v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

6. Segment Information

Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision maker (“CODM”), which is the Company’s Chief Executive Officer, in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information including budget-versus-actual results and cash projections on an aggregate basis when assessing performance for allocating financial and personnel resources. The Company is not organized by market and is managed and operated as one business.

The Company identifies its operating segments based on its business activities. The Company operates within a single operating segment being the development and commercialization of pharmaceutical products. The development and commercialization of pharmaceutical products segment generates revenues in the United States. The Company’s administrative functions including finance, business development and procurement, support the development and commercialization of pharmaceutical products segment. The Company operates primarily in one geographic area, being the United States. The CODM allocates resources (inclusive of both capital and personnel) based upon the Company’s net loss, which is utilized to monitor budget-to-actual variances on a monthly basis.

The accounting policies of the development and commercialization of pharmaceutical products segment are the same as those described in Note 2. Summary of Significant Accounting Policies. All Company assets are in the United States. The measure of segment assets is reported on the balance sheets as total assets. The Company does not have intra-entity sales or transfers.

The Company has no transactions denominated in foreign currencies nor any tangible or intangible property for which it recognizes depreciation or amortization and depreciating assets are not part of the CODMs evaluation or decision-making process.

The following table summarizes the Company’s financial data for its development and commercialization of pharmaceutical products segment:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

Net product sales

 

$

3,752,142

 

 

$

2,551,366

 

 

$

6,832,300

 

 

$

4,286,856

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

(167,679

)

 

 

(41,478

)

 

 

(209,292

)

 

 

(134,007

)

 

Eversana profit sharing

 

 

(3,188,997

)

 

 

(2,168,661

)

 

 

(5,807,132

)

 

 

(3,643,922

)

 

Employee expenses

 

 

(631,795

)

 

 

(561,171

)

 

 

(1,269,894

)

 

 

(1,257,973

)

 

Professional fees

 

 

(927,215

)

 

 

(624,038

)

 

 

(1,631,844

)

 

 

(1,127,755

)

 

Stock-based compensation

 

 

(104,253

)

 

 

(126,578

)

 

 

(188,637

)

 

 

(380,607

)

 

Sales and marketing expenses

 

 

(172,885

)

 

 

(203,294

)

 

 

(361,553

)

 

 

(367,091

)

 

Other operating expenses(1)

 

 

(118,170

)

 

 

(49,708

)

 

 

(224,543

)

 

 

(100,283

)

 

Interest income

 

 

112,534

 

 

 

81,001

 

 

 

231,386

 

 

 

127,059

 

 

Interest expense (non-cash)

 

 

(124,658

)

 

 

(124,657

)

 

 

(247,945

)

 

 

(249,315

)

 

Total segment costs loss and net loss

 

$

(1,570,976

)

 

$

(1,267,218

)

 

$

(2,877,154

)

 

$

(2,847,038

)

 

________________

(1) Includes ongoing product development costs, occupancy costs (including rent and utilities), administrative costs, travel and business taxes.