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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment and Geographic Information  
Segment and Geographic Information

NOTE 16 — Segment and Geographic Information

The Company operates as one operating segment. The Company's chief operating decision maker ("CODM") is its co-chief executive officers, who review financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. The CODM uses operating income and net income to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow operating income and the allocation of budget between cost of goods sold, research and development, and general and administrative expenses.

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024 and 2023:

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​

​

​

​

​

​

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For the Year Ended December 31,

​

​

2024

    

2023

Revenue

​

$

542,166

​

$

—

Cost of Goods Sold

​

 

448,095

​

 

—

Operating expenses:

​

 

  

​

 

  

General and administrative expenses

​

 

5,579,218

​

 

6,283,770

Research and development expenses

​

 

3,400,021

​

 

3,238,925

Depreciation and amortization

​

 

32,564

​

 

36,634

Total operating expenses

​

 

9,011,803

​

 

9,559,329

Loss from operations

​

 

(8,917,732)

​

 

(9,559,329)

Other income (expense):

​

 

  

​

 

  

Interest expense

​

 

(12,364,656)

​

 

(10,251,094)

Change in fair value of derivative liabilities

​

 

(7,404,768)

​

 

649,244

Change in fair value of warrant liabilities

​

 

5,783,073

​

 

(16,371,612)

Other income (expense), net

​

 

(161,712)

​

 

—

Total other income (expense):

​

 

(14,148,063)

​

 

(25,973,462)

Net loss

​

$

(23,065,795)

​

$

(35,532,791)

​

Total U.S. revenues were $542,166 and $0 for the years ended December 31, 2024 and 2023, respectively.

The Company's long-lived tangible assets were located in the United States of America.