Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 12 – 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, RASopathies, MAPK pathway-driven tumors and other diseases. 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 and six months ended June 30, 2025 and 2024 is included at the bottom of the table below.

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
Significant segment expenses   2025     2024     2025     2024  
General and administrative (1)       1,460,723       1,300,277       3,157,148       3,197,996  
Pre-clinical research (1)       103,343       796,595       165,336       1,226,979  
CMC (1)       99,413       420,951       324,010       798,771  
Clinical development (1)       1,928,275       1,068,655       3,363,079       1,894,772  
Depreciation and amortization     161,746       162,257       323,454       324,514  
Share based compensation expense     57,645       160,952       156,203       507,429  
Other segment items (2)       (246 )     35,347       1,848       35,347  
Total operating and segment expenses     3,810,899       3,945,034       7,491,078       7,985,808  
                                 
Reconciliation of net loss                                
Change in fair value of warrant liabilities     (8,436 )     (35,622 )     68,431       (8,906 )
Realized foreign currency translation loss from dissolution of subsidiaries    
-
      
-
       (7,171 )    
-
  
Foreign currency gain/(loss)     29,290      
-
       29,290      
-
  
Other income     19,464      
-
       19,464      
-
  
Interest and dividends, net     54,424       114,407       101,669       267,625  
Segment and consolidated net loss     3,716,157       3,866,249       7,279,395       7,727,089  

 

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

 

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