v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in and reports as a single reportable segment, focused on the development of innovative ophthalmic pharmaceutical products.

Our Chief Operating Decision Maker "CODM" is our President and Chief Executive Officer. The CODM does not evaluate profitability nor evaluate performance or allocate resources below the level of the consolidated Company. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM reviews operating expenses and net loss presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. These metrics serve as benchmarks to evaluate the business, measure performance, identify trends, prepare financial projections, and make strategic decisions. The CODM does not evaluate performance or allocate resources based on segment assets data; therefore, total segment assets are not presented.

The following table presents the revenue, significant expenses, and net loss for the Company’s single reportable segment:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Significant and Other Segment Expenses
General and Administrative$1,383,504 $1,353,850 2,995,771 2,843,248 
Research and Development
KIO-101— 3,780 — 6,795 
KIO-1041267,155 426,347 554,164 277,022 
KIO-3011,748,759 2,125,633 3,308,866 4,227,484 
Unallocated R&D Expenses261,202 34,729 337,811 611,076 
Total Research & Development2,077,116 2,590,489 4,200,841 5,122,377 
KIO-301 Collaboration Credit(1,336,263)(1,685,917)(2,569,487)(3,652,040)
Change in Fair Value of Contingent Consideration89,414 137,774 96,841 412,966 
Interest Income, Net(146,232)(225,237)(285,570)(397,703)
Other Segment Expenses310,672 93,556 57,798 5,642 
Income Tax Provision800 (112,057)800 10,949 
Net Loss$(2,079,011)$(2,152,459)$(4,496,994)$(4,345,439)
1 Net of research tax credit offset.
2 Unallocated research and development expenses primarily include personnel costs, research consulting and scientific advisory expenses.
3 Other segment expenses primarily include interest expense, other income, net, and loss on disposal of fixed assets.