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Segment Performance Measures and Expenses
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Performance Measures and Expenses

Note 5. Segment Performance Measures and Expenses

 

The Company operates in one segment for the research and development of our product candidates. The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company based on consolidated financial information. Consequently, we view the entire organization as one reportable segment and the strategic purpose of all operating activities (including general & administrative expenses) is to support that one segment. As a pre-revenue research and development company, the CODM evaluates company-wide performance and allocates resources based on non-financial research and development milestones achieved, and to a lesser extent, financial measures of performance such as clinical development (research and development expenses) and general and administrative expenses incurred. Our CODM does not generally evaluate our performance using asset or historical cash flow information.

 

The table below provides a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):

 

                    
   For the three months ended March 31, 
   (In thousands)   Change Increase (Decrease) 
   2025   2024         
Operating Expenses:                    
Clinical Research                    
OVATION  $214   $287   $(73)   (25.4)%
Vaccine   58    571    (513)   (89.8)%
Other Clinical and regulatory   574    477    97    20.3%
Subtotal   846    1,335    (489)   (36.6)%
Non-Clinical R&D and CMC                    
OVATION   913    405    508    125.4%
PlaCCine Vaccine   -    1,215    (1,215)   -%
Manufacturing (CMC)   406    339    67    19.8%
Subtotal   1,319    1,959    (640)   (32.7)%
Research and development expenses   2,165    3,294    (1,129)   (34.3)%
General and administrative expenses   1,980    1,717    263    15.3%
Total operating expenses   4,145    5,011    (866)   (17.3)%
Loss from operations  $(4,145)  $(5,011)  $(866)   (17.3)%