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

19. Segments

 

The Company has one operating segment focused on the research and development of clinical assets. The accounting policies of the single operating segment are identical to those described in Note 1. The CODM, which the Company has identified as David Tapolczay, Chief Executive Officer, manages the Company’s operations on a consolidated basis, assesses performance for the operating segment and decides how to allocate resources based on consolidated net loss, which is reported on the consolidated statements of operations and comprehensive income (loss). Depreciation expense, amortization expense, stock-based compensation expense, and non-cash lease expense are significant noncash items included in consolidated net loss reviewed by the CODM and are reported on the consolidated statements of cash flows. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. Expenditures for additions to long-lived assets, which include purchases of property and equipment, are included in total consolidated assets reviewed by the chief operating decision maker and are reported on the consolidated statements of cash flows.

 

The CODM uses consolidated net loss and budget-to-actual variances to assess the performance of the operating segment and determine if the Company is progressing towards its goals.

 

The following table presents certain financial data for the Company’s reportable segment (in thousands):

 

Schedule of Financial Data for the Company’s Reportable Segment 

       
   December 31, 
   2024   2023 
Research & development expense – new licenses  $3,114   $— 
Research & development expense – clinical asset development   264    90 
General and administrative expenses – legal & professional fees   2,258    314 
General and administrative expenses – accounting & audit fees   1,625    3,064 
General and administrative expenses – salaries, payroll and stock-based compensation   4,098    721 
General and administrative expenses – other   4,060    1,073 
Loss from segment operations  $15,419   $5,262 

 

Other segment items consist of the items within Note 17 to the consolidated financial statements.