Segment Information

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Information

Note 14. Segment Information

The Company manages its business activities on a consolidated basis and operates as one operating and reportable segment, which is the business of developing and commercializing the Company's proprietary AIDE technology platform. The key factors used to identify the reportable segments are the organization of its business and alignment of the Company's internal operations and the nature of our AIDE technology. Operating segments are defined as components of an enterprise for which discrete financial information is available and is evaluated regularly by the CODM, in deciding how to allocate resources and assess performance.

The Company’s Chief Executive Officer, who is the CODM, reviews financial information on a consolidated basis for purposes of allocating and evaluating financial performance. The CODM evaluates the Company’s performance and resource allocation by analyzing consolidated net loss, as reported on the consolidated statement of operations. This assessment involves comparing net loss across prior periods, the Company's forecast, and total expenditures related to eDSP product development and the ongoing Phase 3 NEAT clinical trial.

The measure of segment assets reviewed by the CODM is the consolidated total assets, as reported on the consolidated balance sheet. The following table presents the measure of segment assets regularly provided to the CODM (in thousands):

	June 30, 2025		December 31, 2024
Cash, cash equivalents and short-term investments		34,708		40,784

The following table presents financial information, including significant segment expenses, which are regularly provided to the CODM and included within consolidated net loss (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Research and development:
Personnel	$	1,294		$	757		$	2,614		$	1,544
Stock-based compensation		438			81			873			187
Clinical and contract manufacturing		5,342			3,718			12,069			7,040
Other		(521	)		(409	)		(858	)		(922	)
General and administrative:	0
Personnel		1,038			1,568			2,765			2,995
Stock-based compensation		834			1,142			1,785			2,310
Consulting and professional costs		786			1,015			2,252			2,613
Other		684			970			1,329			1,748
Goodwill impairment charge		—			17,130			—			17,130
Fair value adjustment for contingent consideration		532			2,220			2,456			4,765
Total operating expenses		10,427			28,192			25,285			39,410
Loss from operations		(10,427	)		(28,192	)		(25,285	)		(39,410	)
Other segment items		(5,622	)		463			(5,794	)		532
Net loss	$	(16,049	)	$	(27,729	)	$	(31,079	)	$	(38,878	)

Other segment items within net loss include fair value adjustments for long-term debt and warrants, warrant issuance costs, interest income, other income (expense), net, and income tax expense.

The Company’s long-lived assets consist primarily of property, plant and equipment, net, and operating lease right-of-use assets are maintained in Italy. As of June 30, 2025 and December 31, 2024, no individual country other than the U.S. accounted for 10% or more of these assets.