v3.26.1
Note 14 - Segment Reporting and Geographic Information
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

14.

Segment reporting and geographic information

 

The Company operates in two reportable segments: (i) Plinabulin pipeline and (ii) TPD platform.

 

On December 13, 2024, the Company’s Board of Directors discussed and approved a divestiture plan to sell and transfer about 90% to 100% of the Company’s interests in SEED to potential investors at a determined price. The TPD platform segment was comprised of SEED’s operations. As a result, the TPD platform segment qualified for discontinued operations reporting. See Note 3 – Discontinued operations.

 

The Company presents segment information after elimination of inter-company transactions. In general, revenues and operating expenses are directly attributable, or are allocated, to each segment. The Company allocates operating expenses that are not directly attributable to a specific segment, such as those that support infrastructure across different segments, to different segments mainly on the basis of usage, headcount, depending on the nature of the relevant operating expenses.

 

The Company’s Chief Executive Officer, as the CODM, uses segment net loss to allocate resources for each segment and to assess the performance of each segment, primarily by monitoring actual results versus approved budgets. Significant segment expenses are presented in the table below. Other segment items include interest income, other income, net, and income tax expenses. The CODM does not evaluate the performance of segments using asset or liability information.

 

   

For three months ended March 31,

  
   

2025

    

2026

  
   

$

    

$

  
   

(unaudited)

    

(unaudited)

  

Clinical and pre-clinical expenses

     115       532  

Patent expenses

     166       139  

Personnel costs

     1,088       666  

Professional services

     956       639  

Other operational expenses

     285       256  

Other segment items

     (26 )     119  

Segment net loss

     2,584       2,351  

Reconciliation of net loss:

                

Net loss (income) from discontinued operations

     (3,754 )     4,323  

Consolidated net loss (income)

     (1,170 )     6,674  

 

The Company’s long-lived assets of continuing operations by geographic area are presented as follows:

 

   

As of

  
   

December 31, 2025

    

March 31, 2026

  
   

$

    

$

  

Property and equipment, net:

          

(unaudited)

  
                 

PRC

     11       10  

U.S.

     155       142  
                 

Total

     166       152