| Schedule of reportable segment net income (loss) |
The Company's reportable segment net income (loss) for the years ended December 31, 2025, 2024 and 2023, consisted of the following (in thousands):
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Grant revenue |
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$ |
789 |
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$ |
— |
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$ |
— |
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Significant segment expenses: |
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Live biotherapeutics platform |
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$ |
23,573 |
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$ |
29,006 |
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$ |
43,342 |
|
SER-155 |
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3,687 |
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6,804 |
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7,759 |
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R&D personnel-related (including stock-based compensation) |
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21,553 |
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28,689 |
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65,251 |
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G&A personnel-related (including stock-based compensation) |
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14,413 |
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22,679 |
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36,069 |
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Professional fees |
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8,991 |
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9,805 |
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18,784 |
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Facility-related and other |
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15,752 |
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20,699 |
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22,647 |
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Gain on sale of VOWST Business |
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(80,685 |
) |
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(5,684 |
) |
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- |
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Other segment (income) expense (1) |
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(12,191 |
) |
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13,773 |
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(3,722 |
) |
Net income (loss) from continuing operations |
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5,696 |
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(125,771 |
) |
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(190,130 |
) |
Net income from discontinued operations, net of tax (2) |
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— |
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125,907 |
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76,406 |
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Net income (loss) |
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$ |
5,696 |
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$ |
136 |
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$ |
(113,724 |
) |
[1] Other segment (income) expense includes manufacturing services expenses, research and development expenses on early stage programs, interest income and other (income) expense, net. [2] See Note 3, Discontinued Operations and TSA, for further details.
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