| Segment Reporting |
6. Segment Reporting The Company operates as a single operating segment, which is the business of developing and commercializing therapeutics. The Company’s chief operating decision maker ("CODM"), its chief executive officer, reviews financial information on an aggregate basis for the purpose of allocating resources and assessing performance. When deciding how to allocate resources, the CODM reviews the financial results of the Company's drug candidate programs. The measure of segment assets is reported on the consolidated balance sheet as total assets. The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Research and development expenses: |
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Lasofoxifene |
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$ |
9,109 |
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$ |
— |
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$ |
17,738 |
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$ |
— |
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Fosgonimeton (ATH-1017) |
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6 |
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555 |
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189 |
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1,862 |
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Brelgometon (ATH-1105) |
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294 |
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1,237 |
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537 |
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2,161 |
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ATH-1020 |
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— |
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— |
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— |
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5 |
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Preclinical programs and other costs |
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465 |
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258 |
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820 |
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660 |
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Milestone liability change in fair value |
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175 |
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— |
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(754 |
) |
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— |
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Personnel-related costs, excluding stock- based compensation |
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1,859 |
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918 |
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3,354 |
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1,916 |
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Total research and development expenses |
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11,908 |
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2,968 |
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21,884 |
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6,604 |
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General and administrative expenses |
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4,137 |
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2,483 |
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10,482 |
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6,503 |
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Other segment expenses(a) |
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3,408 |
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1,840 |
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4,301 |
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3,720 |
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Total operating expenses |
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19,453 |
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7,291 |
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36,667 |
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16,827 |
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Loss from operations |
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(19,453 |
) |
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(7,291 |
) |
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(36,667 |
) |
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(16,827 |
) |
Other income, net |
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446 |
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325 |
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1,032 |
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718 |
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Sermonix pre-funded warrant change in fair value |
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— |
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— |
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(16,320 |
) |
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— |
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Net loss |
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$ |
(19,007 |
) |
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$ |
(6,966 |
) |
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$ |
(51,955 |
) |
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$ |
(16,109 |
) |
(a)Other segment expenses includes stock-based compensation and depreciation expenses. |