v3.25.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting

3. Segment Reporting

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and in assessing the Company's performance. The Company operates as a single operating segment and has one reportable segment which focuses on developing next-generation complement therapeutics for patients living with severe autoimmune and inflammatory diseases.

The Company’s CODM is its Chief Executive Officer. The CODM manages the Company’s operations on a consolidated basis as one operating segment for the purposes of evaluating financial performance and allocating resources.

The Company hasn’t generated any revenue from product sales yet. The CODM assesses the financial performance of the segment and decides how to allocate resources based on net loss on a consolidated basis. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets.

The CODM uses net loss predominantly in the annual operating budget and in the strategic planning and forecasting process. Such profit or loss measure is used to monitor budget versus actual results on an ongoing basis by the CODM and determine how resources are allocated to the various activities of the Company. The CODM also uses net loss to evaluate the Company’s performance and assist in determination of management’s incentive compensation.

All of the Company’s tangible assets are held in the United States. The Company views its operations and manages its business in one operating segment operating exclusively in the United States.

The table below provides a summary of the segment profit or loss, including significant segment expenses:

 

Year Ended
December 31,

 

2024

 

 

2023

 

Revenues

 

 

 

 

 

License revenue - related party

$

5,909

 

 

$

2,826

 

License revenue

 

326

 

 

 

—

 

Total revenues

 

6,235

 

 

 

2,826

 

Research and development expenses:

 

 

 

 

 

DNTH103 program-related expenses:

 

 

 

 

 

Clinical operation activities

 

25,764

 

 

 

4,931

 

CMC activities

 

19,494

 

 

 

5,969

 

Preclinical study costs

 

8,537

 

 

 

7,024

 

Other costs

 

600

 

 

 

100

 

Total DNTH103 program-related expenses

 

54,395

 

 

 

18,024

 

Personnel and related costs

 

16,638

 

 

 

9,515

 

Share-based compensation

 

5,576

 

 

 

897

 

Discovery expenses

 

2,117

 

 

 

1,426

 

Other costs

 

4,379

 

 

 

2,979

 

Total research and development expenses

 

83,105

 

 

 

32,841

 

General and administrative expenses:

 

 

 

 

 

Personnel and related costs

 

8,249

 

 

 

9,600

 

Share-based compensation

 

7,318

 

 

 

2,003

 

Other costs

 

9,427

 

 

 

6,556

 

Total general and administrative expenses

 

24,994

 

 

 

18,159

 

Other income, net

 

16,895

 

 

 

4,619

 

Net loss

$

(84,969

)

 

$

(43,555

)