LISATA THERAPEUTICS, INC.LSTA

LISATA THERAPEUTICS, INC. Segments Disclosure

10-KFiled Mar 12, 20262 min read
Segment Information
The Company operates as one operating segment, the research and development of its investigational drug product. The Company used the management approach to determine its reportable operating segment. The Company's Chief Operating Decision Maker ("CODM") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The Company is a clinical-stage pharmaceutical company and has limited revenue associated with license and collaboration agreements. The CODM uses net loss as a measure of profit and loss, and assesses Company performance through the achievement of its clinical development goals. The CODM is regularly provided with budgeted and forecasted expense information which is used to determine the Company’s liquidity needs and cash allocation to its development programs. The CODM uses cash and marketable securities as a measure of segment assets in managing the enterprise.
The Company had revenue of $0.2 million during the year ended December 31, 2025, and $1.0 million during the year ended December 31, 2024 in connection with certain upfront license fees in the current year and the Exclusive License and Collaboration Agreement with Kuva Labs, Inc in the prior year (Note 17) who is based in the United States. Depreciation and amortization expense was $0.1 million and $0.2 million for the years ended December 31, 2025, and 2024, respectively. Equity method investment expense was $0.1 million for the year ended December 31, 2024. There was no equity method investment expense for the year ended December 31, 2025.
The following table illustrates our segment information for significant operating expenses and includes a reconciliation to net loss for the years ended December 31, 2025 and 2024:

 Year Ended December 31,
 20252024
Revenue$170 $1,000 
Operating Expenses:
Research and development by significant expense:
  BOLSTER trial2,540 3,581 
  ASCEND trial41 754 
  Chemistry, manufacturing and controls1,050 2,035 
  Clinical department2,999 4,304 
  Other (1)
1,319 660 
Research and development7,949 11,334 
General and administrative by significant expense:
  Corporate3,026 3,693 
  Investor relations/public relations/communications1,141 1,332 
  Finance2,002 2,265 
  Legal919 1,284 
  Business development422 582 
  Share based compensation expense999 1,383 
  Other (2)
1,921 1,536 
General and administrative10,430 12,075 
Operating loss(18,209)(22,409)
Other income (expense),net661 1,626 
Benefit from income taxes(962)(798)
Net loss$(16,586)$(19,985)
Cash and marketable securities$15,956 $31,245 
 (1) Included in other are GBM study, FORTIFIDE study and research
     oncology expenses
 (2) Included in other are facilities expense, human resource,
     information technology expenses, allowance for credit losses and
     impairment of non-financial asset

Historical Timeline

Fiscal YearFiled
2025Mar 12, 2026Showing above
2024Feb 27, 2025
2016Mar 17, 2017

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.

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