Segment Reporting

3 Months Ended

Mar. 31, 2025

Segment Reporting

Segment Reporting

14. Segment Reporting

The Company operates and manages its business as one reportable operating segment, which is the business of developing pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat acute and chronic bacterial infections using its proprietary bacteriophage-based technology. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews financial information on an aggregate basis for purposes of assessing performance, making operating decisions, allocating resources and evaluating financial performance. The Company maintains 99.3% of its $12.9 million property and equipment, net within the United States.

The following table includes certain segment information for the years ended March 31, 2025 and 2024.

	Three Months Ended March 31,
	2025		2024
Grant and award revenue	$	491	$	966
Operating expenses
Research and development expenses:
AP-PA02: Non-Cystic Fibrosis Bronchiectasis		(440)		1,834
AP-PA02: Cystic Fibrosis		11		97
AP-SA02: Bacteremia		652		83
AP-SA02: Prosthetic Joint Infection		1		7
Expenses not allocated by projects		520		632
Total external research and development expenses		744		2,653
Research and development personnel expenses		2,313		2,613
Other research and development expenses		2,372		2,750
Total research and development expenses		5,429		8,016
General and administrative expenses:
General and administrative personnel expenses		1,401		934
Other general and administrative expenses		1,852		2,244
Total general and administrative expenses		3,253		3,178
Total operating expenses		8,682		11,194
Operating loss		(8,191)		(10,228)
Other income (expense), net		1,660		(14,793)
Net loss	$	(6,531)	$	(25,021)