| Segment Reporting |
Note 7 – Segment Reporting
We
manage our operations as a 1single
segment, focused on advancing the clinical-stage BTK inhibitor program and evaluating our legacy pharmaceutical assets. As our chief operating decision maker (CODM), our CEO manages
and allocates resources at a consolidated level. He assesses performance, monitors budget versus actual results, and decides how to allocate
resources based on net loss that also is reported on the consolidated statement of operations and comprehensive loss as consolidated
net loss.
The
following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable
segment for the three and six months ended June 30, 2026 and 2025:
Schedule of Reportable Segment Profit and Loss, Including Significant Expense Categories
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Preclinical, clinical trial and other costs | |
$ | 326,117 | | |
$ | 2,142,229 | | |
$ | 1,749,158 | | |
$ | 3,339,263 | |
| Research and development personnel expense(1) | |
| 323,760 | | |
| 305,057 | | |
| 709,883 | | |
| 696,504 | |
| General and administrative personnel expense(2) | |
| 585,743 | | |
| 628,330 | | |
| 1,262,170 | | |
| 1,302,167 | |
| Administrative and facilities expense(3) | |
| 1,100,518 | | |
| 875,167 | | |
| 1,946,141 | | |
| 1,459,839 | |
| Other expense, net(4) | |
| 929,356 | | |
| (16,865 | ) | |
| 975,321 | | |
| (29,450 | ) |
| Total | |
$ | 3,265,494 | | |
$ | 3,933,918 | | |
$ | 6,642,673 | | |
$ | 6,768,323 | |
| Net Loss | |
$ | 3,265,494 | | |
$ | 3,933,918 | | |
$ | 6,642,673 | | |
$ | 6,768,323 | |
| (1) |
|
Research
and development personnel costs include employee stock-based compensation expense of $17,145 and $8,613 for the three months ended
June 30, 2026 and 2025, respectively, and $34,289 and $55,333 for the six months ended June 30, 2026 and 2025, respectively. |
| (2) |
|
General
and administrative personnel costs include employee stock-based compensation expense of $48,528
and $122,655
for the three months ended June 30, 2026 and 2025, respectively, and $100,915
and $245,310
for the six months ended June 30, 2026 and 2025, respectively, and are net of reimbursements received from CorLyst, LLC. |
| (3) |
|
Administrative
& facilities expense primarily consists of facilities expenses, office expenses, legal costs, insurance, consulting, travel,
and other administrative costs. |
| (4) |
|
Other
income, net consists of interest and dividend income, realized and unrealized loss on our digital asset, and other miscellaneous
income. |
|