v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting

Note 12 – Segment Reporting

 

The Company manages its business activities on a consolidated basis and operates as a single operating segment: Biotechnology. The accounting policies of the Biotechnology segment are the same as those described in Note 2 – Summary of Significant Accounting Policies.

 

Our Chief Operating Decision Maker (“CODM”) is our Chief Executive Officer, Amir Heshmatpour. The CODM uses net loss, as reported on our consolidated statement of operations, in evaluating the performance of the biotechnology segment and determining how to allocate resources of the Company as a whole, including investing in our research and development programs and acquisition/licensing strategy. The CODM does not review assets in evaluating the results of the biotechnology segment, and therefore, such information is not presented. The following supplemental information, which is regularly provided to the CODM, breaks down the research and development costs for the three and six months ended June 30, 2026 and 2025, respectively.

 

               
    For the
Six Months Ended
June 30,		  
    2026     2025  
Revenue   $ -     $ 39,990  
                 
Less: Significant and other segment expenses:                
NEO100     1,881,023       688,628  
NEO100-02     409,338       201,787  
NEO212     861,334       455,629  
NEO216     75,336       -  
Pediatric     167,009       99,010  
Laboratory     470,930       192,377  
Other     71,039       38,123  
Total research and development expense     3,936,009       1,675,554  
                 
Advisory fees – related parties     4,946,575       11,737,806  
Legal and professional     2,474,387       1,477,909  
Employee compensation expenses     458,025       334,160  
Amortization of debt issuance     360,116       360,200  
Investor relations     104,322       771,073  
Stock based compensation     8,384,311       20,923,850  
Other general and administrative expense     821,920       728,514  
Interest expense     1,216,994       357,672  
Loss on change in fair value of derivative liability related to Series A preferred stock     61,321       -  
Gain on change in fair value of derivative liability     (2,801 )     -  
Other expense     834,228       (240,138 )
Interest and other income     (535,431 )     (80,424 )
Net loss   $ (23,059,976 )   $ (38,006,186 )

 

                 
    For the
Three Months Ended
June 30,		  
    2026     2025  
Revenue   $ -     $ -  
                 
Less: Significant and other segment expenses:                
NEO100     998,369       109,166  
NEO100-02     304,244       93,326  
NEO212     592,757       279,074  
NEO216     75,336       -  
Pediatric     147,273       50,178  
Laboratory     460,655       107,465  
Other     71,039       38,123  
Total research and development expense     2,649,673       677,332  
                 
Advisory fees – related parties     3,586,575       -  
Legal and professional     1,286,167       520,364  
Employee compensation expenses     268,797       163,887  
Amortization of debt issuance     167,951       192,249  
Investor relations     56,810       226,766  
Stock based compensation     5,651,913       3,526,076  
Other general and administrative expense     569,952       593,609  
Interest expense     234,370       48,750  
Loss on change in fair value of derivative liability related to Series A preferred stock     61,321       -  
Other expense     189,627       (240,138 )
Interest and other income     (483,112 )     (28,725 )
Net loss   $ (14,240,044 )   $ (5,680,170 )