Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.25.3
Segment Information
3 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 12. Segment Information

 

The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s singular focus is the development of treatments for cannabis toxicity, such as unintentional cannabis poisoning, ACI, and the broader landscape of acute cannabis-induced conditions. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer.

 

The CODM manages and allocates resources to the operations of the Company on a total company basis and segment performance is evaluated based on net loss. The Company’s CEO uses financial information for purposes of evaluating performance, understanding future forecasted results and allocating resources. The measure of segment assets is reported on the balance sheet as total assets. All of the Company’s tangible assets are held in the United States.

 

The following table presents selected financial information with respect to the Company’s single operating segment and its significant segment expenses for the three months ended September 30, 2025 and 2024:

 

 

    2025     2024  
    September 30,  
    2025     2024  
Pre-clinical and clinical studies   $ 406,912     $ 833,861  
Contract manufacturing     120,585       215,466  
Consultants and other research and development     282,494       265,532  
Compensation and related benefits     321,336       306,613  
Professional and consultant fees     710,194       315,794  
Stock-based compensation expense     237,644       286,920  
Directors’ and officers’ insurance     110,329       117,158  
Facilities, fees and other related costs     70,766       70,780  
Interest expense     17,439       59,697  
Interest income     (109,616 )     (26,006 )
Grant income     (9,825 )     (245,362 )
Other     96       283  
Net loss   $ (2,158,354 )   $ (2,200,736 )