| SCHEDULE OF SIGNIFICANT EXPENSE CATEGORIES |
The
table below summarizes the significant expense categories regularly provided to the CODM for the years ended December 31, 2025, and 2024:
SCHEDULE
OF SIGNIFICANT EXPENSE CATEGORIES
| | |
2025 | | |
2024 | |
| | |
For
the year ended December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Revenues: | |
| | | |
| | |
| Product
revenue, net | |
$ | 2,420 | | |
$ | — | |
| License
and other revenues | |
| 3,400 | | |
| — | |
| Total
revenues | |
| 5,820 | | |
| — | |
| | |
| | | |
| | |
| Cost
of sales | |
| 1,532 | | |
| — | |
| Royalties | |
| 1,893 | | |
| — | |
| | |
| | | |
| | |
| Research
and development costs: | |
| | | |
| | |
| Salaries
& related costs | |
| 10,247 | | |
| 15,345 | |
| Non-cash
stock-based compensation | |
| 1,355 | | |
| 1,561 | |
| Other
research and development costs (a) | |
| 15,210 | | |
| 17,454 | |
| Total
research and development costs | |
| 26,812 | | |
| 34,360 | |
| | |
| | | |
| | |
| Selling,
general and administrative costs: | |
| | | |
| | |
| Salaries
& related costs | |
| 24,978 | | |
| 10,729 | |
| Non-cash
stock-based compensation | |
| 9,424 | | |
| 5,067 | |
| Commercial
costs | |
| 7,159 | | |
| 4,818 | |
| Other
selling, general and administrative costs (b) | |
| 23,470 | | |
| 9,237 | |
| Total
selling, general and administrative costs | |
| 65,031 | | |
| 29,851 | |
| | |
| | | |
| | |
| Other
segment items, net (c) | |
| 160,631 | | |
| 477 | |
| Net
income (loss) | |
$ | 71,183 | | |
$ | (63,734 | ) |
| (a) |
Other
research and development costs include, but are not limited to preclinical lab supplies, preclinical and development costs, clinical
trial costs, preclinical manufacturing and manufacturing facility costs, costs associated with preclinical regulatory approvals,
preclinical depreciation on lab supplies and manufacturing facilities, and preclinical consultant-related expenses. |
| (b) |
Other
selling, general and administrative costs primarily consist of office facility costs, public reporting company related costs, professional
fees (e.g., legal expenses), regulatory costs, production costs not attributable to cost of sales and other general operating expenses
not otherwise included in research and development expenses. |
| (c) |
Other
segment items include interest income, interest expense, change in fair value of warrant and derivative liabilities, gain on sale
of priority review voucher, other income, net and income tax (benefit) expense. |
|