v3.26.1
SEGMENT
6 Months Ended
Jun. 30, 2026
SEGMENT  
SEGMENT

16. SEGMENT

Operating segments are identified as components of an enterprise about which separate discrete financial information is made available for evaluation by the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The CODM is the Company’s Chief Executive Officer. The Company manages its operations as one operating and reportable segment for the purposes of assessing performance and making operating decisions. The Company's current focus is the development and commercialization of a biotech AI Platform through its exclusive license. All of the Company’s tangible assets are held in the United States.

The CODM uses net loss as reported on the consolidated statements of operations and comprehensive loss to analyze cash flows in assessing performance of the segment and deciding how to allocate resources. The measure of segment assets is reported on the consolidated balance sheet as total assets.

The table below provides information about the Company’s segment, including significant segment expenses, other segment items and a reconciliation to net loss:

Three Months Ended

Six Months Ended

June 30, 

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

Costs and expenses:

Research and development:

KPI‑012 development costs

$

$

2,510

$

$

5,317

Employee‑related costs for research and development personnel

3,453

61

6,385

Other research and development costs (1)

59

269

59

585

General and administrative

1,662

4,643

3,403

9,236

Other segment expense (income), net (2)

(140)

280

(321)

(1,421)

Net loss

$

(1,581)

$

(11,155)

$

(3,202)

$

(20,102)

(1)Includes facility related costs and depreciation.
(2)Includes loss (gain) on fair value remeasurement of contingent consideration, Interest income, Interest expense, Grant income and other expense, net.