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$ |
— |
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$ |
2,303 |
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$ |
144 |
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$ |
2,447 |
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Operating expenses: |
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Cost of sales |
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— |
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|
928 |
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(1 |
) |
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|
927 |
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General and administrative |
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|
567 |
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213 |
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|
125 |
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|
905 |
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Selling and marketing |
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|
— |
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|
188 |
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|
98 |
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|
286 |
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Research and development |
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|
77 |
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|
74 |
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|
11 |
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|
162 |
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Total operating expenses |
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|
644 |
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1,403 |
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|
233 |
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|
2,280 |
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(Loss) income from operations |
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$ |
(644 |
) |
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$ |
900 |
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$ |
(89 |
) |
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$ |
167 |
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Total other expense, net |
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(38 |
) |
Net income |
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$ |
129 |
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Additional Segment Information |
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Interest expense (1) |
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$ |
(38 |
) |
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$ |
— |
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$ |
— |
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$ |
(38 |
) |
Depreciation and amortization |
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$ |
19 |
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$ |
35 |
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$ |
— |
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$ |
54 |
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Share-based compensation expense |
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$ |
40 |
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$ |
12 |
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$ |
9 |
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$ |
61 |
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(1) Includes interest expense and interest expense - related party. |
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Three Months Ended June 30, 2024 |
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ISCO |
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LCT |
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LSC |
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Total |
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Product sales |
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$ |
— |
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|
$ |
2,120 |
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$ |
211 |
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$ |
2,331 |
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Operating expenses: |
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|
|
|
|
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|
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Cost of sales |
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|
— |
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|
|
814 |
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|
99 |
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|
913 |
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General and administrative |
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|
550 |
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|
204 |
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|
130 |
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|
884 |
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Selling and marketing |
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— |
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|
179 |
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|
123 |
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|
302 |
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Research and development |
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|
8 |
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|
65 |
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|
10 |
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|
83 |
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Total operating expenses |
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|
558 |
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|
1,262 |
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|
362 |
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|
2,182 |
|
(Loss) income from operations |
|
$ |
(558 |
) |
|
$ |
858 |
|
|
$ |
(151 |
) |
|
$ |
149 |
|
Total other expense, net |
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(30 |
) |
Net income |
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$ |
119 |
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Additional Segment Information |
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Interest expense (1) |
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$ |
(35 |
) |
|
$ |
— |
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|
$ |
— |
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|
$ |
(35 |
) |
Depreciation and amortization |
|
$ |
20 |
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$ |
30 |
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|
$ |
— |
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|
$ |
50 |
|
Share-based compensation expense |
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$ |
82 |
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$ |
28 |
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$ |
19 |
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$ |
129 |
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(1) Includes interest expense and interest expense - related party. |
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Six Months Ended June 30, 2025 |
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ISCO |
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LCT |
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LSC |
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Total |
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Product sales |
|
$ |
— |
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|
$ |
4,298 |
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|
$ |
278 |
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$ |
4,576 |
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Operating expenses: |
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|
|
|
|
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Cost of sales |
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|
— |
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|
|
1,809 |
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|
110 |
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|
1,919 |
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General and administrative |
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|
1,121 |
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|
425 |
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|
251 |
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|
1,797 |
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Selling and marketing |
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|
— |
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|
364 |
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|
195 |
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|
559 |
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Research and development |
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|
195 |
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|
135 |
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|
19 |
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|
349 |
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Total operating expenses |
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|
1,316 |
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|
2,733 |
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|
575 |
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|
4,624 |
|
(Loss) income from operations |
|
$ |
(1,316 |
) |
|
$ |
1,565 |
|
|
$ |
(297 |
) |
|
$ |
(48 |
) |
Total other expense, net |
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|
|
|
|
|
(79 |
) |
Net loss |
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|
$ |
(127 |
) |
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Additional Segment Information |
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Interest expense (1) |
|
$ |
(79 |
) |
|
$ |
— |
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|
$ |
— |
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|
$ |
(79 |
) |
Depreciation and amortization |
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$ |
39 |
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$ |
69 |
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$ |
1 |
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$ |
109 |
|
Share-based compensation expense |
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$ |
102 |
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$ |
27 |
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$ |
32 |
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$ |
161 |
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(1) Includes interest expense and interest expense - related party. |
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Six Months Ended June 30, 2024 |
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|
ISCO |
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|
LCT |
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|
LSC |
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Total |
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Product sales |
|
$ |
— |
|
|
$ |
4,043 |
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|
$ |
417 |
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|
$ |
4,460 |
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Operating expenses: |
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|
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|
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Cost of sales |
|
|
— |
|
|
|
1,595 |
|
|
|
205 |
|
|
|
1,800 |
|
General and administrative |
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|
1,134 |
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|
396 |
|
|
|
263 |
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|
1,793 |
|
Selling and marketing |
|
|
— |
|
|
|
360 |
|
|
|
276 |
|
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|
636 |
|
Research and development |
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|
106 |
|
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|
134 |
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|
20 |
|
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|
260 |
|
Total operating expenses |
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|
1,240 |
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|
|
2,485 |
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|
764 |
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|
4,489 |
|
(Loss) income from operations |
|
$ |
(1,240 |
) |
|
$ |
1,558 |
|
|
$ |
(347 |
) |
|
$ |
(29 |
) |
Total other expense, net |
|
|
|
|
|
|
|
|
|
|
|
(66 |
) |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(95 |
) |
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|
|
|
|
|
|
|
|
|
|
|
|
Additional Segment Information |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense (1) |
|
$ |
(71 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(71 |
) |
Depreciation and amortization |
|
$ |
40 |
|
|
$ |
58 |
|
|
$ |
1 |
|
|
$ |
99 |
|
Share-based compensation expense |
|
$ |
170 |
|
|
$ |
57 |
|
|
$ |
39 |
|
|
$ |
266 |
|
|
|
|
|
|
|
|
|
|
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|
(1) Includes interest expense and interest expense - related party. |
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