RELMADA THERAPEUTICS, INC. Segments Disclosure
NOTE 12 – SEGMENT REPORTING
The Company determined its reporting units in accordance with ASC 280, Segment Reporting. Reportable operating segments are determined based on the management approach, as defined by ASC 280, is based on the way that the chief operating decision-maker (CODM) organizes segments within the Company for making operating decisions, assessing performance, and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates the Company.
Management determined the Company’s operations constitute a single reportable segment in accordance with ASC 280: clinical stage drug development. The Company derives all of its losses from the development of clinical stage drugs expenses. The Company’s CODM is its . The CODM assesses performance and makes operating decisions about allocating resources based on the research and development operating expenses on the Consolidated Statements of Operations. The CODM does not review assets in evaluating the results of the clinical stage development, and therefore, such information is not presented.
The following table provides the operating expenses of our clinical stage drug development segment (rounded to the nearest $00):
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Clinical Study Expense | $ | 11,789,600 | $ | 11,376,200 | ||||
| Other Research Expense | 4,604,500 | 23,616,000 | ||||||
| Manufacturing and Drug Storage Expense | 3,531,900 | 1,567,400 | ||||||
| Pre-clinical Expense | 328,900 | |||||||
| Compensation Expense | 4,631,600 | 3,349,400 | ||||||
| Stock-based Compensation Expense | 2,321,500 | 5,937,600 | ||||||
| Total Research and Development Expense | $ | 26,879,100 | $ | 46,175,500 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 19, 2026 | Showing above |
| 2024 | Mar 27, 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.