XML 25 R15.htm IDEA: XBRL DOCUMENT v3.25.2
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 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 six months ended June 30, 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-Months Ended
June 30
Six-Months Ended
June 30
2025202420252024
Expenses:
Research and development:
SP-31648,406125,97429,443212,860
SP-2577107,97788,473162,472244,589
General and administrative:
Professional services and Consulting515,414764,4321,749,1091,332,897
Personnel cost180,933247,539432,0411,088,980
Facility cost152,835241,099311,195359,806
Loss from operations965,5651,467,5172,684,2603,239,132
Interest income, net7,74043,08516,90299,409
Net loss
$
957,825
$
1,424,432
$
2,667,358
$
3,139,723