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

Note 11: Segment Reporting

 

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses expected research and development study and material costs; cash, cash equivalents and marketable securities balances; operating losses; and budget projections to assess financial performance and allocate resources.

 

Cash, cash equivalents and marketable securities were as follows at December 31, 2025 and 2024:

 

   2025   2024 
Cash  $2,883,305   $891,603 
Cash equivalents   1,539,533    6,619,476 
Marketable securities   5,696,386    16,501,984 

 

Research and development study and material costs were as follows during the years ended December 31, 2025 and 2024:

 

   2025   2024 
Research and development studies  $7,111,026   $11,083,607 
Research and development materials   255,024    316,435 
Research and development costs  $7,366,050   $11,400,042 

 

These financial metrics are used by the CODM to make key operating decisions, such as which research and development studies to commence, extend or discontinue. See the consolidated balance sheets and statements of operations as of and for the years ended December 31, 2025 and 2024.