Segments

12 Months Ended

Dec. 31, 2024

Segments

Segments

4. Segments

The Company views its operations and manages its business in one operating segment, that of the development and commercialization of drugs and antibodies that target critical elements of the immune system. The Company's CODM is made up of the Chief Executive Officer and Chief Financial Officer. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is reported on the consolidated statement of operations and comprehensive loss. The measure of segment assets is reported on the balance sheet as total consolidated assets. Managing and allocating resources on a consolidated basis enables the CODM to assess the overall level of resources available and how to best deploy these resources across functions and programs that are in line with the Company's long-term company-wide strategic goals.

The following table presents reportable segment net loss, including significant expense categories, attributable to the Company's reportable segment for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	Year Ended December 31,
	2024		2023			2022
Compensation and benefits, excluding stock-based compensation	$	7,438	$	6,737	$	7,239
Stock-based compensation		3,003		2,148		2,691
Drug manufacturing		2,485		2,195		11,213
Clinical trial		4,148		2,716		3,159
Outside general and administrative		3,101		2,703		2,978
Facilities and insurance		3,219		3,160		3,342
Other segment items (1)		4,154		3,748		1,943
Total segment expense		27,548		23,407		32,565
Non-operating income and expense, net		34,745		3,622		8,742
Net loss	$	62,293	$	27,029	$	41,307

(1) Includes consulting, non-clinical research and laboratory supplies.