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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

11. Segment Reporting

 

The Company has one reportable and one operating segment and manages its business activities primarily in North America and on a consolidated basis. The Company’s singular focus is on developing treatments through gene therapy and other means for patients with neuromuscular and cardiac diseases. All of the Company’s tangible assets are held in the United States.

The accounting policies of the Company are the same as those described in the summary of significant accounting policies.

The Company’s chief operating decision maker ("CODM") is its chief executive officer. The CODM assesses performance for the Company and decides how to allocate resources based on net loss as reported on the condensed consolidated statements of operations. The annual budgeting process is the primary mechanism used to make these decisions. The financial information also helps in making performance assessments using budgeted versus actual results.

 

 

 

 

 

 

The following table presents segment expenses, other segment items, and segment net loss for the periods presented:

 

 

 

Three Months Ended
March 31,

 

 

 

2025

 

 

2024

 

Segment expenses:

 

 

 

 

 

 

SGT-003

 

 

9,166

 

 

 

1,906

 

SGT-501

 

 

4,466

 

 

 

3,807

 

External R&D other

 

 

2,770

 

 

 

2,728

 

Internal R&D expense(1)

 

 

6,843

 

 

 

5,377

 

External G&A expense

 

 

4,877

 

 

 

5,434

 

Internal G&A expense(1)

 

 

3,463

 

 

 

2,966

 

Other segment items(2)

 

 

8,467

 

 

 

4,644

 

Other income, net

 

 

(770

)

 

 

(2,559

)

Condensed consolidated net loss

 

 

(39,282

)

 

 

(24,303

)

 

(1)

Internal expenses consisted primarily of payroll and related costs, temporary services, and travel and entertainment.

(2)

Other segment items primarily included equity-based compensation expense, other program costs, and depreciation and amortization expense.

 

The measure of segment assets is reported on the balance sheet as total condensed consolidated assets.