Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting

Segment Reporting

19 Segment Reporting

The Company manages its operations as a single operating segment for the purpose of assessing performance and making operating decisions while focusing on the development and commercialization of innovative cardiovascular medicines. These operations are focused on a single product, which are reported on a consolidated basis.  The accounting policies of the single operating segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker, or “CODM,” assesses performance of the Company’s single operating segment based on consolidated net loss. Net loss is used by the CODM to evaluate budget to actual analytics, which are used to monitor the single segment spend and confirm the Company is meeting established budgetary goals. The CODM is the principal officer group, which includes the Company’s chief executive officer and chief financial officer.

The following table presents information about the Company’s significant expenses, as provided to the Company’s CODM, and includes a reconciliation to consolidated net loss:

	Year ended December 31,
(in thousands)	2024		2023
Revenue	$	—	$	1,000
Less:
Research and development, net of tax credits, excluding share-based compensation		12,483		27,771
General and administrative, excluding share-based compensation		13,571		11,083
Commercial, excluding share-based compensation		10,272		13,710
Share-based compensation expense		5,776		9,534
Interest income		(4,164)		(3,967)
Interest expense		3,581		2,554
Net loss	$	(41,519)	$	(59,685)

The measure of segment assets is reported on the balance sheet as total consolidated assets.