Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Information

v3.25.3
Segment Information
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information

10. Segment Information

 

The Company has a single reportable segment and allocates resources based on cash resources and operating expense projections. The table below summarizes the significant expense categories regularly reviewed by the CODM:

 

    2025     2024  
    Years ended September 30,  
    2025     2024  
Research and development:                
Clinical   $ 5,632,217     $ 2,613,188  
Non-clinical     2,260,300       3,888,787  
Other(1)     462,787       (764,723 )
Total research and development     8,355,304       5,737,252  
General and administrative:                
Payroll and related     1,716,552       715,846  
Professional fees     3,695,790       1,922,292  
Consulting     1,314,698       1,532,601  
Other(2)     1,761,771       1,960,106  
Total general and administrative     8,488,811       6,130,845  
Operating expenses   $ 16,844,115     $ 11,868,097  

 

(1) Other research and development consists primarily of payroll and related expenses and dues, licenses and subscriptions. The balance is negative for the year ended September 30, 2024 due to the cancellation of accrued but unpaid bonuses that had been awarded for fiscal years 2022 and 2023.
(2) Other general and administrative consists primarily of facilities, insurance, filing fees, travel expenses and franchise taxes.

 

 

Sonnet BioTherapeutics Holdings, Inc.

Notes to Consolidated Financial Statements