SEGMENT REPORTING

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

15. SEGMENT REPORTING

Reportable segments are presented in a manner consistent with the internal reporting provided to the chief operating decision maker (CODM), the Chief Executive Officer of the Company. The CODM allocates resources to and assesses the performance of each segment using information about its revenue and operating income (loss). The Company’s operations involve products and services which are managed separately. Accordingly, it operates in two segments: 1) regenerative medicine products and 2) contract services. In April 2022, the Company sold IBEX and IBEX Property, the Company’s subsidiaries which operate within the contract services reporting segment. Contract services ceased to be a reportable segment upon disposal of IBEX and historical information from prior to the disposal date is reported here. See Note 5 for detail on management’s disposal of IBEX.

Certain information concerning the Company’s segments is presented in the following tables (in thousands):

	For the Three Months Ended
	March 31,
	2023			2022
Net revenues:
Reportable segments:
Regenerative medicine	$	—		$	—
Contract services		—			741
Total net revenues	$	—		$	741
Net (loss)/income:
Reportable segments:
Regenerative medicine	$	(4,243	)	$	(3,545	)
Contract services		—			(226	)
Total net loss	$	(4,243	)	$	(3,771	)