Segment Reporting

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

Note 14 — Segment Reporting 

Reportable segments are presented in a manner consistent with the internal reporting provided to the Company’s CEO, who was the CODM as of June 30, 2023. The CODM allocates resources to and assesses the performance of each segment using information about its operating loss. During the second quarter of 2023, the Company managed its operations through two segments, research and development and commercial. The research and development segment is the Company’s historical business, and is dedicated to the research and development of transformational vaccines to prevent infectious diseases. The commercial segment was new in the second quarter of 2023, and is dedicated to the commercialization of the Company’s FDA-approved products, this currently being ENTADFI®. Neither segment has generated any revenue to date. The Company separately presents the costs associated with certain corporate functions as Corporate, primarily consisting of unallocated operating expenses including costs that were not specific to a particular segment but are general to the group, expenses incurred for administrative and accounting staff, directors’ and officers’ insurance, professional fees and other similar corporate expenses. There is no inter-segment allocation of non-operating expenses, interest and income taxes.

The Company’s operating loss by reportable segment is as follows:

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2023		2023
Research and development	$	846,853	$	1,929,089
Commercial		505,886		505,886
Corporate		5,296,861		7,062,884
Total	$	6,649,600	$	9,497,859

Total assets are not presented by operating segment as they are not reviewed by the CODM when evaluating the segments’ performance.