SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Direct Expenses With Respect to Program Segments

The following tables summarize the Company’s segment information as presented to the CEO and as required in ASU 2023-07 for the periods indicated:


	For the Three Months Ended March 31,
(in thousands)	2025		2024
Revenue	$	130	$	148
Payroll and payroll-related expenses	1,837		2,937
Direct program expenses
OV350/KCC2 library	2,778		1,778
OV888 (GV101)	339		2,840
OV329	859		1,239
Gensaic projects	—		521
Other programs	268		318
Total direct program expenses	4,244		6,697
Other research and development expenses	578		763
Total research and development expenses	6,659		10,397
Payroll and payroll-related expenses	3,130		3,891
Legal and professional fees	1,451		1,673
General office expenses	1,440		1,604
Total general and administrative expenses	6,021		7,168
Total operating expenses	12,680		17,565
Operating loss	(12,550)		(17,417)
Other (income) expense	(2,315)		(5,723)
Net loss	$	(10,235)	$	(11,694)

Other research and development expenses include general office expenses allocated to research and development, including costs related to rent and depreciation of leasehold improvements, and nonclinical contract labor. Other income/expense includes a gain on fraudulent funds transfer, unrealized net gain on equity investments and interest/accretion income on securities.

Other significant segment information includes:


	For the Three Months Ended March 31,
(in thousands)	2025	2024
Stock-based compensation expense	1,284	1,968
Interest/accretion income on securities	491	1,327
Severance expense	435	—
Gain on recovery of fraudulent funds transfer	1,800	—
Unrealized net gain on equity investments	—	4,394
Depreciation and amortization	141	136