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Segment Reporting | 9 Months Ended
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Sep. 30, 2025
Segment Reporting |
Segment Reporting | 14. Segment Reporting The Company operates and manages its business as one reportable operating segment, which is the business of developing pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat acute and chronic bacterial infections using its proprietary bacteriophage-based technology. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews financial information on an aggregate basis for purposes of assessing performance, making operating decisions, allocating resources and evaluating financial performance. The Company maintains 99.5% of its $12.6 million property and equipment, net within the United States. ​ ​ The following table includes certain segment information for the periods presented (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024
Grant and award revenue | ​ | $ | 1,159 | ​ | $ | 2,973 | ​ | $ | 3,819 | ​ | $ | 3,939
Operating expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Research and development expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
AP-PA02: Non-Cystic Fibrosis Bronchiectasis | ​ | ​ | 190 | ​ | ​ | 1,858 | ​ | ​ | (98) | ​ | ​ | 5,459
AP-PA02: Cystic Fibrosis | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 25 | ​ | ​ | 235
AP-SA02: Bacteremia | ​ | ​ | 404 | ​ | ​ | 1,618 | ​ | ​ | 2,067 | ​ | ​ | 2,752
AP-SA02: Prosthetic Joint Infection | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 2 | ​ | ​ | 8
Expenses not allocated by projects* | ​ | ​ | 545 | ​ | ​ | 726 | ​ | ​ | 1,657 | ​ | ​ | 1,903
Total external research and development expenses | ​ | ​ | 1,139 | ​ | ​ | 4,202 | ​ | ​ | 3,653 | ​ | ​ | 10,357
Research and development personnel expenses | ​ | ​ | 2,287 | ​ | ​ | 2,874 | ​ | ​ | 6,893 | ​ | ​ | 8,296
Other research and development expenses | ​ | ​ | 2,398 | ​ | ​ | 2,409 | ​ | ​ | 7,101 | ​ | ​ | 7,322
Total research and development expenses | ​ | ​ | 5,824 | ​ | ​ | 9,485 | ​ | ​ | 17,647 | ​ | ​ | 25,975
General and administrative expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative personnel expenses | ​ | ​ | 1,141 | ​ | ​ | 1,273 | ​ | ​ | 3,733 | ​ | ​ | 3,778
Other general and administrative expenses | ​ | ​ | 1,970 | ​ | ​ | 1,971 | ​ | ​ | 5,250 | ​ | ​ | 6,083
Total general and administrative expenses | ​ | ​ | 3,111 | ​ | ​ | 3,244 | ​ | ​ | 8,983 | ​ | ​ | 9,861
Total operating expenses | ​ | ​ | 8,935 | ​ | ​ | 12,729 | ​ | ​ | 26,630 | ​ | ​ | 35,836
Operating loss | ​ | ​ | (7,776) | ​ | ​ | (9,756) | ​ | ​ | (22,811) | ​ | ​ | (31,897)
Other income (expense), net | ​ | ​ | (18,899) | ​ | ​ | 4,275 | ​ | ​ | (26,690) | ​ | ​ | 10,381
Net loss | ​ | $ | (26,675) | ​ | $ | (5,481) | ​ | $ | (49,501) | ​ | $ | (21,516)
​

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- Definition The entire disclosure for reporting segments including data and tables. 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