Intangible Assets, Net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets


		As of March 31, 2026						As of December 31, 2025
	Estimated life (years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Capitalized Milestones	11	$	9,000	$	(3,894)	$	5,106	$	9,000	$	(3,681)	$	5,319

As of March 31, 2026, the Company’s finite-lived net intangible assets, which totaled $5.1 million, resulted from the capitalization of certain milestone payments made to Ipsen Pharma, S.A.S., or Ipsen, in accordance with the terms of the Company’s license agreement with Ipsen, in connection with the Company’s first commercial sale of IMCIVREE in the U.S. in March 2021 and in France in March 2022.

As of March 31, 2026, amortization expense for the next five years and beyond is summarized as follows (in thousands):


2026 (remainder)	$	641
2027	855
2028	855
2029	855
2030	854
Thereafter	1,046
Total	$	5,106

Amortization expense totaled $0.2 million for each of the three months ended March 31, 2026 and 2025, respectively. Amortization expense is included in cost of sales in the condensed consolidated statements of operations and comprehensive loss.