SEGMENT REPORTING

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

The Company has been concentrated on developing treatments for cancers caused by dysregulated gene expression. The current pipeline consists of two small molecule drugs: (1) SP-3164, a targeted protein degrader, and (2) seclidemstat (“SP-2577”), a targeted protein inhibitor. The Company does not have any revenue generating products.

For the three months ended March 31, 2025 and 2024, the Company identified one operating and reportable segment relating to its operations. The Company defines its operating segment based on internally reported financial information that is regularly reviewed by the Chief Operating Decision Maker (the "CODM"), its Chief Executive Officer. The CODM reviews the segment’s loss based on net loss reported on the consolidated statement of operations.

The Company’s CODM views specific categories within research and development expenses and general and administrative expenses as significant given the direct correlation between cash burn as a pre-revenue company. The table below is a summary of the segment loss, including significant segment expenses:

		Three-Month Ended March 31
		2025		2024
Expenses:
Research and development:
SP-3164		21,037		86,886
SP-2577		54,495		156,116
General and administrative:
Professional services and Consulting		1,233,695		568,465
Personnel cost		251,108		841,441
Facility cost		158,360		118,707
Loss from operations		1,718,695		1,771,615
Interest income, net		9,162		56,325
Net loss	$	1,709,533	$	1,715,290