v3.26.1
Note 8 - Segment Information
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

8. Segment Information

 

The Company has one reportable segment and operates as a clinical stage biopharmaceutical company. To date, the Company has yet to generate operating revenues and does not expect to generate any revenue in the foreseeable future. The Company's chief operating decision maker (CODM) is the President and Chief Executive Officer (CEO). The accounting policies of the single segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the single segment and decides how to allocate resources based on net loss as reported on the condensed consolidated statements of operations. The CODM uses net loss to monitor budget versus actual results and to evaluate overall cash burn of the business.  All of the Company’s operations occur within the United States.

 

The following table presents selected financial information with respect to the Company's single operating segment (in thousands):

 

 

   

Three Months Ended

  

Six Months Ended

 
   

June 30,

  

June 30,

 
   

2026

  

2025

  

2026

  

2025

 

Research and development

                 
 

PH-762

 $2,508  $586  $4,655  $1,043 
 

PH-894

  17   105   35   162 
 

Employee expense, lab supplies and overhead

  557   383   1,184   755 
 

Total research and development

  3,082   1,074   5,874   1,960 

General and administrative

General and administrative

  1,186   1,235   2,561   2,221 
 

Total operating expenses

 $(4,268) $(2,309) $(8,435) $(4,181)

Other income, net

  130   143   294   246 

Net loss

 $(4,138) $(2,166) $(8,141) $(3,935)