v3.26.3
Note 20 - Segment Reporting
 9 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

Note 20 – Segment Reporting

 

The Company is engaged in the development and commercialization of innovative solutions for the treatment of urothelial and specialty cancers. The Company has a single operating segment and reportable segment focused on these business activities, and its operations are managed on a consolidated basis. The primary revenue source for the segment comes from sales of the Company’s approved products, Jelmyto and Zusduri, primarily conducted in the United States.

 

The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer (“CEO”). The CODM assesses performance and allocates resources based on net income or loss, which is the primary measure of performance, as reported in the condensed consolidated statements of operations and comprehensive loss. Additionally, net income or loss is used to monitor performance relative to budgeted targets and to evaluate financial performance in relation to the Company’s strategic goals. For additional information, refer to the condensed consolidated statements of operations and comprehensive loss for detailed measures of segment revenues, expenses, and profit or loss.

 

Information about significant segment expenses regularly provided to the CODM is as follows (in thousands):

 

  

For the Three Months Ended September 30,

  

For the Nine Months Ended September 30,

 
  

2026

  

2025

  

2026

  

2025

 

Research and development expenses

                

R&D project materials & services

 $19,025  $8,914  $40,176  $33,623 

Acquisitions of IPR&D

  —   —   —   3,128 

Employee compensation

  5,482   4,185   14,992   13,310 

Rent, office, utilities & technology

  1,229   691   3,028   2,280 

Other expenses

  228   218   701   452 

Total research and development expenses

 $25,964  $14,008  $58,897  $52,793 
                 

Selling, general and administrative expenses

                

Employee compensation

 $27,641  $19,717  $79,129  $57,408 

Commercial & medical affairs services

  10,078   6,681   31,681   25,752 

Professional services

  3,258   3,989   14,471   10,337 

Travel, meetings & conferences

  3,335   3,970   12,234   13,244 

Rent, office, utilities & technology

  1,547   1,331   4,581   3,659 

Other expenses (1)

  1,347   1,894   5,033   5,348 

Total selling, general and administrative expenses

 $47,206  $37,582  $147,129  $115,748 

 

(1) Other expenses primarily consist of insurance, publications, sponsorships, grants, other fees and taxes.