XML 35 R25.htm IDEA: XBRL DOCUMENT v3.25.2

Segment information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Significant Segment Expenses

The following table is a summary of the Company's significant segment expenses:

															Three months ended June 30, 2025						Three months ended June 30, 2024						Change
Direct research and development expenses:
VTP-1000 Celiac															$	1,782					$	1,371					$	411
VTP-300 HBV															1,837						3,034						(1,197)
Other clinical programs1															642						1,125						(483)
Other pre-clinical programs															449						908						(459)
Total direct research and development expenses															4,710						6,438						(1,728)
Indirect research and development expenses:
Personnel-related (including share-based compensation)2															2,450						4,763						(2,313)
Facility related															350						342						8
Other indirect costs															443						119						324
Total indirect research and development expenses															3,243						5,224						(1,981)
Total research and development expenses															$	7,953					$	11,662					$	(3,709)

															Six months ended June 30, 2025						Six months ended June 30, 2024						Change
Direct research and development expenses:
VTP-1000 Celiac															$	2,764					$	2,744					$	20
VTP-300 HBV															3,187						4,947						(1,760)
Other clinical programs1															1,383						2,893						(1,510)
Other pre-clinical programs															868						1,693						(825)
Total direct research and development expenses															8,202						12,277						(4,075)
Indirect research and development expenses:
Personnel-related (including share-based compensation)2															6,394						9,097						(2,703)
Facility related															685						732						(47)
Other indirect costs															962						681						281
Total indirect research and development expenses															8,041						10,510						(2,469)
Total research and development expenses															$	16,243					$	22,787					$	(6,544)

1 This includes expenses relating to the infectious disease and oncology programs; VTP-850 Prostate cancer, VTP-200 HPV, VTP-600 NSCLC (the Phase 1/2a trial is sponsored by Cancer Research UK) and VTP-500 MERS (funded pursuant to an agreement with the Coalition for Epidemic Preparedness Innovations (“CEPI”). Expenses relating to these programs were previously presented separately, but are now aggregated for the prior period comparative.

2This includes $0.1 million and $0.1 million for the three and six months ended June 30, 2025, respectively (three and six months ended June 30, 2024:$0.2 million and $0.3 million, respectively) of personnel-related indirect expenses relating to time spent progressing the VTP-500 MERS program, which is funded by CEPI.

Schedule of Long-Lived Assets

The Company operates in two geographic regions: the U.S. and the U.K. The following table summarizes the Company’s assets held for sale and long-lived assets, which include the Company’s intangible assets, property and equipment, net, and right-of-use assets, by geography:

			June 30, 2025						December 31, 2024
United States			$	26,845					$	28,907
United Kingdom			1,771						4,797
			$	28,616					$	33,704

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration