v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information

11. Segment Information

The Company has identified one operating and reportable segment. The Company defines its operating segments based on internally reported financial information that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) to analyze financial performance, make decisions, and allocate resources. The Company’s Chief Executive Officer is the CODM.

The Company’s CODM views specific categories within research and development expenses and selling, general and administrative expenses in total as significant given the direct correlation between cash burn and profitability as a pre-commercial company. The following table reconciles reported operating expenses to net loss under the significant expense principle for the three months ended March 31, 2026 and 2025:

 

Three months ended March 31,

 

(in thousands)

 

2026

 

 

2025

 

Operating expenses

 

 

 

 

 

 

Research and development:

 

 

 

 

 

 

Revita direct program expenses

 

$

4,965

 

 

$

6,754

 

Rejuva direct program expenses

 

 

1,903

 

 

 

3,217

 

Indirect expenses

 

 

1,891

 

 

 

2,013

 

Personnel-related expenses

 

 

6,839

 

 

 

7,451

 

Total research and development expenses

 

 

15,598

 

 

 

19,435

 

Selling, general and administrative

 

 

5,222

 

 

 

5,324

 

Total operating expenses

 

 

20,820

 

 

 

24,759

 

Other income, net

 

 

30,038

 

 

 

1,024

 

Segment net income (loss)

 

$

9,218

 

 

$

(23,735

)