| Schedule of Drug Development Segment and Reconciliation to Consolidated Net Income (Loss) Segment Operations |
The table below provides information about the Company's drug development segment and includes the reconciliation to consolidated net income (loss) for the three and six months ended June 30, 2026 and 2025, respectively (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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|
2025 |
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Revenue |
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$ |
235 |
|
|
$ |
1,364 |
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|
$ |
235 |
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|
$ |
1,620 |
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Less: |
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Clinical expense |
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|
2,019 |
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|
|
2,506 |
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|
|
4,036 |
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|
|
4,217 |
|
Preclinical expense |
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|
189 |
|
|
|
1,032 |
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|
|
434 |
|
|
|
1,969 |
|
Chemistry, manufacturing, and controls |
|
|
138 |
|
|
|
1,771 |
|
|
|
692 |
|
|
|
2,273 |
|
IPR&D expense (Note 10) |
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— |
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|
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— |
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8,000 |
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|
|
— |
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Selling, general, and administrative |
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4,119 |
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|
3,784 |
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|
|
8,707 |
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|
|
7,528 |
|
Interest expense |
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— |
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— |
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— |
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173 |
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Plus: |
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Interest income |
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(685 |
) |
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(510 |
) |
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(1,168 |
) |
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|
(1,305 |
) |
Other segment expense (income) (1) |
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|
(12,942 |
) |
|
|
(334 |
) |
|
|
(6,564 |
) |
|
|
(959 |
) |
Segment net income (loss) |
|
|
7,397 |
|
|
|
(6,885 |
) |
|
|
(13,902 |
) |
|
|
(12,276 |
) |
Reconciliation of segment net income (loss) |
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Adjustments and reconciling items |
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— |
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— |
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— |
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— |
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Consolidated net income (loss) |
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$ |
7,397 |
|
|
$ |
(6,885 |
) |
|
$ |
(13,902 |
) |
|
$ |
(12,276 |
) |
(1) Other segment expense (income) includes other research and development expense, amortization of debt issuance costs and discount, other income, and the warrant liabilities fair value adjustment.
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