v3.26.1
Note 14 - Segment Reporting and Geographic Information
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

14.

Segment reporting and geographic information

 

The Company operates in two reportable segments: (i) Plinabulin pipeline and (ii) TPD platform.

 

On December 13, 2024, the Company’s Board of Directors discussed and approved a divestiture plan to sell and transfer about 90% to 100% of the Company’s interests in SEED to potential investors at a determined price. The TPD platform segment was comprised of SEED’s operations. As a result, the TPD platform segment qualified for discontinued operations reporting. See Note 3 – Discontinued operations.

 

The Company presents segment information after elimination of inter-company transactions. In general, revenues and operating expenses are directly attributable, or are allocated, to each segment. The Company allocates operating expenses that are not directly attributable to a specific segment, such as those that support infrastructure across different segments, to different segments mainly on the basis of usage, headcount, depending on the nature of the relevant operating expenses.

 

The Company’s Chief Executive Officer, as the CODM, uses segment net loss to allocate resources for each segment and to assess the performance of each segment, primarily by monitoring actual results versus approved budgets. Significant segment expenses are presented in the table below. Other segment items include interest income, other income, net, and income tax expenses. The CODM does not evaluate the performance of segments using asset or liability information.

 

   

Three months ended June 30,

    

Six months ended June 30,

  
   

2025

    

2026

    

2025

    

2026

  
   

$

    

$

    

$

    

$

  
   

(unaudited)

    

(unaudited)

    

(unaudited)

    

(unaudited)

  

Clinical and pre-clinical expenses

     188       569       302       1,101  

Patent expenses

     271       30       436       220  

Personnel costs

     679       645       1,768       1,311  

Professional services

     470       245       1,442       832  

Other operational expenses

     341       242       610       499  

Other segment items

     (71 )     19       (97 )     138  

Segment net loss

     1,878       1,750       4,462       4,101  

Reconciliation of net loss:

                                

Net loss (income) from discontinued operations

     2,771       3,950       (983 )     8,273  

Consolidated net loss

     4,649       5,700       3,479       12,374  

 

The Company’s long-lived assets of continuing operations by geographic area are presented as follows:

 

   

As of

  
   

December 31, 2025

    

June 30, 2026

  
   

$

    

$

  

Property and equipment, net:

          

(unaudited)

  
                 

PRC

     11       9  

U.S.

     155       129  
                 

Total

     166       138