Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

14. Segment Information

The Company manages its operations as a single operating segment for the purpose of assessing performance and making operating decisions, resulting in a single reportable segment. The Company’s singular focus is on identifying and developing novel treatments for bacterial infections, including MDR bacterial infections, and rare diseases. The Company earns revenue from collaboration agreements with third parties and grant revenue in connection with various government awards. The Company has determined that its Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. The CODM reviews the Company’s financial information on a consolidated basis for the purpose of allocating resources and assessing financial performance. The measure of segment assets is reported on the balance sheet as total consolidated assets. All of the Company’s tangible assets are held in the United States.

The accounting policies for the operating segment are consistent with the Company’s policies for the Consolidated Financial Statements. The key measure of segment profit or loss that the CODM uses to allocate resources and assess performance is the Company’s consolidated profit or loss, as reported on the consolidated statements of operations and comprehensive loss. This is reviewed against budgeted expectations to assess segment performance and allocate resources. The Company's reportable segment net revenues, significant segment expenses and consolidated profit (loss) for the years ended December 31, 2024 and 2023, consisted of the following:

	Year Ended December 31,
	2024			2023
Revenues:
Grant Revenue	$	20,581		$	7,046
Collaboration revenue - related party		27,025			95,802
Collaboration revenue		371			933
Total revenues		47,977			103,781
Less:
Tebipenem HBr		60,502			16,695
SPR720		16,626			13,031
SPR206		570			3,240
Research and development personnel related (including share-based compensation)		14,111			13,788
Facility related and other, research and development		4,948			4,686
General and administrative personnel related (including share-based compensation)		13,188			15,324
Professional and consultant fees		8,198			8,151
Facility related and other, general and administrative		2,318			2,079
Other segment items*		817			5,320
Interest income		(4,735	)		(3,937	)
Income tax expense		-			2,598
Consolidated profit (loss)	$	(68,566	)	$	22,806

*Other segment items include restructuring charges (see Note 9), impairment of long-term asset and other income, net.