Segment Reporting

6 Months Ended

Jun. 30, 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) income, 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) income, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under GAAP, to the Company’s net (loss) income in the condensed consolidated statements of operations and comprehensive (loss) income (in thousands):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Direct research and development expenses by program:
TTI-101:
HCC	$	1,118	$	967	$	1,818	$	1,404
IPF		137		2,830		137		3,863
mBC		(5)		(268)		(5)		(268)
Pre-clinical, CMC, and other (unallocated) (1)		105		140		192		315
TTI-109		1,362		822		4,264		1,180
Unallocated research and development expense:
Personnel costs		926		917		1,930		1,775
Consultant fees and other costs (2)		359		398		577		648
General and administrative expense:
Personnel costs		933		1,038		1,865		1,647
Other general and administrative expenses (3)		1,694		2,025		2,902		2,659
Interest income		(172)		(377)		(419)		(652)
Other income, net		—		(12,659)		—		(7,159)
Net (loss) income	$	(6,457)	$	4,167	$	(13,261)	$	(5,412)

⁽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.