Eledon Pharmaceuticals, Inc. Segments Disclosure
Note 10. Segment Reporting
The Company currently operates and manages its business as one reportable segment, to develop therapies to protect transplanted organs and prevent rejection. The Company's chief operating decision maker (the “CODM”), is the . The financial results of the Company's operations are managed and reported to the CODM. Managing and allocating resources on a consolidated basis enables the CODM to assess the overall level of resources available and how to best deploy these resources across functions.
As a reportable segment entity, the CODM assesses performance and allocates resources based on the Company's consolidated statements of operations. Significant segment expenses, as provided to the CODM, are presented as the following:
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|
Year Ended |
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|||||
|
|
2024 |
|
|
2023 |
|
||
|
|
|
|
|
|
|
||
Operating expenses: |
|
|
|
|
|
|
||
Tegoprubart - kidney transplantation programs |
|
$ |
27,452 |
|
|
$ |
11,940 |
|
Tegoprubart - other development programs |
|
|
306 |
|
|
|
3,186 |
|
Manufacturing |
|
|
12,448 |
|
|
|
8,048 |
|
Personnel-related |
|
|
10,706 |
|
|
|
8,351 |
|
Stock-based compensation |
|
|
13,122 |
|
|
|
6,545 |
|
General and administrative expense |
|
|
6,543 |
|
|
|
4,930 |
|
Total operating expenses |
|
|
70,577 |
|
|
|
43,000 |
|
Loss from operations |
|
|
(70,577 |
) |
|
|
(43,000 |
) |
Other income, net |
|
|
3,924 |
|
|
|
2,674 |
|
Change in fair value of warrant liabilities and fair value of financial instruments issued in excess of proceeds |
|
|
30,900 |
|
|
|
(76,211 |
) |
Provision for income taxes |
|
|
(431 |
) |
|
|
— |
|
Segment and net loss |
|
$ |
(36,184 |
) |
|
$ |
(116,537 |
) |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.