Annual report pursuant to Section 13 and 15(d)

Segment Reporting

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

(12) Segment Reporting

In accordance with FASB ASC Topic 280, Segment Reporting, the Company has determined that it operates as a single business segment, which is the development and commercialization of innovative treatments for drug resistant bacterial infections. The financial results of the Company’s operations are managed and reported to the Chief Executive Officer (CEO) and Chief Financial Officer (CFO), who together are considered the Company’s chief operating decision maker (CODM), on a consolidated basis. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations and key components and processes of the Company’s operations are managed centrally. Segment asset information is not used by the CODM to allocate resources.

As a single reportable segment entity, the Company’s segment performance measure is net income / (loss) attributable to shareholders. Significant segment expenses, as provided to the CODM, are presented below.

 

Years Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Segment cost of sales (a)

$

—

 

 

$

—

 

 

$

—

 

Segment research and development (b) (c) (d)

 

(10,247

)

 

 

(37,842

)

 

 

(14,456

)

Segment general and administration (c) (d)

 

(7,789

)

 

 

(7,092

)

 

 

(9,369

)

Share-based compensation expense (see Note 14)

 

(376

)

 

 

(784

)

 

 

(4,758

)

Depreciation and amortization

 

(284

)

 

 

(1,750

)

 

 

(1,800

)

Operating loss

$

(18,696

)

 

$

(47,468

)

 

$

(30,383

)
a)
Amortization expense of $254 related to the Pfizer Intangible asset has been excluded for the year ended December 31, 2024 and included within depreciation and amortization.
b)
Amortization expense of $1,719 and $1,716 related to the ACSD intangible asset has been excluded for the years ended December 31, 2023 and 2022, respectively, and included within depreciation and amortization.
c)
Share-based payment expense of $193, $412 and $1,396 related to research and development and $170, $372 and $3,362 related to general and administration have been excluded for the years ended December 31, 2024, 2023 and 2022, respectively, and included within share-based compensation expense.
d)
Depreciation expense of $18, $19 and $49 related to research and development and $12, $12 and $35 related to general and administration have been excluded for the years ended December 31, 2024, 2023 and 2022, respectively, and included within depreciation and amortization.

Interest Expense, Net

 

Years Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Interest income

$

789

 

 

$

1,722

 

 

$

819

 

Interest expense

 

(3,311

)

 

 

(3,150

)

 

 

(3,180

)

Interest expense, net

$

(2,522

)

 

$

(1,428

)

 

$

(2,361

)

Long-Lived Assets

The distribution of long-lived assets by geographical area was as follows:

Long lived assets

 

December 31, 2024

 

 

December 31, 2023

 

Ireland

 

$

19,759

 

 

$

342

 

U.S.

 

 

15

 

 

 

287

 

Total

 

$

19,774

 

 

$

629