Term Loans (Tables)

12 Months Ended

Dec. 31, 2025

Term Loan obligations as of December 31, 2025 consisted of the following:


	December 31, 2025
	Principal Balance		Unamortized Debt Financing Costs		Exit Consideration		Balance, Net
New Pharmakon Term Loans	$	150,000	$	(4,215)	$	311	$	146,096
Total long-term portion of term loan as of December 31, 2025	$	150,000	$	(4,215)	$	311	$	146,096

Term Loan obligations as of December 31, 2024 consisted of the following:


	December 31, 2024
	Principal Balance		Unamortized Debt Financing Costs		Balance, Net
Prior Pharmakon Term Loans	$	125,000	$	(3,494)	$	121,506
Total long-term portion of term loan as of December 31, 2024	$	125,000	$	(3,494)	$	121,506

Schedule of Maturities of Long-term Debt

The following table presents a summary of the principal maturities of the New Pharmakon Term Loans for each of the annual periods subsequent to December 31, 2025:


Fiscal year
2026	$	—
2027	—
2028	—
2029	—
2030	150,000
Thereafter	—
Total principal payments	$	150,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details