| Schedule of reportable segment net income (loss) |
The Company's reportable segment net income (loss) for the three and six months ended June 30, 2026 and 2025, consisted of the following (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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|
2025 |
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Grant revenue |
$ |
736 |
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|
$ |
— |
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|
$ |
1,094 |
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|
$ |
— |
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Significant segment expenses: |
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Live biotherapeutics platform |
$ |
4,875 |
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|
$ |
5,808 |
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|
$ |
11,408 |
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|
$ |
10,931 |
|
SER-155 |
|
99 |
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|
1,044 |
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|
746 |
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|
1,621 |
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R&D personnel-related (including stock-based compensation) |
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3,680 |
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|
6,084 |
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|
9,600 |
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|
12,202 |
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G&A personnel-related (including stock-based compensation) |
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2,671 |
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3,725 |
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5,962 |
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|
7,898 |
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Professional fees |
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1,442 |
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|
2,155 |
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|
3,156 |
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|
5,335 |
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Facility-related and other |
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2,948 |
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4,373 |
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6,013 |
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|
8,908 |
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Impairment of long-lived assets |
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5,807 |
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— |
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5,807 |
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— |
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Gain on sale of VOWST Business (2) |
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(25,000 |
) |
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|
(185 |
) |
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|
(25,000 |
) |
|
|
(52,366 |
) |
Other segment (income) expense (1) |
|
(367 |
) |
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(3,149 |
) |
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(1,266 |
) |
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|
(7,356 |
) |
Net income (loss) |
$ |
4,581 |
|
|
$ |
(19,855 |
) |
|
$ |
(15,332 |
) |
|
$ |
12,827 |
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[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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