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Segment Reporting
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Segment Reporting    
Segment Reporting

16.Segment Reporting

​

The Company has one reportable segment relating to the discovery and development of novel orally bioavailable, small molecule therapies across a broad range of diseases driven by STAT3 with high unmet need.

The Company’s CODM, its Chief Executive Officer and Chief Financial Officer, manages the Company’s operations on company-wide level for the purpose of allocating resources. The key measure of segment profit or loss that the CODM uses to allocate resources and assess financial performance is the Company’s net income (loss), which is utilized to evaluate the progress of its research and development programs and other expense categories. The CODM makes decisions using this information on a company-wide basis.

The table below shows a reconciliation of the Company’s net income (loss), including the significant expense categories regularly provided to and reviewed by the CODM, as computed under GAAP, to the Company’s net income (loss) in the condensed consolidated statements of operations and comprehensive income (loss) (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended June 30, 

​

For the Six Months Ended June 30,

​

    

2025

    

2024

    

2025

    

2024

Direct research and development expenses by program:

 

​

  

 

​

  

 

​

  

 

​

  

TTI-101:

 

​

  

 

​

  

 

​

  

 

​

  

HCC

​

$

967

​

$

1,599

​

$

1,404

​

$

3,016

IPF

​

 

2,830

​

 

1,352

​

 

3,863

​

 

1,968

mBC

​

 

(268)

​

 

1,878

​

 

(268)

​

 

2,088

Pre-clinical, CMC, and other (unallocated)(1)

​

 

140

​

 

229

​

 

315

​

 

585

TTI-109

​

 

822

​

 

462

​

 

1,180

​

 

678

Unallocated research and development expense:

​

 

​

​

 

​

​

 

​

​

 

​

Personnel costs

​

 

917

​

 

760

​

 

1,775

​

 

1,555

Consultant fees and other costs(2)

​

 

398

​

 

251

​

 

648

​

 

362

General and administrative expense:

​

 

​

​

 

​

​

 

​

​

 

​

Personnel costs

​

 

1,038

​

 

486

​

 

1,647

​

 

1,009

Other general and administrative expenses(3)

​

 

2,025

​

 

164

​

 

2,659

​

 

368

Interest income

​

 

(377)

​

 

(206)

​

 

(652)

​

 

(452)

Other income, net

​

 

(12,659)

​

 

—

​

 

(7,159)

​

 

—

Net income (loss)

​

$

4,167

​

$

(6,975)

​

$

(5,412)

​

$

(11,177)

(1)Pre-clinical, CMC, and other (unallocated) costs include pre-clinical testing, CMC, and other direct research and development expenses that are not allocated to a specific program.
(2)Consultant fees and other costs include expenses incurred for research and development consultants as well as payroll costs for employees within the research and development function.
(3)Other general and administrative expenses include professional fees, accounting services, rent, and other overhead and administrative expenses.

Assets provided to the CODM are consistent with those reported on the condensed consolidated balance sheets.

17.Segment Reporting

The Company has one reportable segment relating to the discovery and development of novel orally bioavailable, small molecule therapies across a broad range of diseases driven by STAT3 with high unmet need.

The Company’s CODM, its Chief Executive Officer and Chief Financial Officer, manages the Company’s operations on company-wide level for the purposes of allocating resources. The key measure of segment profit or loss that the CODM uses to allocate resources and assess financial performance is the Company’s net loss, which is utilized to evaluate the progress of its research and development programs and other expense categories. The CODM makes decisions using this information on a company-wide basis.

The table below shows a reconciliation of the Company’s net loss, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under GAAP, to the Company’s net loss in the statements of operations (in thousands):

​

​

​

​

​

​

​

​

​

For the Year Ended 

​

​

December 31,

​

    

2024

    

2023

Direct research and development expenses by program:

 

​

  

 

​

  

TTI-101:

 

​

  

 

​

  

HCC

​

$

8,583

​

$

2,127

IPF

​

 

6,703

​

 

3,210

mBC

​

 

2,182

​

 

646

Pre-clinical, CMC, and other (unallocated) (1)

​

 

969

​

 

4,373

TTI-109

​

 

1,193

​

 

1,466

Unallocated research and development expense:

​

 

  

​

 

  

Personnel costs

​

 

2,988

​

 

2,900

Consultant fees and other costs (2)

​

 

1,032

​

 

1,144

General and administrative expense:

​

 

  

​

 

  

Personnel costs

​

 

2,085

​

 

1,882

Other general and administrative expenses (3)

​

 

2,372

​

 

917

Interest income

​

 

(747)

​

 

(1,318)

Other (income) expense, net

​

 

2,037

​

 

—

Net loss

​

$

(29,397)

​

$

(17,347)

(1)Pre-clinical, CMC, and other (unallocated) costs includes pre-clinical testing, CMC, and other direct research and development expenses that are not allocated to a specific program.
(2)Consultant fees and other costs includes expenses incurred for research and development consultants as well as payroll costs for employees within the research and development function.
(3)Other general and administrative expenses include professional fees, accounting services, rent, and other overhead and administrative expenses.

Assets provided to the CODM are consistent with those reported on the balance sheets.