v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 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 for the three and six months ended June 30, 2026 and 2025 (rounded to the nearest $00):

 

    Three months ended
June 30,		     Six months ended
June 30,		  
    2026     2025     2026     2025  
Clinical Study Expense   $ 3,482,900     $ 779,600     $ 4,954,000     $ 8,740,200  
Other Research Expense     842,100       702,200       1,960,500       2,533,200  
Manufacturing and Drug Storage Expense     2,652,500       81,600       5,436,700       237,200  
Compensation Expense     836,300       1,062,700       2,510,800       1,996,100  
Stock-based Compensation Expense     580,000       193,300       1,619,600       1,263,700  
Total Research and Development Expense   $ 8,393,800     $ 2,819,400     $ 16,481,600     $ 14,770,400