Quarterly report [Sections 13 or 15(d)]

Segment Information - Schedule of financial information regularly reviewed and used by the CODM (Details)

v3.26.3
Segment Information - Schedule of financial information regularly reviewed and used by the CODM (Details) - USD ($)
3 Months Ended 9 Months Ended
Feb. 21, 2025
Sep. 30, 2026
Jun. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Research and development (excluding stock-based compensation) expense:                  
PAH   $ 12,549,606     $ 5,598,722     $ 32,848,406 [1] $ 17,668,360 [1]
Parkinson's disease   0     323,301     0 507,917
Other research and development [2]   913,660     55,114     1,571,669 1,476,385
Selling, general and administrative (excluding stock-based compensation)   3,237,983     2,758,857     10,641,666 9,785,962
Change in fair value contingent consideration $ (4,435,443) 0     (492,827)     (373,354) (2,016,111)
Stock-based compensation expense   5,527,808     4,525,206     16,433,584 10,776,144
Total costs and expenses   22,229,057     12,768,373     61,121,971 38,198,657
Segment net income (loss)   (22,229,057)     (12,768,373)     (61,121,971) (38,198,657)
Adjustments and reconciling items   0     0     0 0
Loss from operations   (22,229,057)     (12,768,373)     (61,121,971) (38,198,657)
Interest Income   1,761,723     838,093     4,682,566 2,674,119
Net loss   (20,467,334) $ (19,591,231) $ (16,380,840) (11,930,280) $ (9,915,523) $ (13,678,735) (56,439,405) (35,524,538)
Operating Segment                  
Research and development (excluding stock-based compensation) expense:                  
Stock-based compensation expense   $ 5,527,808     $ 4,525,206     $ 16,433,584 $ 10,776,144
[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.