v3.26.1
Segment Performance Measures and Expenses
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Performance Measures and Expenses

Note 5. Segment Performance Measures and Expenses

 

The Company operates in one segment for the research and development of our product candidates. The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company based on consolidated financial information. Consequently, we view the entire organization as one reportable segment and the strategic purpose of all operating activities (including general and administrative expenses) is to support that one segment. As a pre-revenue research and development company, the CODM evaluates company-wide performance and allocates resources based on non-financial research and development milestones achieved, and to a lesser extent, financial measures of performance such as clinical development (research and development expenses) and general and administrative expenses incurred. Our CODM does not generally evaluate our performance using asset or historical cash flow information.

 

The table below provides a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):

 

               
   For the six months ended June 30, 
   (In thousands)   Change Increase (Decrease) 
   2026   2025         
Operating Expenses:                    
Clinical Research                    
OVATION Trials (Phase 2 & 3)  $347   $309   $38    12.3%
MRD Study   96    73    23    31.5%
PlaCCine Vaccine Phase 1 Trial   -    83    (83)   (100.0)%
Other Clinical and Regulatory   929    901    28    3.1%
Subtotal   1,372    1,366    6    0.4%
Non-Clinical R&D and CMC                    
Manufacturing & Clinical Supply   2,430    2,026    404    19.9%
Subtotal   2,430    2,026    404    19.9%
                     
Research and development expenses   3,802    3,392    410    12.1%
General and administrative expenses   3,296    3,521    (225)   (6.4)%
Total operating expenses   7,098    6,913    185    2.7%
                     
Loss from operations  $(7,098)  $(6,913)  $(185)   (2.7)%