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

Note O – Segment Information

We are managed and currently operate as four segments. However, we have concluded that our operating segments meet the criteria required by Accounting Standards Codification (“ASC”) 280 to be aggregated into one reportable segment. Our operating segments have similar economic characteristics and are similar with respect to the five qualitative characteristics specified in ASC 280. Accordingly, we have one reportable segment. Our one reportable segment is focused on the discovery, development and manufacturing of a comprehensive pipeline of immunological agents designed to expand patient populations benefiting from cancer immunotherapy.

Our Chief Executive Officer serves as our Chief Operating Decision Maker (“CODM”) and is responsible for reviewing company performance and making decisions regarding resource allocation. Our CODM evaluates company performance based on net loss, as included in the Consolidated Statements of Operations and Comprehensive Loss, ensuring resource allocation decisions support company goals. The measure of segment assets is total assets, as included in the Condensed Consolidated Balance Sheets. Refer to the condensed consolidated financial statements for other financial information regarding our single reportable segment.

The following table presents selected financial information related to our single reportable segment for the three months ended March 31, 2025 and 2024 (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Revenues

 

$

24,066

 

 

$

28,005

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

External expenses

 

 

(19,022

)

 

 

(36,995

)

Payroll related expenses

 

 

(12,105

)

 

 

(17,403

)

Other operating expenses

 

 

(6,250

)

 

 

(6,489

)

Operating loss

 

 

(13,311

)

 

 

(32,882

)

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

Interest expense

 

 

(12,983

)

 

 

(30,274

)

Interest income

 

 

188

 

 

 

808

 

Other expense

 

 

(264

)

 

 

(1,106

)

Net loss

 

$

(26,370

)

 

$

(63,454

)