Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 11 – SEGMENT INFORMATION

 

The Company views its operations and manages its business as one operating and reportable segment, which is the business of research and development of innovative treatments for central nervous system (CNS) disorders and other diseases, including RASopathies and certain cancers. The determination of a single operating segment is consistent with the consolidated financial information regularly provided to the CODM. Consistent with the operational structure, the Chief Executive Officer, as the CODM, reviews and evaluates net loss for purposes of assessing performance, making operating decisions, allocating resources available and how to best deploy these resources across functions, therapeutic areas and research and development projects, and planning and forecasting for future periods on a consolidated basis. Operating expenses are used to monitor budget versus actual results in assessing performance of the segment. Total assets are monitored by the CODM on a consolidated basis which is reported on the face of the consolidated balance sheets. All the Company’s long-lived assets are held in the United States.

 

The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company’s single reporting segment. A reconciliation to the consolidated net loss for the three months ended March 31, 2025 and 2024 is included at the bottom of the table below.

 

    For the Three Months
Ended March 31,		  
Significant segment expenses   2025     2024  
General and administrative (1)     $ 1,696,425     $ 1,897,719  
Pre-clinical research (1)       61,993       430,384  
CMC (1)       224,597       377,820  
Clinical development (1)       1,434,804       826,117  
Depreciation and amortization     161,708       162,257  
Share based compensation expense     98,558       346,477  
Other segment items (2)       2,094      
-
  
Total operating and segment expenses     3,680,179       4,040,774  
                 
Reconciliation of net loss                
Change in fair value of warrant liabilities     76,867       26,716  
Realized foreign currency translation loss from dissolution of subsidiaries     (7,171 )    
-
  
Interest and dividends, net     47,245       153,218  
Segment and consolidated net loss   $ 3,563,238     $ 3,860,840  

 

(1) includes personnel costs and excludes share-based compensation expense

 

(2) includes loss from sale of assets, and loss on asset write offs