| SEGMENT REPORTING |
NOTE 9 SEGMENT REPORTING There have been no changes in the Company’s assessment of the basis of segmentation or in the basis of measurement of segment profit or loss since the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2026. | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Operating expenses: | | | | | | | | | | | | | Contracted research expense | | $ | 14,989 | | $ | 22,623 | | $ | 66,770 | | $ | 62,939 | Personnel expense | | | 13,285 | | | 11,079 | | | 43,827 | | | 32,596 | Stock-based compensation expense | | | 8,565 | | | 8,085 | | | 26,641 | | | 24,877 | Other segment expense(a) | | | 8,774 | | | 4,548 | | | 23,355 | | | 13,456 | Depreciation | | | 530 | | | 523 | | | 1,608 | | | 1,559 | Segment net income (loss) | | | (46,143) | | | (46,858) | | | (162,201) | | | (135,427) | | | | | | | | | | | | | | Reconciliation of net income (loss) | | | | | | | | | | | | | Interest income | | | 16,496 | | | 6,192 | | | 26,214 | | | 17,848 | Other income | | | 3,065 | | | — | | | 3,065 | | | — | Gain on the Sevasemten Sale | | | 1,348,066 | | | — | | | 1,348,066 | | | — | Income tax expense | | | 155,333 | | | — | | | 155,333 | | | — | Net income (loss) | | $ | 1,166,151 | | $ | (40,666) | | $ | 1,059,811 | | $ | (117,579) |
a Other segment expense included in Segment net income (loss) includes contracted administrative expenses, intellectual property fees, software costs, occupancy & equipment costs, and other overhead expenses.
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