v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

(12) Segment Information

Operating segments are defined as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM) or decision-making group, in making decisions on how to allocate resources and assess performance. The principal executive officer (PEO) is the CODM. The Company operates in one operating segment; discovery and development of Synthetic Biotics.

The CODM manages and allocates resources to the operations of the Company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with long-term company-wide strategic goals. In making these decisions, the PEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company's consolidated net income (loss) that is reported on the consolidated statements of operations and comprehensive income (loss). Through this analysis, the CODM assesses performance by comparing actual consolidated net income (loss) versus the budget, and then decides how to allocate resources to invest in the Company's research and development programs. The measure of segment assets is reported on the consolidated balance sheets as total assets. In addition, research and development, general and administrative expenses, and restructuring charges are significant segment expenses regularly provided to the PEO with the following categories (in thousands):

Research and Development

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Clinical research and external costs

$

13

 

 

$

10

 

 

$

66

 

 

$

15

 

Facility and all other costs

 

(3

)

 

 

—

 

 

 

(7

)

 

 

—

 

Compensation and benefits

 

—

 

 

 

(24

)

 

 

—

 

 

 

(7

)

Total research and development expense

$

10

 

 

$

(14

)

 

$

59

 

 

$

8

 

 

General and Administrative

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Consulting and professional services

$

672

 

 

$

598

 

 

$

1,567

 

 

$

1,226

 

Compensation and benefits

 

114

 

 

 

149

 

 

 

236

 

 

 

294

 

Facility and all other costs

 

42

 

 

 

53

 

 

 

89

 

 

 

116

 

Total general and administrative expense

$

828

 

 

$

800

 

 

$

1,892

 

 

$

1,636

 

Restructuring Charges

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Facility and all other costs

$

—

 

 

$

(68

)

 

$

—

 

 

$

(80

)

Compensation and benefits

 

66

 

 

 

61

 

 

 

131

 

 

 

109

 

Consulting and professional services

 

108

 

 

 

19

 

 

 

249

 

 

 

19

 

Clinical research and external costs

 

—

 

 

 

(21

)

 

 

—

 

 

 

(17

)

Total restructuring charges

$

174

 

 

$

(9

)

 

$

380

 

 

$

31