Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

7. Segment Information

 

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”), in deciding how to allocate resources and in assessing performance. The Company and the Company’s chief operating decision maker view the Company’s operations and manage its business in one operating segment, which is the business of developing, branding, marketing, and commercializing direct to consumer skincare products.

 

The CODM, who is the Chief Executive Officer (“CEO”), President, and Chairman of the Board, manages and allocates resources to the operations of the Company on an entity-wide basis. The Company’s measure of segment profit or loss is net loss. Managing and allocating resources on an entity-wide basis enables the CEO to assess the overall level of resources available and how to best deploy these resources across functions that are in line with the Company’s long-term company-wide strategic goals. Consistent with this decision-making process, the CEO uses financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources, and setting incentive targets. Operating expenses are used to monitor budget versus actual results. The CODM does not review assets in evaluating the results of the Company, and therefore, such information is not presented.

 

Given the Company’s September 2025 strategic pivot to prioritize the development and distribution of Tome skincare products, the segment information disclosure has been recast for all periods presented to reflect this change. The following table summarizes the segment’s financial information including the Company’s significant segment expenses:

 

    2026     2025     2026     2025  
   

Three Months Ended June 30,

    

Six Months Ended June 30,

  
    2026     2025     2026     2025  
Research and development   $     $     $     $  
Clinical     78,263       (20,676 )     78,263       705,645  
Chemistry, manufacturing and controls and nonclinical     27,756       166,478       60,258       311,179  
Personnel related     106,544       472,033       457,766       882,152  
Total research and development   $ 212,563     $ 617,835     $ 596,287     $ 1,898,976  
Selling, general and administrative                                
Compliance     1,289,233       755,020       2,301,029       1,474,664  
Marketing     626,905       -       833,238       -  
Commercial readiness     128,947       -       128,947       -  
Personnel related     755,919       399,876       1,080,448       738,895  
Total selling, general and administrative   $ 2,801,004     $ 1,154,896     $ 4,343,662     $ 2,213,559  
Interest income     46,504       71,638       125,180       107,855  
Net loss   $ (2,967,063 )   $ (1,701,093 )   $ (4,814,769 )   $ (4,004,680 )