| Schedule of reconciliation of discontinued operations |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in thousands) | | 2025 | | 2024 | | 2025 | | 2024 | Net revenue | | $ | 23,094 | | $ | 54,683 | | $ | 55,228 | | $ | 129,438 | Costs and expenses: | | | | | | | | | | | | | Cost of goods sold | | | 6,548 | | | 26,559 | | | 25,897 | | | 59,706 | Research and development | | | 440 | | | 1,357 | | | 162 | | | 1,403 | Selling, general and administrative | | | 2,027 | | | 7,650 | | | 9,483 | | | 23,950 | Total costs and expenses | | | 9,015 | | | 35,566 | | | 35,542 | | | 85,059 | Income from operations | | | 14,079 | | | 19,117 | | | 19,686 | | | 44,379 | Interest expense | | | (487) | | | (1,272) | | | (3,484) | | | (9,270) | Loss on debt extinguishment | | | (10,286) | | | — | | | (10,286) | | | — | Other income (expense), net | | | 221 | | | — | | | (11,560) | | | — | Gain on Sale Transactions, net | | | 339,102 | | | 24,085 | | | 339,102 | | | 177,732 | Net income from discontinued operations before income taxes | | | 342,629 | | | 41,930 | | | 333,458 | | | 212,841 | Income tax provision | | | — | | | — | | | — | | | — | Net income from discontinued operations, net of tax | | $ | 342,629 | | $ | 41,930 | | $ | 333,458 | | $ | 212,841 |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in thousands) | | 2025 | | 2024 | | 2025 | | 2024 | UDENYCA | | $ | 23,190 | | $ | 50,917 | | $ | 54,652 | | $ | 93,584 | CIMERLI | | | (96) | | | — | | | 533 | | | 28,194 | YUSIMRY | | | — | | | 3,766 | | | 43 | | | 7,660 | Total net revenue from discontinued operations | | $ | 23,094 | | $ | 54,683 | | $ | 55,228 | | $ | 129,438 |
| | | |
|---|
| | December 31, |
|---|
(in thousands) | | 2024 |
|---|
Assets of Discontinued Operations | | | |
|---|
Inventory | | $ | 65,887 |
|---|
Prepaid manufacturing | | | 4,983 |
|---|
Other prepaids and current assets | | | 1,310 |
|---|
Total assets of discontinued operations, current | | | 72,180 |
|---|
Property and equipment, net | | | 261 |
|---|
Inventory, non-current | | | 43,776 |
|---|
Other assets, non-current | | | 206 |
|---|
Total assets of discontinued operations, non-current | | | 44,243 |
|---|
Total assets of discontinued operations | | $ | 116,423 |
|---|
| | | | | | | | | June 30, | | December 31, | (in thousands) | | 2025 | | 2024 | Assets | | | | | | | Trade receivables, net (1) | | $ | (10,273) | | $ | 102,365 | Liabilities | | | | | | | Accrued rebates, fees and reserves | | $ | 95,062 | | $ | 163,771 | Liabilities to be paid in connection with UDENYCA Sale | | | | | | | Accrued and other current liabilities | | $ | — | | $ | 14,816 | Other liabilities, non-current | | $ | — | | $ | 15,667 | Convertible notes (Note 8) | | $ | — | | $ | 228,229 |
| (1) | Chargebacks and discounts for prompt payment are classified as a reduction in trade receivables. |
|