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SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

 

The Company operates as a single  reportable segment as a clinical stage biopharmaceutical company. The Company’s current focus is on developing oncolytic immunotherapies for the treatment of cancer. Segment profit or loss is measured as the net loss reported in the Company’s condensed statements of operations and comprehensive loss.

 

The Company’s Chief Executive Officer serves as the Chief Operating Decision Maker (CODM). The CODM evaluates performance, allocates resources and conducts planning and forecasting using financial information as presented in the condensed statements of operations. In addition, the CODM reviews research and development expenses by program.

 

The table below details the Company’s revenues and expenses and reconciles those amounts to the Company’s net loss as computed under GAAP in the statements of operations and comprehensive loss:

 

   2026   2025 
   Three Months Ended June 30, 
   2026   2025 
   (in thousands) 
Revenue  $-   $- 
           
Less:          
Research and development, excluding salaries   4,657    3,113 
Salaries   2,052    1,809 
Insurance   176    214 
Stock-based compensation   2,273    1,482 
Operating expenses   487    1,174 
Operating loss   (9,645)   (7,792)
Other income   174   336
Net loss  $(9,471)  $(7,456)

 

   2026   2025 
   Six Months Ended June 30, 
   2026   2025 
   (in thousands) 
Revenue  $-   $- 
           
Less:          
Research and development, excluding salaries   8,449    6,485 
Salaries   4,122    3,303 
Insurance   447    432 
Stock-based compensation   4,055    3,014 
Operating expenses   1,743    2,374 
Operating loss   (18,816)   (15,608)
Other income   417   660
Net loss  $(18,399)  $(14,948)