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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Area Information
11.
Segment Information

Business Segment

The Company operates in one business segment, which is the business of developing and commercializing innovative ophthalmic products for the treatment of eye diseases. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM) in making decisions regarding resource allocation and assessing performance. The Company's CODM is the Chief Executive Officer. The CODM made such decisions and assessed performance at the Company level, as one segment.

Significant segment expenses are as follows (in thousands):

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Total revenues

 

$

24,453

 

 

$

11,684

 

DURAVYU™ direct research and development expense

 

 

(41,898

)

 

 

(13,710

)

Other direct research and development expense

 

 

(985

)

 

 

293

 

Personnel expense (including stock-based compensation)

 

 

(20,841

)

 

 

(24,224

)

Facilities expense

 

 

(1,409

)

 

 

(628

)

Depreciation and amortization

 

 

(497

)

 

 

(303

)

Intellectual property expense

 

 

(264

)

 

 

(318

)

Legal, corporate and professional expenses

 

 

(2,899

)

 

 

(3,075

)

Interest and other income, net

 

 

3,642

 

 

 

4,037

 

Other segment expenses*

 

 

(4,497

)

 

 

(3,040

)

Net loss

 

 

(45,195

)

 

 

(29,284

)

*Other segment expenses include cost of goods sold, other expenses required to operate as a public company, such as insurance, software and contracted services.