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

NOTE 9 — SEGMENT AND GEOGRAPHIC INFORMATION

 

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The Company has not generated revenue to date; accordingly, the CODM assesses the Company’s financial performance and allocates resources based on consolidated loss from operations and net loss, together with the Company’s cash position and available liquidity. These financial metrics are used by the CODM to make key operating decisions, including the prioritization and funding of the Company’s research and development programs and the allocation of budget between research and development, and general and administrative expenses.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2026 and 2025:

 

   For the
Three Months
Ended		   For the
Three Months
Ended		   For the
Six Months
Ended		   For the
Six Months
Ended		 
   June 30,   June 30,   June 30,   June 30, 
   2026   2025   2026   2025 
OPERATING EXPENSES                
Research and development  $6,074,436   $2,499,498   $13,426,159   $3,808,653 
General and administrative   2,501,176    2,339,230    5,317,391    6,029,561 
Loss from operations   (8,575,612)   (4,838,728)   (18,743,550)   (9,838,214)
                     
OTHER (EXPENSE) INCOME                    
Interest income   46    64    91    130 
Interest expense   (5,581)   
-
    (80,925)   
-
 
Non-operating expenses   (51,239)   
-
    (204,833)   
-
 
Change in fair value of warrant liability   
-
    302,042    -    1,424,603 
TOTAL OTHER (EXPENSE) INCOME   (56,774)   302,106    (285,667)   1,424,733 
                     
NET LOSS   (8,632,386)   (4,536,622)   (19,029,217)   (8,413,481)