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v3.25.1

Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Information |
Segment Information | Note 17. Segment Information The Company views its operations and manages its business as one operating and reportable segment, utilizing artificial intelligence (“AI”) to develop transformative medicines in neuroscience and immuno-oncology. The Company is focused on utilizing cutting-edge technology and innovative research to develop high-value therapeutics aimed at transforming patients’ lives. The Company employs various AI platforms to reduce therapeutic development costs and potentially accelerate development timelines. Consistent with the operational structure, the Chief Executive Officer, as the chief operating decision maker (“CODM”), reviews weekly cash usage and allocates resources based on consolidated net loss that also is reported on the consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM utilizes consolidated net loss by comparing actual results against budgeted amounts on a quarterly basis. As part of this process, consolidated net loss is a critical performance measure used to evaluate the Company’s operating performance and guide strategic decisions and resource allocations, including additional investments in research and development and commercialization activities. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three months ended
​ |  |  | 2025 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product revenue, net | ​ | ​ | $ | 168 | ​ | $ | 582
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of goods sold | ​ | ​ | $ | 14 | ​ | $ | 80
Research and development costs: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Personnel and related costs | ​ | ​ | $ | 1,682 | ​ | $ | 3,630
Non-cash stock-based compensation | ​ | ​ | ​ | (514) | ​ | ​ | 1,281
Professional fees | ​ | ​ | ​ | 779 | ​ | ​ | 1,307
Clinical trials expense | ​ | ​ | ​ | 2,018 | ​ | ​ | 4,068
Chemical, manufacturing and controls cost | ​ | ​ | ​ | 175 | ​ | ​ | 549
Other expenses | ​ | ​ | ​ | 414 | ​ | ​ | 566
Total research and development costs | ​ | ​ | $ | 4,554 | ​ | $ | 11,401
Commercial costs: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Personnel and related costs | ​ | ​ | ​ | 79 | ​ | ​ | 1,149
Non-cash stock-based compensation | ​ | ​ | ​ | — | ​ | ​ | 268
Professional fees | ​ | ​ | ​ | 38 | ​ | ​ | 71
Commercial and marketing | ​ | ​ | ​ | 169 | ​ | ​ | 1,347
Travel related expenses | ​ | ​ | ​ | 9 | ​ | ​ | 117
Other expenses | ​ | ​ | ​ | (88) | ​ | ​ | 196
Total commercial costs | ​ | ​ | $ | 207 | ​ | $ | 3,148
Selling, general and administrative costs: | ​ | ​ |  | ​ | ​ |  | ​
Personnel and related costs | ​ | ​ | $ | 993 | ​ | $ | 2,037
Non-cash stock-based compensation | ​ | ​ |  | 694 | ​ | ​ | 1,884
Professional fees | ​ | ​ |  | 2,834 | ​ | ​ | 5,240
Travel related expenses | ​ | ​ | ​ | 116 | ​ | ​ | 247
Other expenses | ​ | ​ |  | 855 | ​ | ​ | 708
Total selling, general and administrative costs | ​ | ​ | $ | 5,492 | ​ | $ | 10,116
Total operating expenses | ​ | ​ | $ | 10,267 | ​ | $ | 24,745
Other (income) expense | ​ | ​ |  |  | ​ |  |
Interest expense | ​ | ​ |  | 3,993 | ​ |  | 3,607
Interest income | ​ | ​ | ​ | (279) | ​ | ​ | (947)
Other (income) expense, net | ​ | ​ | ​ | (6,559) | ​ | ​ | (32)
Segment net loss | ​ | ​ | $ | (7,254) | ​ | $ | (26,791)
Adjustments and reconciling items | ​ | ​ | ​ | — | ​ | ​ | —
Consolidated Net Loss | ​ | ​ | $ | (7,254) | ​ | $ | (26,791)
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