Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

13. Segment Reporting

The Company operates as a single reporting segment, focused on the research and development of cell therapies for patients with autoimmune diseases. The Company's measure of segment profit or loss is net loss. The Chief Executive Officer, as the CODM, manages and allocates resources to the operations of the Company on a total company basis. The Company monitors its cash, cash equivalents, and investments as reported on the Company's Balance Sheets to determine funding for its research and development.

As the Company is not yet generating revenue, the CODM evaluates its performance based on progress in pre-clinical and clinical research objectives. Along with the Company’s Statement of Operations and Comprehensive Loss, the CODM regularly reviews budgeted and forecasted expenses to assess liquidity requirements and allocate cash accordingly.

The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company's single reporting segment.

A reconciliation to the net loss for the years ended December 31, 2024 and 2023 is included at the bottom of the table below.

	December 31,
	2024			2023
Segment expenses:
Personnel related expenses, excluding share-based compensation	$	41,129		$	42,329
Facilities expenses		19,403			16,392
Direct external development program expenses		21,431			29,517
Other segment expenses (1)		20,348			16,244
Total segment expenses:		102,311			104,482
Segment loss		(102,311	)		(104,482	)
Reconciling items:
Depreciation and amortization		(9,152	)		(5,869	)
Share-based compensation		(16,731	)		(17,199	)
Impairment of ROU asset					(4,100	)
Interest income		19,317			14,107
Other income, net		87			42
Net loss	$	(108,790	)	$	(117,501	)

(1) Other segment items include consultants and contractor, lab supplies, and general business expenses.