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Segment Reporting | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting |
(12) | Segment Reporting
Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company operates as a single reporting segment, focused on leveraging its proprietary technology platform to augment therapeutics through effective oral delivery of products and product candidates. The Company’s measure of segment profit or loss is net income (loss). The CODM is the chief executive officer (“CEO”). The CODM manages and allocates resources to the operations of the Company on a total company basis. Managing and allocating resources on a consolidated basis enables the CEO to assess the overall level of resources available and how to best deploy these resources across functions, therapeutic target areas and research and development projects that are in line with the Company’s long-term company-wide strategic goals. Consistent with this decision-making process, the CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. Operating expenses are used to monitor budget versus actual results. The review of budgeted versus actual results is used in assessing performance of the segment. All the Company’s long-lived assets are held in the United States and all the Company’s revenues are primarily related to TLANDO. 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 income (loss) for the three and six months ended June 30, 2025 and 2024 is included in the table below. Schedule of Significant Expense Categories
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Total revenues |  | $ | 622,849 |  |  | $ | 89,565 |  |  | $ | 716,713 |  |  | $ | 7,706,738 |
Program expenses (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
LPCN 1154 | (1) |  | 1,042,929 |  |  |  | 1,024,607 |  |  |  | 1,049,621 |  |  |  | 2,677,093 |
Other research and development programs | (1) |  | 155,415 |  |  |  | (30,916 | ) |  |  | 176,388 |  |  |  | 139,101 |
Program expenses | (1) |  | 155,415 |  |  |  | (30,916 | ) |  |  | 176,388 |  |  |  | 139,101 |
Non-program expenses (2) |  |  | 735,511 |  |  |  | 1,252,539 |  |  |  | 1,736,128 |  |  |  | 2,759,176 |
Personnel costs |  |  | 1,028,142 |  |  |  | 1,033,638 |  |  |  | 2,112,907 |  |  |  | 1,999,836 |
Stock-based compensation |  |  | 65,205 |  |  |  | 102,265 |  |  |  | 136,207 |  |  |  | 201,571 |
Total segment operating income (loss) |  |  | (2,404,353 | ) |  |  | (3,292,568 | ) |  |  | (4,494,538 | ) |  |  | (70,039 | )
Other income (loss) (3) |  |  | 198,637 |  |  |  | 223,934 |  |  |  | 423,949 |  |  |  | 515,026 |
Net income (loss) |  | $ | (2,205,716 | ) |  | $ | (3,068,634 | ) |  | $ | (4,070,589 | ) |  | $ | 444,987 |
| (1) | Includes external research and development expenses.
| (2) | Includes general and administrative expenses, information technology, infrastructure, facilities, and intellectual property, and legal and professional fees.
| (3) | Includes interest income and loss on warrant liability.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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