v3.25.1
Segment Information
3 Months Ended
Mar. 31, 2025
Segment Information  
Segment Information

Note 17. Segment Information

The Company views its operations and manages its business as one operating and reportable segment, utilizing artificial intelligence (“AI”) to develop transformative medicines in neuroscience and immuno-oncology. The Company is focused on utilizing cutting-edge technology and innovative research to develop high-value therapeutics aimed at transforming patients’ lives. The Company employs various AI platforms to reduce therapeutic development costs and potentially accelerate development timelines.

Consistent with the operational structure, the Chief Executive Officer, as the chief operating decision maker (“CODM”), reviews weekly cash usage and allocates resources based on consolidated net loss that also is reported on the consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM utilizes consolidated net loss by comparing actual results against budgeted amounts on a quarterly basis. As part of this process, consolidated net loss is a critical performance measure used to evaluate the Company’s operating performance and guide strategic decisions and resource allocations, including additional investments in research and development and commercialization activities.

Three months ended

    

    

2025

    

2024

Product revenue, net

$

168

$

582

Less:

Cost of goods sold

$

14

$

80

Research and development costs:

Personnel and related costs

$

1,682

$

3,630

Non-cash stock-based compensation

(514)

1,281

Professional fees

779

1,307

Clinical trials expense

2,018

4,068

Chemical, manufacturing and controls cost

175

549

Other expenses

414

566

Total research and development costs

$

4,554

$

11,401

Commercial costs:

Personnel and related costs

79

1,149

Non-cash stock-based compensation

268

Professional fees

38

71

Commercial and marketing

169

1,347

Travel related expenses

9

117

Other expenses

(88)

196

Total commercial costs

$

207

$

3,148

Selling, general and administrative costs:

 

 

Personnel and related costs

$

993

$

2,037

Non-cash stock-based compensation

 

694

1,884

Professional fees

 

2,834

5,240

Travel related expenses

116

247

Other expenses

 

855

708

Total selling, general and administrative costs

$

5,492

$

10,116

Total operating expenses

$

10,267

$

24,745

Other (income) expense

 

  

 

  

Interest expense

 

3,993

 

3,607

Interest income

(279)

(947)

Other (income) expense, net

(6,559)

(32)

Segment net loss

$

(7,254)

$

(26,791)

Adjustments and reconciling items

Consolidated Net Loss

$

(7,254)

$

(26,791)