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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 9: SEGMENT INFORMATION

 

Operating segments are defined as components of an entity about which separate discrete information is available for evaluation by the chief operating decision maker in deciding how to allocate resources in assessing performance. The Company operates as a single reporting segment, focusing on the development of a novel and patented systemically administered anti-cancer and anti-viral immunotherapy. The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

 

The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the segment based on operating expenses as reported in the accompanying consolidated statement of operations. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as it advances the development of its product candidates through pre-clinical and clinical trials. In addition, the measure of segment assets is reported on the accompanying consolidated balance sheet as total assets.

 

 

As such, the CODM uses cash forecast models in deciding how to invest into the segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment.

 

The following table presents reportable segment loss, including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the years ended December 31, 2024 and 2023:

 

SCHEDULE OF REPORTABLE SEGMENT LOSS 

       
   Year ended December 31, 
   2024   2023 
Research and development:          
External research and development  $4,355,449   $4,683,828 
Internal personnel costs   2,895,648    2,937,879 
Total research and development   7,251,097    7,621,707 
General and administrative   8,114,654    8,756,767 
Other income, net   (343,724)   (955,003)
Net loss  $15,022,027   $15,423,471