v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has one reportable segment relating to the research and development of its POZ platform.
The Company’s CODM, its Chief Executive Officer and the senior executive leadership team manage the Company’s operations on an integrated basis for the purposes of allocating resources. When evaluating the Company’s financial performance, the CODM regularly reviews total expenses by specific categories to make informed decisions.
The table below is a summary of the significant segment expenses (in thousands):
Three Months Ended June 30,Six months ended June 30,
2026202520262025
Revenue$— $130 $— $130 
Less:
Research and development
Project specific (1)
2,105 1,191 3,510 2,714 
Non-Project specific (2)
8 284 73 370 
Compensation (3)
1,557 1,532 3,124 2,750 
Infrastructure management and facilities128 123 272 224 
Depreciation18 22 36 45 
General and administrative
Professional and outside service fees (4)
1,220 910 2,536 2,124 
Compensation (3)
1,527 1,545 3,143 3,162 
Infrastructure management and facilities221 88 370 164 
Total operating expenses6,784 5,695 13,064 11,553 
Loss from operations(6,784)(5,565)(13,064)(11,423)
Total other income (expense), net428 (897)(190)139 
NET LOSS$(6,356)$(6,462)$(13,254)$(11,284)
(1) Research and development project specific expenses largely consist of costs incurred to develop the Company's lead product candidate, SER 252 (POZ-apomorphine) as well as expenses incurred to develop other small molecules, RNA-based therapeutics and antibody-based drug conjugates ("ADCs").
(2) Research and development non-project specific expenses mainly consist of laboratory expenses and fees paid to outside services.
(3) Compensation includes employee salary and fringe benefits, stock-based compensation and compensation to independent contractors.
(4) General and administrative professional and outside service fees mainly consist of legal, accounting and audit, board, insurance, and SEC filing fees.