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Segment information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment information Segment information
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”), the Company’s Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The CODM approves key operating and strategic decisions, including key decisions in clinical development and clinical operating activities, entering into significant contracts and approves the Company's consolidated operating budget. The Company views its operations and manages its business as one operating segment, the research and development of immunotherapies and vaccines. The CODM uses loss before income tax to monitor budget versus actual results and decide how to use the Company's resources. As the Company operates in one operating segment, all required financial segment information can be found in these condensed consolidated financial statements. The following table is a summary of the Company's significant segment expenses:
Three months ended June 30, 2026Three months ended June 30, 2025Change
Direct research and development expenses:
VTP-1000 Celiac$2,936 $1,782 $1,154 
Barinthus legacy assets1
506 2,928 (2,422)
Total direct research and development expenses3,442 4,710 (1,268)
Indirect research and development expenses:
Personnel-related (including share-based compensation)440 2,450 (2,010)
Facility related15 350 (335)
Other indirect costs26 443 (417)
Total indirect research and development expenses481 3,243 (2,762)
Total research and development expenses$3,923 $7,953 $(4,030)
Six months ended June 30, 2026Six months ended June 30, 2025Change
Direct research and development expenses:
VTP-1000 Celiac$4,358 $2,764 $1,594 
Barinthus legacy assets1
1,986 5,438 (3,452)
Total direct research and development expenses6,344 8,202 (1,858)
Indirect research and development expenses:
Personnel-related (including share-based compensation)979 6,394 (5,415)
Facility related102 685 (583)
Other indirect costs91 962 (871)
Total indirect research and development expenses1,172 8,041 (6,869)
Total research and development expenses$7,516 $16,243 $(8,727)
1 In January 2025, we announced a strategic focus on developing a pipeline in I&I, and the deprioritization of our programs in infectious disease and oncology. The following programs were previously presented separately and have been grouped collectively as "Barinthus Legacy Assets" for both years presented: VTP-300 HBV, VTP-850 Prostate Cancer, VTP-200 HPV, VTP-600NSCLC, VTP-500 MERS and other and earlier stage programs.
The Company operates in two geographic regions: the U.S. and the U.K. The following table summarizes the Company’s long-lived assets, which include the Company’s intangible assets, property and equipment, net, and right-of-use assets, by geography:
June 30, 2026December 31, 2025
United States
$17,701 $19,449 
United Kingdom
— — 
$17,701 $19,449