v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 10 - SEGMENT REPORTING

 

The Company determined its reporting units in accordance with ASC 280, Segment Reporting. Reportable operating segments are determined based on the management approach, as defined by ASC 280, and is based on the way that the chief operating decision-maker (CODM) organizes segments within the Company for making operating decisions, assessing performance, and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates the Company.

 

Management determined the Company’s operations constitute a single reportable segment in accordance with ASC 280: clinical stage drug development. The Company derives all of its losses from the development of clinical stage drugs expenses. The Company’s CODM is its chief executive officer and chief financial officer. The CODM assesses performance and makes operating decisions about allocating resources based on the research and development operating expenses on the Consolidated Statements of Operations. The CODM does not review assets in evaluating the results of the clinical stage development, and therefore, such information is not presented.

 

The following table provides the operating expenses of our clinical stage drug development segment (rounded to the nearest $00):

 

   March 31,   March 31, 
   2026   2025 
Clinical Study Expense  $1,471,100   $7,960,600 
Other Research Expense   1,118,400    1,831,000 
Manufacturing and Drug Storage Expense   2,784,200    155,600 
Compensation Expense   1,674,500    933,500 
Stock-based Compensation Expense   1,039,600    1,070,300 
Total Research and Development Expense  $8,087,800   $11,951,000