v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 14 – 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. 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)   2025     2024  
   

For the Years Ended

December 31,

  
(In thousands)   2025     2024  
Research and Development:                
Employee expense   $ 5,339     $ 4,984  
Clinical     3,216       5,345  
Product     840       1,147  
Other     586       773  
Total research and development     9,981       12,249  
Selling, general and administrative expense                
Employee expense     6,147       6,285  
Professional fees     1,558       2,451  
Occupancy     597       626  
Insurance     610       655  
Other     2,006       1,560  
Total selling, general and administrative expense     10,918       11,577  
Loss from operations     20,899       23,826  
Adjustments and reconciling items     (1,427 )     (2,007 )
Net loss   $ 19,472     $ 21,819  

 

Adjustments and reconciling items in the above table consist of interest income and realized and unrealized gains and losses related to our investments in U.S. Treasury securities.