Segment Reporting

3 Months Ended

Mar. 31, 2026

Segment Reporting

Segment Reporting

14.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 Chief Operating Decision Maker (CODM), its Chief Executive Officer and Chief Financial Officer, manages the Company’s operations at a 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 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 March 31,
	2026		2025
Direct research and development expenses by program:
TTI-101:
HCC	$	700	$	437
IPF		—		1,033
mBC		—		—
Pre-clinical, CMC, and other (unallocated) (1)		87		175
TTI-109		2,902		358
Unallocated research and development expense:
Personnel costs		1,004		858
Consultant fees and other costs (2)		218		250
General and administrative expense:
Personnel costs		932		609
Other general and administrative expenses (3)		1,208		634
Interest income		(247)		(275)
Other expense		—		5,500
Net loss	$	(6,804)	$	(9,579)

⁽¹⁾ Pre-clinical, chemistry, manufacturing and control (CMC), and other (unallocated) costs include preclinical 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. The Company does not have intra-entity sales or transfers.