Phio Pharmaceuticals Corp. Segments Disclosure
12. Segment Information
The Company is a clinical stage biopharmaceutical company that has yet to generate operating revenues. Management has determined that the Company operates with a operating segment and a reportable segment – the Clinical segment. The Chief Operating Decision Maker (CODM) is the Chief Executive Officer (CEO). The CEO assesses performance and allocates resources to achieve the Company’s goals based on operating loss and net loss as reported in the Consolidated Statements of Operations. The measure of segment assets is Total Assets as presented on the Consolidated Balance Sheets. All of the Company’s operations occur within the United States.
The following table presents selected financial information with respect to the Company's single operating segment (in thousands):
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Research and development | ||||||||
| PH-762 | $ | 2,789 | $ | 2,070 | ||||
| PH-894 | 231 | 149 | ||||||
| Employee expense, lab supplies and overhead | 1,598 | 1,424 | ||||||
| Total research and development | 4,618 | 3,643 | ||||||
| General and administrative | 4,602 | 3,743 | ||||||
| Total operating expenses | $ | 9,220 | $ | 7,386 | ||||
| Other income, net | (522 | ) | (236 | ) | ||||
| Net loss | $ | 8,698 | $ | 7,150 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.