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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 10 - SEGMENT REPORTING

 

The Company determined its reporting units in accordance with ASC 280, Segment Reporting. Reportable operating segments are determined based on the management approach, as defined by ASC 280, is based on the way that the chief operating decision-maker (CODM) organizes segments within the Company for making operating decisions, assessing performance, and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates the Company.

 

Management determined the Company’s operations constitute a single reportable segment in accordance with ASC 280: clinical stage drug development. The Company derives all of its losses from the development of clinical stage drugs expenses. The Company’s CODM is its chief executive officer and chief financial officer. The CODM assesses performance and makes operating decisions about allocating resources based on the research and development operating expenses on the Consolidated Statements of Operations. The CODM does not review assets in evaluating the results of the clinical stage development, and therefore, such information is not presented.

 

The following table provides the operating expenses of our clinical stage drug development segment for the three and nine months ended September 30, 2025 and 2024 (rounded to the nearest $00):

 

   Three months ended
September 30,		   Nine months ended
September 30,		 
   2025   2024   2025   2024 
Clinical Study Expense  $1,083,100   $2,345,300   $9,823,300   $7,105,400 
Other Research Expense   852,800    5,956,400    3,386,000    19,262,700 
Manufacturing and Drug Storage Expense   752,000    301,400    989,200    1,275,400 
Pre-clinical Expense   
-
    
-
    
-
    33,700 
Compensation Expense   990,400    805,300    2,986,500    2,478,300 
Stock-based Compensation Expense   358,000    1,740,700    1,621,700    5,020,000 
Total Research and Development Expense  $4,036,300   $11,149,100   $18,806,700   $35,175,500