| Schedule of reportable segment net (loss) income |
The Company's reportable segment net (loss) income for the three and nine months ended September 30, 2026 and 2025, consisted of the following (in thousands):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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|
2025 |
|
|
2026 |
|
|
2025 |
|
Grant revenue |
$ |
593 |
|
|
$ |
351 |
|
|
$ |
1,687 |
|
|
$ |
351 |
|
Significant segment expenses: |
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Live biotherapeutics platform |
$ |
2,297 |
|
|
$ |
6,165 |
|
|
$ |
13,705 |
|
|
$ |
17,096 |
|
SER-155 |
|
282 |
|
|
|
1,220 |
|
|
|
1,028 |
|
|
|
2,841 |
|
R&D personnel-related (including stock-based compensation) |
|
2,732 |
|
|
|
5,229 |
|
|
|
12,332 |
|
|
|
17,431 |
|
G&A personnel-related (including stock-based compensation) |
|
1,964 |
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|
|
3,863 |
|
|
|
7,926 |
|
|
|
11,761 |
|
Professional fees |
|
1,753 |
|
|
|
2,035 |
|
|
|
4,909 |
|
|
|
7,370 |
|
Facility-related and other |
|
1,731 |
|
|
|
3,578 |
|
|
|
7,744 |
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|
|
12,486 |
|
Impairment of long-lived assets |
|
5,705 |
|
|
|
— |
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|
|
11,512 |
|
|
|
— |
|
Gain on sale of VOWST Business (2) |
|
— |
|
|
|
(27,222 |
) |
|
|
(25,000 |
) |
|
|
(79,588 |
) |
Other segment expense (income) (1) |
|
415 |
|
|
|
(2,721 |
) |
|
|
(851 |
) |
|
|
(10,077 |
) |
Net (loss) income |
$ |
(16,286 |
) |
|
$ |
8,204 |
|
|
$ |
(31,618 |
) |
|
$ |
21,031 |
|
[1] Other segment expense (income) includes manufacturing services expenses, research and development expenses on early stage programs, interest income and other expense (income), net. [2] See Note 3, Discontinued Operations and TSA, for further details.
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