LeonaBio, Inc. Segments Disclosure
7. Segment Reporting
The Company operates as a operating segment, which is the business of developing and commercializing therapeutics. The Company’s chief operating decision maker ("CODM"), its , reviews financial information on an aggregate basis for the purpose of allocating resources and assessing performance. When deciding how to allocate resources, the CODM reviews the financial results of the Company's drug candidate programs. The measure of segment assets is reported on the consolidated balance sheet as total assets.
The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Research and development expenses: |
|
|
|
|
|
|
||
Acquired in-process research and development |
|
$ |
68,088 |
|
|
$ |
— |
|
Lasofoxifene |
|
|
3,568 |
|
|
|
— |
|
Fosgonimeton (ATH-1017) |
|
|
2,335 |
|
|
|
41,510 |
|
ATH-1105 |
|
|
3,415 |
|
|
|
8,567 |
|
ATH-1020 |
|
|
5 |
|
|
|
495 |
|
Preclinical programs and other costs |
|
|
1,251 |
|
|
|
3,390 |
|
Personnel-related costs, excluding stock- |
|
|
4,221 |
|
|
|
12,289 |
|
Total research and development expenses |
|
|
82,883 |
|
|
|
66,251 |
|
General and administrative expenses |
|
|
12,309 |
|
|
|
22,631 |
|
Other segment expenses(a) |
|
|
7,074 |
|
|
|
12,020 |
|
Total operating expenses |
|
|
102,266 |
|
|
|
100,902 |
|
Loss from operations |
|
|
(102,266 |
) |
|
|
(100,902 |
) |
Other income, net |
|
|
1,236 |
|
|
|
3,962 |
|
Sermonix pre-funded warrant change in fair value |
|
|
(4,579 |
) |
|
|
— |
|
Net loss |
|
$ |
(105,609 |
) |
|
$ |
(96,940 |
) |
(a)Other segment expenses includes stock-based compensation and depreciation expenses.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
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.