Schedule of cost, accumulated amortization, impairment charge and net carrying value of intangible assets

The following table summarizes the cost, accumulated amortization, and net carrying value of the Company’s intangible assets as of June 30, 2025 (in thousands):


			Accumulated		Net Carrying
	Cost		Amortization		Value
As of June 30, 2025
Pulmokine - Seralutinib IP (Note 4)	$	26,115	$	1,294	$	24,821
BioInvent - Contract-based Intangible Asset (Note 4)		20,724		111		20,613
Total intangible assets	$	46,839	$	1,405	$	45,434

The following table summarizes the cost, accumulated amortization, impairment charge, and net carrying value of the Company’s intangible assets as of December 31, 2024 (in thousands):


			Accumulated		Net Carrying
	Cost		Amortization		Value
As of December 31, 2024
Pulmokine - Seralutinib IP (Note 4)	$	26,115	$	206	$	25,909
Total intangible assets	$	26,115	$	206	$	25,909

Schedule of reconciliation of numerator and denominator used in calculation of basic and diluted net loss per share attributable to common stockholders

The following table includes the computation of basic and diluted net income per share available to common stockholders (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Numerator
Net income	$	9,191	$	15,985	$	11,558	$	7,390
Less: Series A accumulated dividends		(530)		(530)		(1,061)		(1,061)
Less: Series B accumulated dividends		(838)		(838)		(1,675)		(1,675)
Less: Allocation of undistributed earnings to participating securities		(2,301)		(4,393)		(2,597)		(1,401)
Net income available to common stockholders, basic	$	5,522	$	10,224	$	6,225	$	3,253
Add: Adjustments to undistributed earnings allocated to participating securities		2,301		4,393		2,597		1,401
Net income available to common stockholders, diluted	$	7,823	$	14,617	$	8,822	$	4,654

Denominator
Weighted-average shares used in computing net income per share available to common stockholders, basic		12,007		11,643		11,988		11,611
Effect of dilutive Series X preferred stock		5,003		5,003		5,003		5,003
Effect of dilutive warrants for common stock		2		2		2		2
Effect of dilutive PSUs		208		—		241		—
Effect of dilutive RSUs		23		—		19		—
Effect of dilutive common stock options		518		673		524		647
Weighted-average shares used in computing net income per share available to common stockholders, diluted		17,761		17,321		17,777		17,263
Net income per share available to common stockholders, basic	$	0.46	$	0.88	$	0.52	$	0.28
Net income per share available to common stockholders, diluted	$	0.44	$	0.84	$	0.50	$	0.27

Schedule of accrued and other liabilities

Accrued and other liabilities consisted of the following (in thousands):


	June 30,		December 31,
	2025		2024
Accrued short-term interest payable	$	2,914	$	3,039
Accrued incentive compensation		790		1,555
Accrued legal and accounting fees		719		251
Accrued termination benefits		281		—
Accrued payroll and benefits		131		170
Accrued clinical liabilities		—		306
Income taxes payable in connection with Pulmokine acquisition		—		280
Other accrued liabilities		576		151
Total	$	5,411	$	5,752