Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Information

v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
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.

 

 

Year ended December 31,

 

 

2025

 

 

2024

 

Costs and expenses:

 

 

 

 

 

Research and development (excluding stock-based compensation) expense:

 

 

 

 

 

PAH(1)

$

22,453,185

 

 

$

1,672,869

 

Parkinson's disease

 

647,242

 

 

 

9,333,359

 

Other research and development

 

1,219,560

 

 

 

1,512,151

 

Selling, general and administrative (excluding stock-based compensation)

 

13,718,314

 

 

 

7,930,072

 

Change in fair value contingent consideration

 

(1,373,942

)

 

 

-

 

Stock-based compensation expense

 

15,309,924

 

 

 

8,140,617

 

Total costs and expenses

 

51,974,283

 

 

 

28,589,068

 

Loss from operations

 

(51,974,283

)

 

 

(28,589,068

)

Interest income

 

3,715,094

 

 

 

1,069,182

 

Net loss

$

(48,259,189

)

 

$

(27,519,886

)

 

(1) This amount includes a one-time (non-cash) charge of $7.4 million for the acquired IPR&D related to the CorHepta acquisition during the year ended December 31, 2025.