| Schedule of Financial Information Regularly Reviewed and Used by the CODM |
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. The table below provides information about the Company's drug development segment and includes the reconciliation to consolidated net income (loss) for the three and nine months ended September 30, 2026 and 2025, respectively
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Three months ended September 30, |
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2026 |
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2025 |
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Costs and expenses: |
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Research and development (excluding stock-based compensation) expense: |
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|
|
|
|
PAH |
$ |
12,549,606 |
|
|
$ |
5,598,722 |
|
Parkinson's disease |
|
— |
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|
|
323,301 |
|
Other research and development(2) |
|
913,660 |
|
|
|
55,114 |
|
Selling, general and administrative (excluding stock-based compensation) |
|
3,237,983 |
|
|
|
2,758,857 |
|
Change in fair value contingent consideration |
|
— |
|
|
|
(492,827 |
) |
Stock-based compensation expense |
|
5,527,808 |
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|
4,525,206 |
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Total costs and expenses |
|
22,229,057 |
|
|
|
12,768,373 |
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Segment net income (loss) |
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(22,229,057 |
) |
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|
(12,768,373 |
) |
Reconciliation of segment net income (loss) |
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Adjustments and reconciling items |
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— |
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— |
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Consolidated net income (loss) |
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(22,229,057 |
) |
|
|
(12,768,373 |
) |
Interest income |
|
1,761,723 |
|
|
|
838,093 |
|
Net loss |
$ |
(20,467,334 |
) |
|
$ |
(11,930,280 |
) |
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Nine months ended September 30, |
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2026 |
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2025 |
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Costs and expenses: |
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Research and development (excluding stock-based compensation) expense: |
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|
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|
PAH(1) |
$ |
32,848,406 |
|
|
$ |
17,668,360 |
|
Parkinson's disease |
|
— |
|
|
|
507,917 |
|
Other research and development(2) |
|
1,571,669 |
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|
|
1,476,385 |
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Selling, general and administrative (excluding stock-based compensation) |
|
10,641,666 |
|
|
|
9,785,962 |
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Change in fair value contingent consideration |
|
(373,354 |
) |
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|
(2,016,111 |
) |
Stock-based compensation expense |
|
16,433,584 |
|
|
|
10,776,144 |
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Total costs and expenses |
|
61,121,971 |
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|
38,198,657 |
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Segment net income (loss) |
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(61,121,971 |
) |
|
|
(38,198,657 |
) |
Reconciliation of segment net income (loss) |
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|
|
|
|
Adjustments and reconciling items |
|
— |
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|
|
— |
|
Consolidated net income (loss) |
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(61,121,971 |
) |
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(38,198,657 |
) |
Interest income |
|
4,682,566 |
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|
2,674,119 |
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Net loss |
$ |
(56,439,405 |
) |
|
$ |
(35,524,538 |
) |
(1) The nine months ended September 30, 2025 figure includes a one-time (non-cash) charge of $7.4 million for the acquired IPR&D related to the CorHepta acquisition.
(2) Other research and development costs include, but are not limited to employee travel, professional education, technology costs, and license fees.
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