License Agreements	12 Months Ended
Dec. 31, 2025
License Agreements [Abstract]
License Agreements	21. License Agreements National University Corporation Chiba University License Agreement In August 2017, Perception entered into a license agreement (the “CHIBA License”), with the National University Corporation Chiba University (“CHIBA”), relating to Perception’s drug discovery and development initiatives. Under the CHIBA License, Perception has been granted a worldwide exclusive license under certain patents and know-how of CHIBA to research, develop, manufacture, use and commercialize therapeutic products. During the years ended December 31, 2025 and 2024, the Company did not make any material payments pursuant to the CHIBA License. Allergan License Agreement In February 2020, Recognify entered into an amended and restated license agreement (the "Allergan License Agreement"), with Allergan Sales, LLC, or Allergan, under which Allergan granted Recognify an exclusive (non-exclusive as to know-how), sublicensable and worldwide license under certain patent rights and know-how controlled by Allergan to develop, manufacture and commercialize certain products for use in all fields including the treatment of certain diseases and conditions of the central nervous system. During the years ended December 31, 2025 and 2024, Recognify did not make any material payments pursuant to the Allergan License Agreement. Dalriada License Agreement In December 2021, Invyxis, Inc. (“Invyxis”), a wholly owned subsidiary of the Company, entered into an exclusive services and license agreement (the “Invyxis ESLA”) with Dalriada Drug Discovery Inc. (“Dalriada”). Under the Invyxis ESLA, Dalriada is to exclusively collaborate with Invyxis to develop products, services and processes with the specific purpose of generating products consisting of new chemical entities. For the year ended December 31, 2025, the Company did not make any material payments pursuant to the Dalriada License Agreement. For the year ended December 31, 2024, the Company made $0.4 million in payments as research and development expense for services under the Invyxis ESLA. During the years ended December 31, 2025 and 2024 Invyxis made no other service fee payments to Dalriada. Rizafilm LLC License and Supply Agreement As described in Note 3, Revenue, in January 2025, the Company, through its wholly owned subsidiary Nualtis, entered into an APA and a Supply Agreement with Rizafilm. Under the APA, Nualtis sold licensing and intellectual property rights of Nualtis's oral thin film technology and under the Supply Agreement, subject to approval by the FDA, Nualtis will serve as the sole manufacturer of Rizafilm's products over a five year term with an automatic renewal option for an additional five years unless either party provides sufficient written notice. During the year ended December 31, 2024, the Company did not recognize any license revenue under the license agreement. During the year ended December 31, 2025, the Company recognized $0.2 million of the upfront fee paid by Rizafilm as license revenue. Psilera Acquisition In February 2025, the Company entered into an Intellectual Property Assignment & License Agreement with Psilera, Inc. (“Psilera”) under which the Company has acquired Psilera's dimethyltryptamine (“DMT”) patent portfolio, including all granted and pending patents related to DMT and other related psychedelics. In return, the Company paid Psilera an upfront fee of $0.8 million upon execution of the agreement and may also be required to pay Psilera additional consideration upon the achievement of certain regulatory and sales milestones, in addition to certain sales-based royalties over a ten-year period. The Company determined that the transaction was an asset acquisition under ASC 805 and recognized the upfront fee of $0.8 million as acquired IPR&D expenses in the consolidated statement of operations when incurred during the three months ended March 31, 2025. The Company has determined the regulatory and sales milestones meet the requirements of contingent consideration acquired via an asset acquisition. As described in Note 2, Basis of Presentation and Summary of Significant Accounting Policies, above, the Company has elected the practical expedient under FASB's Statement 141 for the accounting of the regulatory and sales milestones. Under this guidance, the contingent consideration will be recorded once the contingencies are resolved and the consideration is issued or becomes issuable. In August 2025, Psilera achieved a milestone related to the grant of certain patents by the United States Patent Office. Upon completion of the milestone, the Company paid Psilera $2.3 million, which is also recognized as acquired IPR&D expenses in the consolidated statement of operations for the year ended December 31, 2025. The Company may be required to pay Psilera up to an additional $80.0 million upon the completion of certain sales milestones. During the year ended December 31, 2025, the Company did not make any other payments to Psilera in connection with the Psilera Agreement. Additionally, as of December 31, 2025, the Company did not record any contingent liabilities in connection with the Psilera Agreement.

License Agreements

12 Months Ended

Dec. 31, 2025

21. License Agreements

National University Corporation Chiba University License Agreement

In August 2017, Perception entered into a license agreement (the “CHIBA License”), with the National University Corporation Chiba University (“CHIBA”), relating to Perception’s drug discovery and development initiatives. Under the CHIBA License, Perception has been granted a worldwide exclusive license under certain patents and know-how of CHIBA to research, develop, manufacture, use and commercialize therapeutic products.

During the years ended December 31, 2025 and 2024, the Company did not make any material payments pursuant to the CHIBA License.

Allergan License Agreement

In February 2020, Recognify entered into an amended and restated license agreement (the "Allergan License Agreement"), with Allergan Sales, LLC, or Allergan, under which Allergan granted Recognify an exclusive (non-exclusive as to know-how), sublicensable and worldwide license under certain patent rights and know-how controlled by Allergan to develop, manufacture and commercialize certain products for use in all fields including the treatment of certain diseases and conditions of the central nervous system.

During the years ended December 31, 2025 and 2024, Recognify did not make any material payments pursuant to the Allergan License Agreement.

Dalriada License Agreement

In December 2021, Invyxis, Inc. (“Invyxis”), a wholly owned subsidiary of the Company, entered into an exclusive services and license agreement (the “Invyxis ESLA”) with Dalriada Drug Discovery Inc. (“Dalriada”). Under the Invyxis ESLA, Dalriada is to exclusively collaborate with Invyxis to develop products, services and processes with the specific purpose of generating products consisting of new chemical entities.

For the year ended December 31, 2025, the Company did not make any material payments pursuant to the Dalriada License Agreement. For the year ended December 31, 2024, the Company made $0.4 million in payments as research and development expense for services under the Invyxis ESLA. During the years ended December 31, 2025 and 2024 Invyxis made no other service fee payments to Dalriada.

Rizafilm LLC License and Supply Agreement

As described in Note 3, Revenue, in January 2025, the Company, through its wholly owned subsidiary Nualtis, entered into an APA and a Supply Agreement with Rizafilm. Under the APA, Nualtis sold licensing and intellectual property rights of Nualtis's oral thin film technology and under the Supply Agreement, subject to approval by the FDA, Nualtis will serve as the sole manufacturer of Rizafilm's products over a five year term with an automatic renewal option for an additional five years unless either party provides sufficient written notice.

During the year ended December 31, 2024, the Company did not recognize any license revenue under the license agreement. During the year ended December 31, 2025, the Company recognized $0.2 million of the upfront fee paid by Rizafilm as license revenue.

Psilera Acquisition

In February 2025, the Company entered into an Intellectual Property Assignment & License Agreement with Psilera, Inc. (“Psilera”) under which the Company has acquired Psilera's dimethyltryptamine (“DMT”) patent portfolio, including all granted and pending patents related to DMT and other related psychedelics. In return, the Company paid Psilera an upfront fee of $0.8 million upon execution of the agreement and may also be required to pay Psilera additional consideration upon the achievement of certain regulatory and sales milestones, in addition to certain sales-based royalties over a ten-year period. The Company determined that the transaction was an asset acquisition under ASC 805 and recognized the upfront fee of $0.8 million as acquired IPR&D expenses in the consolidated statement of operations when incurred during the three months ended March 31, 2025.

The Company has determined the regulatory and sales milestones meet the requirements of contingent consideration acquired via an asset acquisition. As described in Note 2, Basis of Presentation and Summary of Significant Accounting Policies, above, the Company has elected the practical expedient under FASB's Statement 141 for the accounting of the regulatory and sales milestones. Under this guidance, the contingent consideration will be recorded once the contingencies are resolved and the consideration is issued or becomes issuable. In August 2025, Psilera achieved a milestone related to the grant of certain patents by the United States Patent Office. Upon completion of the milestone, the Company paid Psilera $2.3 million, which is also recognized as acquired IPR&D expenses in the consolidated statement of operations for the year ended December 31, 2025. The Company may be required to pay Psilera up to an additional $80.0 million upon the completion of certain sales milestones.

During the year ended December 31, 2025, the Company did not make any other payments to Psilera in connection with the Psilera Agreement. Additionally, as of December 31, 2025, the Company did not record any contingent liabilities in connection with the Psilera Agreement.