v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 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 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. All long-lived assets owned by the Company are located the United States. 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 years ended December 31, 2025 and 2024 (in thousands):
Year Ended December 31,
20252024
In-process research and development$10,000 $10,000 
AXN-2510/IMM251020,351 1,291 
Other program expenses(1) (2)
4,387 9,901 
General and administrative(1)
26,687 41,246 
Restructuring charges16,622 7,493 
Depreciation534 3,610 
Interest income(3,858)(6,987)
Interest expense5,829 8,992 
Other income, net(9,180)(1,411)
Segment net loss$71,372 $74,135 
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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.