Segment Information |
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| Segment Information | 11. Segment Information We operate our business in one operating segment, which also represents one reportable segment: life sciences. The life sciences segment historically focused on the development of innovative therapies for the treatment of cancer and other serious diseases. Following the restructuring activities implemented during 2026, the transition of the LNCB74 program and the wind-down of the Company's remaining sponsored clinical activities, the segment is primarily focused on supporting existing collaboration and licensing arrangements, managing legacy clinical and intellectual property assets, fulfilling public company obligations and pursuing strategic transactions, including the proposed Merger with Avere. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The accounting policies of the life sciences segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The CODM assesses performance for the life science segment based on net loss, which is reported on the statements of operations and comprehensive loss as net loss. The measure of segment assets is reported on the balance sheet as total assets. To date, the Company has not generated any product revenue. The Company expects to continue to incur operating expenses and operating losses as it executes its strategic plan, including completing the proposed Merger, managing its remaining assets and obligations, supporting existing collaboration arrangements and seeking opportunities to monetize its legacy programs and intellectual property. As such, the CODM uses cash forecast models in deciding how to invest into the life sciences segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment and in establishing management’s compensation, along with cash forecast models. The tables below summarize the significant expense categories regularly reviewed by the CODM for the three and nine months ended September 30, 2026 and 2025:
(1) Other R&D consists primarily of facilities-related expenses and office expenses. Other R&D also includes $17.0 million related to the License Agreement with Zaiming for the nine months ended September 30, 2025 (Note 3, License Agreement). (2) Other G&A consists primarily of facilities-related expenses, depreciation, office expenses and taxes and fees. |
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