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

NOTE 10 – SEGMENT INFORMATION

 

Operating segments are defined as components of the Company for 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’s CODM is its Chief Executive Officer (“CEO”) who views the Company’s operations and manages its business as a single reportable operating segment, being the commercial manufacturing and sales of pharmaceutical treatments for neurological diseases in the geographical areas of Canada and the United States of America.

 

The CEO manages and allocates resources to the operations of the Company on an entity-wide basis. The Company’s measure of segment performance is operating 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 CEO does not review assets in evaluating the results of the Company, and therefore, such information is not presented.

 

The following table summarizes the segment’s financial information including the Company’s significant segment expenses for the periods indicated:

 

    Three Months Ended     Six Months Ended  
    June 30,
2026		     June 30,
2025		     June 30,
2026		     June 30,
2025		  
Revenue                        
Product, net   $ 6,041,506     $ 1,576,411     $ 9,545,327     $ 1,923,340  
Licensing     51,468       81,276       81,445       2,663,001  
Total revenue     6,092,974       1,657,687       9,626,772       4,586,341  
                                 
Cost of revenues                                
Cost of product sales, excluding amortization of intangible assets     277,466       105,354       526,319       131,895  
Cost of licensing revenue     39,362       93,118       62,285       903,118  
Amortization of intangible assets     74,229       5,386       79,616       10,773  
Total cost of revenues     391,057       203,858       668,220       1,045,786  
                                 
Gross Profit     5,701,917       1,453,829       8,958,552       3,540,555  
                                 
Operating expenses                                
Research and development:                                
Clinical studies     1,360,804       -       2,008,105       -  
Consulting fees     125,367       24,857       125,367       75,493  
Employee costs     221,013       84,643       421,313       168,782  
Grant expenses     -       -       -       71,095  
Stock-based compensation     251,088       127,776       358,712       153,760  
Other     50,598       168,864       111,678       337,426  
Total research and development     2,008,870       406,140       3,105,175       806,556  
Selling, general and administrative expenses:                                
Commercial manufacturing     104,112       -       277,629       -  
Commercial operations     1,140,976       391,010       1,731,296       698,323  
Depreciation     29,357       6,228       53,740       8,123  
Employee costs     6,201,212       3,729,451       11,819,937       5,982,989  
Sales and marketing     1,134,746       416,191       1,959,793       644,277  
Stock-based compensation     1,447,253       4,130,069       2,165,158       5,177,989  
General and administrative     1,391,399       822,017       3,698,058       2,074,537  
Total selling, general and administrative expenses   11,449,054       9,494,966       21,705,611       14,586,238  
Total operating expenses     13,457,924       9,901,106       24,810,786       15,392,794  
                                 
Loss from operations   $ (7,756,007 )   $ (8,447,277 )   $ (15,852,234 )   $ (11,852,239 )

 

Revenues from customers are attributed to individual countries based on the location of the Company’s customer, which is generally determined by the customer’s bill-to address. The following table presents revenues from customers by geographic area for the periods indicated:

 

    Three Months Ended     Six Months Ended  
    June 30,
2026		     June 30,
2025		     June 30,
2026		     June 30,
2025		  
United States   $ 6,041,506     $ 1,576,411     $ 9,545,327     $ 1,923,340  
China     51,468       81,276       81,445       2,663,001  
Total revenue   $ 6,092,974     $ 1,657,687     $ 9,626,772     $ 4,586,341  

 

All of the Company’s long-lived, tangible assets are located in the United States.