| Summary of Financial Data for Development of Pharmaceutical Products Segments |
The following tables summarize our financial data for our segments (in thousands):
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For the Three Months Ended March 31, 2026 |
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Digital Asset Treasury Strategy |
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Development of Pharmaceutical Products |
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Total Segment Costs |
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Corporate Expenses |
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Consolidated |
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Operating and other (income) expense |
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Employee expenses |
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$ |
212 |
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$ |
11 |
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$ |
223 |
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$ |
325 |
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$ |
548 |
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Other segment expenses(1) |
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19 |
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|
7 |
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|
26 |
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|
812 |
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|
838 |
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Professional fees |
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|
122 |
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|
— |
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|
122 |
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|
287 |
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|
409 |
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Legal fees |
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|
— |
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|
181 |
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|
181 |
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|
102 |
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|
283 |
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voruciclib |
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— |
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12 |
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12 |
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— |
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|
12 |
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Asset management fee and advisory fees |
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|
675 |
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— |
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|
675 |
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— |
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|
675 |
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Change in fair value of digital assets |
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18,845 |
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— |
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18,845 |
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— |
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18,845 |
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Change in fair value of digital assets
receivable, net |
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2,330 |
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— |
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|
2,330 |
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— |
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|
2,330 |
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Gain on derivative liabilities |
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(192 |
) |
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— |
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(192 |
) |
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— |
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(192 |
) |
Interest and dividend income(2) |
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— |
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— |
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— |
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(54 |
) |
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(54 |
) |
Total operating and other (income)
expense |
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22,011 |
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211 |
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22,222 |
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|
1,472 |
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|
23,694 |
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Total segment costs loss and net loss |
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$ |
(22,011 |
) |
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$ |
(211 |
) |
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$ |
(22,222 |
) |
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$ |
(1,472 |
) |
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$ |
(23,694 |
) |
___________ (1) Includes product development costs associated with zandelisib determined to be immaterial for both periods presented, share-based compensation costs, administrative costs, travel and business taxes. (2) Interest and dividend income are solely attributable to our cash and cash equivalents.
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For the Three Months Ended March 31, 2025 |
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Development of Pharmaceutical Products
and Total Segment Costs |
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Corporate Expenses |
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Consolidated |
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Operating and other (income) expense |
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Employee expenses |
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$ |
236 |
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$ |
1,349 |
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$ |
1,585 |
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Other segment expenses(1) |
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|
125 |
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|
423 |
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|
548 |
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Professional fees |
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|
4 |
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|
303 |
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|
307 |
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Legal fees |
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|
105 |
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|
226 |
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|
331 |
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voruciclib |
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|
4 |
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— |
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|
4 |
|
Interest and dividend income(2) |
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— |
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(202 |
) |
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|
(202 |
) |
Total operating and other (income)
expense |
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|
474 |
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|
2,099 |
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|
2,573 |
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Total segment costs loss and net loss |
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$ |
(474 |
) |
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$ |
(2,099 |
) |
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$ |
(2,573 |
) |
___________ (1) Includes product development costs associated with zandelisib determined to be immaterial for both periods presented, share-based compensation costs, depreciation expense, administrative costs, travel and business taxes. (2) Interest and dividend income are solely attributable to our cash and cash equivalents.
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For the Nine Months Ended March 31, 2026 |
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|
Digital Asset Treasury Strategy |
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Development of Pharmaceutical Products |
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Total Segment Costs |
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Corporate Expenses |
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Consolidated |
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Operating and other (income) expense |
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|
|
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|
|
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|
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Employee expenses |
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$ |
588 |
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$ |
34 |
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$ |
622 |
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$ |
1,004 |
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$ |
1,626 |
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Other segment expenses(1) |
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|
52 |
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|
12 |
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|
64 |
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|
2,461 |
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|
2,525 |
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Professional fees |
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|
563 |
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|
2 |
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|
565 |
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|
1,343 |
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|
|
1,908 |
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Legal fees |
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|
112 |
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|
547 |
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|
659 |
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|
630 |
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|
1,289 |
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voruciclib |
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— |
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|
38 |
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|
38 |
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|
38 |
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Asset management fee and advisory fees |
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|
1,838 |
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— |
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|
1,838 |
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— |
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|
1,838 |
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Change in fair value of digital assets |
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|
45,992 |
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— |
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|
45,992 |
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— |
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|
45,992 |
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Change in fair value of digital assets
receivable, net |
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|
3,863 |
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— |
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|
3,863 |
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— |
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|
3,863 |
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Gain on derivative liabilities |
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|
(733 |
) |
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— |
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|
(733 |
) |
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— |
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|
(733 |
) |
Interest and dividend income(2) |
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|
— |
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— |
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— |
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(214 |
) |
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(214 |
) |
Total operating and other (income)
expense |
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52,275 |
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|
633 |
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52,908 |
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|
5,224 |
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|
58,132 |
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Total segment costs loss and net loss |
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$ |
(52,275 |
) |
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$ |
(633 |
) |
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$ |
(52,908 |
) |
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$ |
(5,224 |
) |
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$ |
(58,132 |
) |
________ (1) Includes product development costs associated with zandelisib determined to be immaterial for both periods presented, share-based compensation costs, administrative costs, travel and business taxes. (2) Interest and dividend income are solely attributable to our cash and cash equivalents.
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For the Nine Months Ended March 31, 2025 |
|
|
|
Development of Pharmaceutical Products
and Total Segment Costs |
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|
Corporate Expenses |
|
|
Consolidated |
|
Operating and other (income) expense |
|
|
|
|
|
|
|
|
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Employee expenses |
|
$ |
2,602 |
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$ |
5,982 |
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|
$ |
8,584 |
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Other segment expenses(1) |
|
|
158 |
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|
2,061 |
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|
|
2,219 |
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Professional fees |
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|
25 |
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|
1,193 |
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|
1,218 |
|
Legal fees |
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|
514 |
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|
|
1,003 |
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|
|
1,517 |
|
voruciclib |
|
|
802 |
|
|
|
— |
|
|
|
802 |
|
ME-344 |
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|
253 |
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|
— |
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|
|
253 |
|
Gain on disposition of nonfinancial asset |
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|
— |
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|
(500 |
) |
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|
(500 |
) |
Interest and dividend income(2) |
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|
— |
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|
|
(836 |
) |
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|
(836 |
) |
Total operating and other (income)
expense |
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|
4,354 |
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|
8,903 |
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|
13,257 |
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Total segment costs loss and net loss |
|
$ |
(4,354 |
) |
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$ |
(8,903 |
) |
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$ |
(13,257 |
) |
________ (1) Includes product development costs associated with zandelisib determined to be immaterial for both periods presented, occupancy costs (including rent and utilities), share-based compensation costs, depreciation expense, administrative costs, travel and business taxes. (2) Interest and dividend income are solely attributable to our cash and cash equivalents.
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March 31, 2026 |
|
|
|
Digital Asset Treasury Strategy |
|
|
Development of Pharmaceutical Products |
|
|
Total Segment Assets |
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|
Corporate Assets |
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Consolidated |
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Current assets: |
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Cash and cash equivalent |
|
$ |
— |
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|
$ |
— |
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$ |
— |
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|
$ |
7,544 |
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$ |
7,544 |
|
Digital assets |
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|
2,084 |
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— |
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|
2,084 |
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— |
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|
2,084 |
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Prepaid expenses and other current assets |
|
|
606 |
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|
31 |
|
|
|
637 |
|
|
|
710 |
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|
1,347 |
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Total current assets |
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|
2,690 |
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|
31 |
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|
2,721 |
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|
8,254 |
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|
10,975 |
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Digital assets, net of current portion |
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|
38,237 |
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— |
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|
38,237 |
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|
— |
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|
|
38,237 |
|
Digital assets receivable, net |
|
|
7,899 |
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|
— |
|
|
|
7,899 |
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|
|
— |
|
|
|
7,899 |
|
Other long-term assets |
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|
— |
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|
|
— |
|
|
|
— |
|
|
|
678 |
|
|
|
678 |
|
Total assets |
|
$ |
48,826 |
|
|
$ |
31 |
|
|
$ |
48,857 |
|
|
$ |
8,932 |
|
|
$ |
57,789 |
|
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|
|
|
|
|
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June 30, 2025 |
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|
Development of Pharmaceutical Products
and Total Segment Assets |
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|
Corporate Assets |
|
|
Consolidated |
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalent |
|
$ |
— |
|
|
$ |
18,011 |
|
|
$ |
18,011 |
|
Prepaid expenses and other current assets |
|
|
25 |
|
|
|
249 |
|
|
|
274 |
|
Total current assets |
|
|
25 |
|
|
|
18,260 |
|
|
|
18,285 |
|
Total assets |
|
$ |
25 |
|
|
$ |
18,260 |
|
|
$ |
18,285 |
|
|