Segment Reporting

9 Months Ended

Sep. 30, 2025

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 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 condensed consolidated statements of operations and comprehensive loss (in thousands):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Direct research and development expenses by program:
TTI-101:
HCC	$	597	$	1,980	$	2,001	$	4,996
IPF		—		1,023		3,863		2,991
mBC		—		683		(268)		2,771
Pre-clinical, CMC, and other (unallocated) (1)		112		130		427		715
TTI-109		1,991		19		3,171		697
Unallocated research and development expense:
Personnel costs		741		718		2,516		2,273
Consultant fees and other costs (2)		162		242		810		604
General and administrative expense:
Personnel costs		1,012		492		2,659		1,501
Other general and administrative expenses (3)		1,323		389		3,982		757
Interest income		(411)		(163)		(1,063)		(615)
Other income, net		—		—		(7,159)		—
Net loss	$	(5,527)	$	(5,513)	$	(10,939)	$	(16,690)

⁽¹⁾ Pre-clinical, chemistry, manufacturing and control (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.