v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 11 – Segment Reporting

 

The Company has determined that it currently operates in a single segment, Medical Device development, located in a single geographic location, the United States. The accounting policies of the segment are the same as those described in the summary of significant accounting policies set forth in our Form 10-K/A, filed with the SEC on February 28, 2025. Since the Company operates in a single segment, the measure of segment total assets and loss from operations is the same as that reported on the accompanying balance sheets as total assets, and the accompanying statement of operations as loss from operations, respectively.

 

The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The CODM uses operating expenses to measure performance against progress in its clinical trials and its product development. The following table sets forth segment expenses.

(In thousands)  2023   2024 
   March 31, 
(In thousands)  2025   2024 
Research and Development:          
Employee expense  $1,369   $1,153 
Clinical   872    1,459 
Product   146    303 
Other   170    137 
Total research and development   2,557    3,052 
Selling, general and administrative expense          
Employee expense  $1,234    1,463 
Professional fees   580    415 
Occupancy   164    153 
Insurance   163    165 
Other   256    255 
Total selling, general and administrative expense   2,397    2,451 
Loss from Operations   4,954    5,503 
           
Adjustments and reconciling Items   (451)   (511)
Net Loss  $4,503   $4,992 

 

Adjustments and reconciling items between loss from operations and net loss consist of interest income and realized and unrealized gains and losses related to our investments in US Treasury securities.