Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Information

v3.25.1
Segment Information
12 Months Ended
Dec. 31, 2024
Segment Information  
Segment Information

Note 12 – Segment Information

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources in assessing performance. The Company views its operations and manages its business in one reportable segment, which reflects the research and development of potential cures for difficult-to-treat cancers and autoimmune diseases. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The primary financial measure by which the CODM evaluates the business is net loss. The CODM uses net loss to monitor budget versus actual results to assess performance of the segment.

The table below summarizes the significant segment expenses reported to the CODM for the years ended December 31, 2024 and 2023:

For the year ended December 31, 

2024

2023

Operating expenses:

MB-106 program costs

$

516

$

4,727

MB-109 program costs

487

1,140

All other program costs

(641)

548

Research and development - stock-based compensation

(650)

132

Research and development - other costs (1)

7,845

33,966

Research and development - licenses acquired

861

527

General and administrative - stock-based compensation

201

435

General and administrative - other costs (2)

3,934

9,251

Segment operating loss

$

12,553

$

50,726

Reconciliation to net loss

Asset impairment

(3,692)

-

Gain on sale of property and equipment

-

1,466

Other income (expense), net

314

917

Interest income (expense), net

179

(3,259)

Net Loss

$

(15,752)

$

(51,602)

(1) Includes expenses primarily related to the repurchase of equipment from uBriGene and termination of existing manufacturing and service agreements with uBriGene, lab supplies and software licenses and subscriptions.
(2) Includes expenses primarily related to outside service costs, business insurance and board of director fees.