v3.25.1
Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments
12.
Segments

The Company operates and manages its business as one reportable segment, which is also the Company’s only operating segment. Such segment is the business of developing and commercializing the investigational therapy Haduvio (oral Nalbuphine ER) for the treatment of chronic cough in patients with IPF, chronic cough in patients with non-IPF ILD, and RCC. The Company’s chief operating decision maker, or CODM, is the President and Chief Executive Officer. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on the Company’s consolidated statements of comprehensive loss.

The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets.

The CODM uses consolidated net loss to evaluate the Company’s spend and monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing performance of the segment and in establishing resource allocation across the organization.

The accounting policies of the segment are the same as those described in Note 2 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K.

The following table presents reportable segment loss, including significant expense categories, attributable to the Company’s reportable segment for the periods presented:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Chronic cough in IPF clinical trial expense

 

$

14,615

 

 

$

5,867

 

Refractory chronic cough clinical trial expense

 

 

6,042

 

 

 

2,383

 

Other clinical trials and studies 1

 

 

4,313

 

 

 

4,410

 

Clinical trial material

 

 

3,235

 

 

 

2,216

 

Other clinical development expenses 2

 

 

4,008

 

 

 

3,154

 

Employee compensation (excluding stock compensation expense)

 

 

9,265

 

 

 

7,883

 

Stock compensation expense

 

 

3,588

 

 

 

2,247

 

Other segment items 3

 

 

6,447

 

 

 

5,653

 

Interest income, net

 

 

(3,602

)

 

 

(4,748

)

Net loss

 

$

47,911

 

 

$

29,065

 

 

(1) Includes expense related to the Company’s Human Abuse Potential study, the Company’s Phase 2a CANAL trial of Haduvio for the treatment of chronic cough in patients with IPF, and the Company’s Phase 2b/3 PRISM trial of Haduvio for the treatment of prurigo nodularis.

(2) Includes expense related to general research and development activities, regulatory, medical affairs, and quality assurance.

(3) Includes general administrative expense, interest expense, net, other (expense) income, net and income tax benefit.