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Segment Reporting
 6 Months Ended
Apr. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
15.
Segment Reporting

The Company operates and manages its business as one operating segment and one reportable segment, which is focused on developing genetic medicines to improve the lives of patients suffering from bladder cancer. The CODM manages the Company’s operations on a consolidated basis, assesses performance for the operating segment and decides how to allocate resources based on consolidated net loss, which is reported on the consolidated statements of operations.

The CODM uses consolidated net loss to evaluate the Company’s spend, deploy resources across research and development activities and monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing the performance of the operating segment and in establishing resource allocation across the organization.

Factors used in determining the reportable segment include the nature of the Company's operating activities, the organizational and reporting structure and the type of information reviewed by the CODM to allocate resources and evaluate financial performance. The accounting policies of the segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The measure of segment assets used in determining how to manage and allocate resources is reported within the Company's consolidated balance sheets as cash and cash equivalents and marketable securities.

The following table summarizes significant segment expenses, other segment items and the measure of segment net loss of the Company's reportable segment for the three and six months ended April 30, 2026 and 2025:

Three Months Ended April 30,

 

 

Six Months Ended April 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

Research and development expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Chemistry, Manufacturing and Controls(1)

$

7,682

 

 

$

7,817

 

 

$

18,154

 

 

$

19,379

 

 

Clinical operations(2)

 

5,106

 

 

 

4,549

 

 

 

9,165

 

 

 

8,114

 

 

Other research and development expenses(3)

 

2,070

 

 

 

2,605

 

 

 

3,400

 

 

 

3,653

 

 

Personnel-related expenses, excluding stock-based compensation

 

5,710

 

 

 

4,350

 

 

 

11,100

 

 

 

7,524

 

 

Stock based compensation

 

1,627

 

 

 

888

 

 

 

2,631

 

 

 

1,513

 

 

       Total research and development expenses

 

22,195

 

 

 

20,209

 

 

 

44,450

 

 

 

40,183

 

 

General and administrative expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Personnel-related expenses, excluding stock-based compensation

 

3,164

 

 

 

2,660

 

 

 

6,507

 

 

 

5,087

 

 

Stock based compensation

 

2,518

 

 

 

1,762

 

 

 

4,317

 

 

 

2,946

 

 

Other general and administrative expenses(4)

 

4,091

 

 

 

2,493

 

 

 

7,879

 

 

 

5,521

 

 

  Total general and administrative expenses

 

9,773

 

 

 

6,915

 

 

 

18,703

 

 

 

13,554

 

 

Other segment items(5)

 

(1,741

)

 

 

(1,309

)

 

 

(3,174

)

 

 

(3,306

)

 

Net loss

$

30,227

 

 

$

25,815

 

 

$

59,979

 

 

$

50,431

 

 

(1) External expenses associated with clinical manufacturing of the Company's lead compound, detalimogene.

(2) External and internal expenses associated with clinical operations related to research and development of the Company's lead compound, detalimogene.

(3) Represents research and development expenses associated with preclinical, medical affairs, regulatory, quality, program management and facility related costs.

(4) Represents general and administrative costs associated with external legal fees, facilities, professional fees, and other overhead costs.

(5) Other segment items include interest income, interest expense, loss on extinguishment of debt and other expenses. A breakdown of each category by period can be seen within the Condensed Statements of Operations and Comprehensive Loss.