Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
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.

 

Three months ended March 31,

 

 

2026

 

 

2025

 

Costs and expenses:

 

 

 

 

 

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

 

 

 

 

 

PAH(1)

$

8,617,555

 

 

$

9,330,844

 

Parkinson's disease

 

—

 

 

 

142,420

 

Other research and development

 

430,895

 

 

 

587,128

 

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

 

3,607,057

 

 

 

3,660,282

 

Change in fair value contingent consideration

 

(373,354

)

 

 

(1,164,864

)

Stock-based compensation expense

 

5,559,766

 

 

 

2,042,196

 

Total costs and expenses

 

17,841,919

 

 

 

14,598,006

 

Loss from operations

 

(17,841,919

)

 

 

(14,598,006

)

Other income

 

1,461,079

 

 

 

919,271

 

Net loss

$

(16,380,840

)

 

$

(13,678,735

)

 

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