| Segment Information |
Note 17. Segment Information The Company views its operations and manages its business as one operating and reportable segment, utilizing artificial intelligence (“AI”) to develop transformative medicines in neuroscience and immuno-oncology. The Company is focused on utilizing cutting-edge technology and innovative research to develop high-value therapeutics aimed at transforming patients’ lives. The Company’s approach employs a unique AI platform to reduce therapeutic development costs and potentially accelerate development timelines. Consistent with the operational structure, the Chief Executive Officer, as the chief operating decision maker (“CODM”), reviews weekly cash usage and allocates resources based on consolidated net loss that also is reported on the consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM utilizes consolidated net loss by comparing actual results against budgeted amounts on a quarterly basis. As part of this process, consolidated net loss is a critical performance measure used to evaluate the Company’s operating performance and guide strategic decisions and resource allocations, including additional investments in research and development and commercialization activities. | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | Product revenue, net | | $ | 182 | | $ | 120 | | $ | 388 | | $ | 288 | Less: | | | | | | | | | | | | | Cost of goods sold | | $ | 22 | | $ | 107 | | $ | 305 | | $ | 121 | Research and development costs: | | | | | | | | | | | | | Personnel and related costs | | $ | 1,404 | | $ | 1,585 | | $ | 2,869 | | $ | 3,267 | Non-cash stock-based compensation | | | 51 | | | 648 | | | 130 | | | 134 | Professional fees | | | 501 | | | 1,007 | | | 1,043 | | | 1,786 | Clinical trials expense | | | 334 | | | 6,119 | | | 717 | | | 8,137 | Chemical, manufacturing and controls cost | | | 632 | | | 535 | | | 823 | | | 710 | Other expenses | | | 242 | | | 362 | | | 537 | | | 776 | Total research and development costs | | $ | 3,164 | | $ | 10,256 | | $ | 6,119 | | $ | 14,810 | Commercial costs: | | | | | | | | | | | | | Personnel and related costs | | | 78 | | | 84 | | | 156 | | | 163 | Non-cash stock-based compensation | | | — | | | — | | | — | | | - | Professional fees | | | 74 | | | 138 | | | 92 | | | 176 | Commercial and marketing | | | 52 | | | 38 | | | 146 | | | 207 | Travel related expenses | | | 3 | | | 12 | | | 6 | | | 21 | Other expenses | | | 10 | | | (45) | | | 24 | | | (133) | Total commercial costs | | $ | 217 | | $ | 227 | | $ | 424 | | $ | 434 | Selling, general and administrative costs: | | | | | | | | | | | | | Personnel and related costs | | | 1,104 | | | 946 | | $ | 2,160 | | $ | 1,939 | Non-cash stock-based compensation | | | 307 | | | 908 | | | 663 | | | 1,602 | Professional fees | | | 4,794 | | | 2,572 | | | 9,312 | | | 5,406 | Travel related expenses | | | 38 | | | 132 | | | 110 | | | 248 | Other expenses | | | 729 | | | 824 | | | 1,711 | | | 1,679 | Total selling, general and administrative costs | | $ | 6,972 | | $ | 5,382 | | $ | 13,956 | | $ | 10,874 | Total operating expenses | | $ | 10,375 | | $ | 15,972 | | $ | 20,804 | | $ | 26,239 | Other (income) expense | | | | | | | | | | | | | Interest expense | | | 4,257 | | | 4,222 | | | 8,455 | | | 8,215 | Interest income | | | (131) | | | (230) | | | (342) | | | (509) | Other (income) expense, net | | | 394 | | | (657) | | | (1,125) | | | (7,216) | Segment net loss | | $ | (14,713) | | $ | (19,187) | | $ | (27,404) | | $ | (26,441) | Adjustments and reconciling items | | | — | | | — | | | — | | | — | Consolidated Net Loss | | $ | (14,713) | | $ | (19,187) | | $ | (27,404) | | $ | (26,441) |
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