v3.26.3
Segment Information (Tables)
 3 Months Ended
Aug. 31, 2026
Segment Information  
Schedule of reconciliation to the consolidated net income (loss)

The following table is representative of the significant expense categories regularly provided to the chief operating decision maker ("CODM") when managing the Company’s single reporting segment.

 

 

 

Three months ended August 31,

 

(in thousands, except for per share data)

 

2026

 

 

2025

 

Expenses(1):

 

 

 

 

 

 

General and administrative expense(2)

 

$

 

1,639

 

 

$

 

1,622

 

Research and development(3)

 

 

 

4,414

 

 

 

 

3,144

 

Stock-based compensation expense

 

 

 

524

 

 

 

 

179

 

Total operating expenses

 

 

 

6,577

 

 

 

 

4,945

 

Operating loss

 

 

 

(6,577

)

 

 

 

(4,945

)

Interest income

 

 

 

54

 

 

 

 

94

 

Interest on convertible notes

 

 

 

(469

)

 

 

 

(676

)

Issuance costs for private placement of shares and warrants through placement agent (Note 5)

 

 

 

(3,921

)

 

 

 

—

 

Legal settlement revaluation

 

 

 

3,249

 

 

 

 

—

 

Finance charges

 

 

 

—

 

 

 

 

(13

)

Loss on note extinguishment

 

 

 

(12,272

)

 

 

 

—

 

Segment net loss

 

 

 

(19,936

)

 

 

 

(5,540

)

Reconciliation of profit or loss:

 

 

 

 

 

 

 

 

Adjustments or reconciling items

 

 

 

—

 

 

 

 

—

 

Consolidated net loss

 

$

 

(19,936

)

 

$

 

(5,540

)

 

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2) General and administrative expense for the three months ended August 31, 2026, and 2025 is net of approximately $0.4 million and $0.1 million, respectively, of stock-based compensation expense.

(3) Research and development expense for the three months ended August 31, 2026 and 2025 is net of approximately $0.1 million of stock-based compensation expense.