Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.25.3
Segment Information
 9 Months Ended
Sep. 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 nine months ended September 30, 2025 and 2024 is included at the bottom of the table below.

 

    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2025     2024     2025     2024  
Significant segment expenses                                
General and administrative (1)   $ 1,539,554     $ 1,117,888     $ 4,696,702     $ 4,315,884  
Pre-clinical research (1)     136,271       54,779       301,607       1,281,758  
CMC (1)     293,982       355,977       617,992       1,154,748  
Clinical development (1)     926,228       944,954       4,289,307       2,839,726  
Depreciation and amortization     158,942       162,257       482,396       486,771  
Share based compensation expense     52,987       133,882       209,190       641,311  
Other segment items (2)     2,091       234,867       3,939       270,214  
Total operating and segment expenses     3,110,055       3,004,604       10,601,133       10,990,412  
                                 
Reconciliation of net loss                                
Change in fair value of warrant liabilities     46,870       (70,306 )     115,301       (79,212 )
Realized foreign currency translation loss from dissolution of subsidiaries    
-
      
-
       (7,171 )    
-
  
Foreign currency gain/(loss)     (26,250 )    
-
       3,040      
-
  
Other income     8,619      
-
       28,083      
-
  
Interest and dividends, net     43,396       75,076       145,065       342,701  
Segment and consolidated net loss   $ 3,037,420     $ 2,999,834     $ 10,316,815     $ 10,726,923  

 

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

 

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