Note 12 - Segment Information

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12. Segment Information

Segment reporting is prepared on the same basis that our chief executive officer, who is our Chief Operating Decision Maker (CODM), manages the business, makes operating decisions and assesses performance. The Company operates in one segment. The Company’s business is research and development of drug candidates. Costs, including supplies, outsourced development, and other research and development costs are tracked by major program. While internal personnel costs are tracked by program for overall program spending, it is not broken out for management review. Facility and equipment costs are not allocated to programs. Research and development expenses are summarized by program in the table below (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Licensing revenue	$	—		$	—		$	—		$	850
Personnel		2,324			2,190			9,049			7,585
General		1,540			1,193			3,353			2,882
Tovecimig		2,765			3,963			17,193			14,874
CTX-471		1,493			734			3,952			2,240
CTX-8371		481			532			2,055			1,723
CTX-10726		4,223			—			6,695			—
Research and development		12,826			8,612			42,297			29,304
Personnel		1,652			2,440			8,056			7,927
General		1,339			1,187			4,496			3,670
General and administrative		2,991			3,627			12,552			11,597
Other income		1,558			1,758			4,076			5,709
Net loss	$	(14,259	)	$	(10,481	)	$	(50,773	)	$	(34,342	)