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v3.25.1

Segments | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Segments | 12. Segments The Company operates and manages its business as one reportable and operating segment, centered around the commercial development of its product candidates. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer (“CEO”). The Company’s CODM reviews consolidated operating results, manages the business on a consolidated basis and utilizes consolidated net loss from the consolidated statements of operations and comprehensive loss to make decisions about allocating resources and assessing performance for the entire Company. Consolidated net loss is also used to monitor budget to actual results. The CODM is additionally regularly provided with more detailed expense information at the program level. The following table is a summary of the segment profit or loss, including significant segment expenses (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Segment expenses: |  |  |  |  |  |
Trem-cel(a) |  | $ | 6,382 |  |  | $ | 4,861 |
VCAR33(a) |  |  | 3,636 |  |  |  | 2,600 |
Other research and development(a) |  |  | 2,995 |  |  |  | 3,117 |
Salaries and benefits |  |  | 11,613 |  |  |  | 12,113 |
General corporate activities |  |  | 5,169 |  |  |  | 5,299 |
Other segment items(b) |  |  | 2,691 |  |  |  | 2,814 |
Segment expenses: |  |  | 32,486 |  |  |  | 30,804 |
Segment net loss |  |  | (32,486 | ) |  |  | (30,804 | )
(a) Includes only external research and development expenditures. (b) Other segment items are primarily comprised of taxes, interest income on marketable securities and certain non-cash expenses such as stock-based compensation, depreciation expense, and non-cash lease expense. The measure of segment assets is reported on the consolidated balance sheet as total assets. The CODM additionally reviews cash, cash equivalents and marketable securities when reviewing segment assets. As of March 31, 2025, the Company’s cash, cash equivalents and marketable securities were $60.0 million. The Company does not provide its CODM with any more detailed segment asset information than what is included on the Company’s consolidated balance sheets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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