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

Note 19. 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. We are focused on utilizing cutting-edge technology and innovative research to develop high-value therapeutics aimed at transforming patients’ lives. We employ 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.

The following table provides information about the Company’s one reportable segment and includes the reconciliation to consolidated net loss.

Year ended

December 31, 

  ​ ​ ​

  ​ ​ ​

2025

  ​ ​ ​

2024

Product revenue, net

$

642

$

2,266

Less:

Cost of goods sold

$

164

$

2,143

Research and development costs:

Personnel and related costs

$

7,196

$

9,796

Non-cash stock-based compensation

426

2,251

Professional fees

4,004

5,067

Clinical trials expense

15,433

9,384

Chemical, manufacturing and controls cost

1,807

1,927

Other expenses

1,385

2,010

Total research and development costs

$

30,251

$

30,435

Commercial costs:

Personnel and related costs

369

2,516

Non-cash stock-based compensation

(401)

Professional fees

188

554

Commercial and marketing

407

1,389

Travel related expenses

28

309

Other expenses

(98)

906

Total commercial costs

$

894

$

5,273

Selling, general and administrative costs:

 

 

Personnel and related costs

$

3,547

$

5,340

Non-cash stock-based compensation

 

2,341

4,306

Professional fees

 

10,120

15,583

Travel related expenses

489

446

Other expenses

 

3,103

3,544

Total selling, general and administrative costs

$

19,600

$

29,219

Restructuring costs

194

2,441

Total operating expenses

$

51,103

$

69,511

Other (income) expense

 

  ​

 

  ​

Interest expense

 

16,984

 

15,129

Interest income

(1,066)

(2,602)

Other (income) expense, net

3,518

(20,173)

Segment net loss

$

(69,897)

$

(59,599)

Adjustments and reconciling items

Consolidated Net Loss

$

(69,897)

$

(59,599)