Segment Reporting

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Reporting

Note 10 – Segment Reporting

The Company has determined that it currently operates in a single segment, Medical Device development, located in a single geographic location, the United States. The accounting policies of the segment are the same as those described in the summary of significant accounting policies set forth in the Company’s Form 10-K/A, filed with the SEC on February 28, 2025. Since the Company operates in a single segment, the measure of segment total assets and loss from operations is the same as that reported on the accompanying balance sheets as total assets, and the accompanying statement of operations as loss from operations, respectively.

The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The CODM uses operating expenses to measure performance against progress in its clinical trials and its product development. The following table sets forth segment expenses.

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(In thousands)	2025			2024			2025			2024
Research and Development:
Employee expense	$	1,329		$	1,211		$	2,699		$	2,364
Clinical		960			1,198			1,832			2,657
Product		403			273			548			576
Other		199			143			369			280
Total research and development		2,891			2,825			5,448			5,877
Selling, General and Administrative Expense:
Employee expense		2,310			1,432			3,544			2,895
Professional fees		308			517			888			932
Reserve for uncollectible prepaid clinical costs		626			-			626			-
Occupancy		151			156			314			309
Insurance		157			164			320			329
Other		606			360			863			615
Total selling, general and administrative expense		4,158			2,629			6,555			5,080
Loss from Operations		7,049			5,454			12,003			10,957
Adjustments and reconciling items		(355	)		(498	)		(806	)		(1,009	)
Net Loss	$	6,694		$	4,956		$	11,197		$	9,948

Adjustments and reconciling items between loss from operations and net loss consist of interest income and realized and unrealized gains and losses related to the Company’s investments in US Treasury securities.