v3.26.1
Note 20 - Segment Reporting
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

Note 20 – Segment Reporting

 

The Company is engaged in the development and commercialization of innovative solutions for the treatment of urothelial and specialty cancers. The Company has a single operating segment and reportable segment focused on these business activities, and its operations are managed on a consolidated basis. The primary revenue source for the segment comes from sales of the Company’s approved products, Jelmyto and Zusduri, primarily conducted in the United States.

 

The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer (“CEO”). The CODM assesses performance and allocates resources based on net income or loss, which is the primary measure of performance, as reported in the condensed consolidated statements of operations and comprehensive loss. Additionally, net income or loss is used to monitor performance relative to budgeted targets and to evaluate financial performance in relation to the Company’s strategic goals. For additional information, refer to the condensed consolidated statements of operations and comprehensive loss for detailed measures of segment revenues, expenses, and profit or loss.

 

Information about significant segment expenses regularly provided to the CODM is as follows (in thousands):

 

  

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Research and development expenses

                

R&D project materials & services

 $11,446  $13,318  $21,151  $24,710 

Acquisitions of IPR&D

  —   —   —   3,128 

Employee compensation

  4,767   4,744   9,511   9,125 

Rent, office, utilities & technology

  865   734   1,800   1,590 

Other expenses

  258   118   471   232 

Total research and development expenses

 $17,336  $18,914  $32,933  $38,785 
                 

Selling, general and administrative expenses

                

Employee compensation

 $25,380  $19,563  $51,488  $37,691 

Commercial & medical affairs services

  11,667   10,873   21,603   19,071 

Professional services

  3,687   3,576   11,212   6,348 

Travel, meetings & conferences

  3,838   5,629   8,900   9,274 

Rent, office, utilities & technology

  1,510   1,193   3,034   2,328 

Other expenses (1)

  2,355   2,365   3,686   3,454 

Total selling, general and administrative expenses

 $48,437  $43,199  $99,923  $78,166 

 

(1) Other expenses primarily consist of insurance, publications, sponsorships, grants, other fees and taxes.