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

7. Segment Information

 

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”), in deciding how to allocate resources and in assessing performance. The Company and the Company’s chief operating decision maker view the Company’s operations and manage its business in one operating segment, which is the business of developing, branding, marketing, and commercializing direct to consumer skincare products.

 

The CODM, who is the Chief Executive Officer (“CEO”), President, and Chairman of the Board, manages and allocates resources to the operations of the Company on an entity-wide basis. The Company’s measure of segment profit or loss is net loss. Managing and allocating resources on an entity-wide basis enables the CEO to assess the overall level of resources available and how to best deploy these resources across functions that are in line with the Company’s long-term company-wide strategic goals. Consistent with this decision-making process, the CEO uses financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources, and setting incentive targets. Operating expenses are used to monitor budget versus actual results. The CODM does not review assets in evaluating the results of the Company, and therefore, such information is not presented.

 

Given the Company’s September 2025 strategic pivot to prioritize the development and distribution of Tome skincare products, the segment information disclosure has been recast for all periods presented to reflect this change. The following table summarizes the segment’s financial information including the Company’s significant segment expenses:

 

   2026   2025   2026   2025 
  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
   2026   2025   2026   2025 
Research and development  $   $   $   $ 
Clinical   78,263    (20,676)   78,263    705,645 
Chemistry, manufacturing and controls and nonclinical   27,756    166,478    60,258    311,179 
Personnel related   106,544    472,033    457,766    882,152 
Total research and development  $212,563   $617,835   $596,287   $1,898,976 
Selling, general and administrative                    
Compliance   1,289,233    755,020    2,301,029    1,474,664 
Marketing   626,905    -    833,238    - 
Commercial readiness   128,947    -    128,947    - 
Personnel related   755,919    399,876    1,080,448    738,895 
Total selling, general and administrative  $2,801,004   $1,154,896   $4,343,662   $2,213,559 
Interest income   46,504    71,638    125,180    107,855 
Net loss  $(2,967,063)  $(1,701,093)  $(4,814,769)  $(4,004,680)