| Segment Information |
17. Segment Information
The Company views its operations and manages its business as one operating and reportable segment, which is the business of developing protein kinase inhibitor therapeutics. Consistent with the operational structure, the Chief Executive Officer, as the chief operating decision maker (“CODM”), manages and allocates resources on a consolidated basis using consolidated net income (loss) as a measure of profit/loss for the single reportable segment. This decision making process reflects the way in which the financial information is regularly reviewed and used by the CODM to evaluate performance, set operational targets, forecast future financial results, and allocate resources.
|
|
|
|
|
|
|
|
|
Three months ended June 30, |
|
|
2025 |
|
|
2024 |
|
Costs and expenses: |
|
|
|
|
|
Research and development (excluding stock-based compensation) expense: |
|
|
|
|
|
PAH |
$ |
2,738,794 |
|
|
$ |
— |
|
Parkinson's disease |
|
42,196 |
|
|
|
2,666,108 |
|
Other programs |
|
834,142 |
|
|
|
417,428 |
|
Selling, general and administrative (excluding stock-based compensation) |
|
3,366,824 |
|
|
|
1,936,302 |
|
Change in fair value contingent consideration |
|
(358,420 |
) |
|
|
— |
|
Stock-based compensation expense |
|
4,208,742 |
|
|
|
30,697 |
|
Total costs and expenses |
|
10,832,278 |
|
|
|
5,050,535 |
|
Loss from operations |
|
(10,832,278 |
) |
|
|
(5,050,535 |
) |
Interest income |
|
916,755 |
|
|
|
90,927 |
|
Net loss |
$ |
(9,915,523 |
) |
|
$ |
(4,959,608 |
) |
|
|
|
|
|
|
|
Six months ended June 30, |
|
|
2025 |
|
|
2024 |
|
Costs and expenses: |
|
|
|
|
|
Research and development (excluding stock-based compensation) expense: |
|
|
|
|
|
PAH(1) |
$ |
12,069,638 |
|
|
$ |
— |
|
Parkinson's disease |
|
184,616 |
|
|
|
5,010,004 |
|
Other programs |
|
1,421,270 |
|
|
|
806,881 |
|
Selling, general and administrative (excluding stock-based compensation) |
|
7,027,106 |
|
|
|
3,931,879 |
|
Change in fair value contingent consideration |
|
(1,523,284 |
) |
|
|
— |
|
Stock-based compensation expense |
|
6,250,938 |
|
|
|
84,131 |
|
Total costs and expenses |
|
25,430,284 |
|
|
|
9,832,895 |
|
Loss from operations |
|
(25,430,284 |
) |
|
|
(9,832,895 |
) |
Interest income |
|
1,836,026 |
|
|
|
223,652 |
|
Net loss |
$ |
(23,594,258 |
) |
|
$ |
(9,609,243 |
) |
(1) This amount includes a one-time (non-cash) charge of $7.4 million for the acquired IPR&D related to the CorHepta acquisition.
|