v3.25.4
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company operates in one business segment, which includes the business of research and development activities related to developing medicine for obesity and metabolic diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews and evaluates consolidated net loss for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.
In addition to the significant expense categories included within consolidated net loss presented on the Company's Consolidated Statements of Operations, see below for disaggregated amounts that comprise research and development expenses which are presented to the Company's CODM for review:
Year Ended December 31,
2025
2024
External clinical development expenses (1)
SBI-100$10,511 $2,216,209 
nimacimab32,305,827 10,801,849 
Total external clinical development expenses32,316,338 13,018,058 
Personnel related and stock-based compensation5,928,398 3,995,558 
Other research and development expenses (2)
4,117,143 1,688,078 
Total research and development expenses$42,361,879 $18,701,694 
(1) External clinical development expenses include expenses for clinical trial costs and clinical manufacturing, as well as costs for discovery in research and development studies.
(2) Other research and development expenses include expenses for travel and entertainment, consulting and advisory and general business expenses.
The amount of property and equipment in the US was equal to $55,488, and $83,276 for December 31, 2025 and December 31, 2024, respectively. The amount of property and equipment outside of the US was equal to $843,442, and $1,349,476 for December 31, 2025 and December 31, 2024, respectively.