MetaVia Inc. Segments Disclosure
8.Significant segment expenses and loss before income taxes
The following table sets forth the significant segment expenses for our one reportable segment (in thousands) that are regularly provided to our CODM:
Year Ended December 31, | ||||||
2025 | 2024 | |||||
Operating expenses | | | ||||
Research and development | ||||||
Direct expenses | ||||||
Vanoglipel (DA-1241) credits (costs) (1) | $ | (845) | $ | 9,959 | ||
DA-1726 costs | 5,468 | 9,397 | ||||
Other R&D costs (2) | 107 | 303 | ||||
Indirect expenses | ||||||
Employee compensation and benefits costs | 1,653 | 1,606 | ||||
Consulting expenses | 419 | 288 | ||||
Total research and development | 6,802 | 21,553 | ||||
General and administrative | ||||||
Legal and professional fees | 3,338 | 2,864 | ||||
Consulting expenses | 823 | 1,512 | ||||
Employee compensation and benefits costs | 1,797 | 1,659 | ||||
Other expenses (3) | 948 | 1,221 | ||||
Total general and administrative | 6,906 | 7,256 | ||||
Total operating expenses | 13,708 | 28,809 | ||||
Loss from operations | (13,708) | (28,809) | ||||
Total other income | 735 | 1,217 | ||||
Loss before income taxes | $ | (12,973) | $ | (27,592) | ||
| (1) | Includes a credit of $1.2 million recorded in 2025 in connection with the close-out of the clinical trial with the clinical research organization. |
| (2) | Includes clinical, non-clinical and preclinical services or other R&D expenses that are not attributable to a single product candidate. |
| (3) | Includes all other general and administrative expenses, such as insurance, software license fees, non-income state taxes, lease rental expenses, etc. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 26, 2026 | Showing above |
| 2024 | Mar 20, 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.