v3.25.2
BALANCE SHEET ACCOUNT DETAIL
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BALANCE SHEET ACCOUNT DETAIL BALANCE SHEET ACCOUNT DETAIL
The composition of selected captions within the accompanying Condensed Balance Sheets are summarized below:
Inventory
Inventory consists of the following:
June 30, 2025December 31, 2024
Current assets:
Work in progress$1,582 $614 
Finished goods2,291 2,006 
Inventory3,873 2,620 
Non-current assets:
Raw materials2,532 2,533 
Inventory, non-current2,532 2,533 
Total inventory$6,405 $5,153 
Property and Equipment, Net
Property and equipment, net consists of the following:
June 30, 2025December 31, 2024
Furniture and fixtures$1,625 $1,598 
Office equipment1,127 1,127 
Laboratory equipment451 167 
Leasehold improvements1,160 794 
Manufacturing equipment1,228 604 
Property and equipment, at cost5,591 4,290 
(Less): Accumulated depreciation(2,409)(1,976)
Property and equipment, net $3,182 $2,314 
Depreciation expense for the three months ended June 30, 2025 and 2024 was $0.2 million and $0.1 million, respectively, and for the six months ended June 30, 2025 and 2024 was $0.4 million and $0.3 million, respectively. There were no impairments recognized during the three and six months ended June 30, 2025 and 2024.
Intangible Assets
Intangible assets, net consists of the following:
June 30, 2025December 31, 2024
Intangible assets, gross$9,000 $9,000 
(Less): Accumulated amortization(1,154)(674)
Intangible assets, net$7,846 $8,326 
Intangible assets are amortized to cost of sales over the remaining useful life of 8.2 years as of June 30, 2025, with an initial useful life of 10 years from the date of first commercial sale (see Note 8). Amortization expense for the three months ended June 30, 2025 and 2024 was $0.2 million and $0.1 million, respectively, and for the six months ended June 30, 2025 and 2024 was $0.5 million and $0.2 million, respectively.
As of June 30, 2025, the expected future amortization expense for the Company's intangible assets is as follows:
Amounts
2025 (remaining six months)$480 
2026961 
2027961 
2028961 
2029961 
Thereafter3,522 
Total future amortization$7,846 
There have been no impairments of intangible assets for the three and six months ended June 30, 2025 and 2024.
Accounts Payable and Other Accrued Liabilities
Accounts payable and other accrued liabilities consists of the following:
June 30, 2025December 31, 2024
Trade accounts payable and other$28,075 $27,739 
Accrued product sales deductions45,117 33,122 
Accrued royalty payable5,132 3,320 
Operating lease liability, current317 608 
Accounts payable and other accrued liabilities$78,641 $64,789