v3.26.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value of Financial Instruments  
Schedule of change in fair value as determined by Level 3 inputs for the contingent consideration liabilities

  ​ ​ ​

(in thousands)

Balance at December 31, 2025

$

10,004

Change in fair value

 

27

Balance at March 31, 2026

$

10,031

Contingent consideration, current portion

$

1,193

Contingent consideration, net of current portion

 

8,838

Balance at March 31, 2026

$

10,031

  ​ ​ ​

(in thousands)

Balance at December 31, 2024

$

6,973

Change in fair value

 

699

Reclassification of amounts to accrued expenses due to milestone being achieved

 

(6,000)

Balance at December 31, 2025

$

10,004

Contingent consideration, current portion

$

Contingent consideration, net of current portion

 

10,004

Balance at December 31, 2025

$

10,004

Schedule of fair value of financial instruments measured on a recurring basis

  ​ ​ ​

As of March 31, 2026

Description

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Liabilities:

 

  ​

 

  ​

 

  ​

 

  ​

Contingent consideration

$

10,031

 

$

 

$

$

10,031

Total liabilities

$

10,031

 

$

 

$

$

10,031

  ​ ​ ​

As of December 31, 2025

Description

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Liabilities:

 

  ​

 

  ​

 

  ​

 

  ​

Contingent consideration

$

10,004

 

$

 

$

$

10,004

Total liabilities

$

10,004

 

$

 

$

$

10,004

Schedule of fair value measurements of contingent consideration for which a liability is recorded

As of March 31, 2026

Valuation

Significant

Weighted Average

  ​ ​ ​

Methodology

  ​ ​ ​

Unobservable Input

  ​ ​ ​

(range, if applicable)

Contingent Consideration

 

Discounted Cash Flows

 

Milestone dates

 

2026-2031

 

 

  ​

 

Discount rate

 

13.6% to 13.9%

 

  ​

 

Weighted Average Discount rate

 

13.8%

 

  ​

 

Probability of Occurrence (periodic for each Milestone)

 

11.7% to 92.0%

 

  ​

 

Probability of occurrence (cumulative through each Milestone)

 

5.3% to 48.8%

  ​ ​ ​

As of December 31, 2025

Valuation

Significant

Weighted Average

  ​ ​ ​

Methodology

  ​ ​ ​

Unobservable Input

  ​ ​ ​

(range, if applicable)

Contingent Consideration

 

Discounted Cash Flows

 

Milestone dates

 

2026-2031

 

 

Discount rate

12.3% to 12.6%

Weighted Average Discount rate

12.6%

Probability of Occurrence (periodic for each Milestone)

11.7% to 92.0%

 

 

Probability of occurrence (cumulative through each Milestone)

5.3% to 48.8%