v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 37,890 $ (3,099)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation expense 3,105 3,115
Inventory Write-down 485 0
Income tax expense 6,914 1,182
Depreciation and amortization expense 368 1,649
Non-cash interest expense 341 663
Non-cash lease expense 118 0
Fair value adjustment related to warrant and CVR liability (968) (4,874)
Accretion on investments (624) (305)
Fair value adjustment related to investments 216 3
Loss on extinguishment of debt 2,756 0
Loss on derivative liability 7,216 0
Cash paid to settle derivative instrument and payoff premium (9,016) 0
Settlement of royalties to Aquestive (4,393) 0
Paid-in-kind interest (3,134) 0
Gain on sale of future royalties, intellectual property, and other assets, net (43,314) 0
Consulting fees paid in common stock 0 75
(Gain) loss on foreign currency exchange rates (1,403) 213
Change in assets and liabilities:    
Accounts and other receivables 6,890 (2,108)
Prepaid expenses and other current assets 2,053 286
Inventories (185) (205)
Operating lease right-of-use assets 0 166
Other long-term assets (87) 0
Accounts payable and accrued expenses (529) (7,265)
Discount and rebate liabilities 1,150 1,912
Operating lease liabilities (123) (190)
Other liabilities 416 560
Net cash provided by (used in) operating activities 6,142 (8,222)
Cash flows from investing activities:    
Sale of future royalties, intellectual property, and other assets, net 43,935 0
Purchases of property and equipment (35) (99)
Disposals of property and equipment 42 0
Purchases of investments (58,296) (7,359)
Sales and maturities of investments 93,972 18,000
Net cash provided by investing activities 79,618 10,542
Cash flows from financing activities:    
Repayment of debt (60,092) 0
Payments for employee taxes related to stock awards (2,635)
Proceeds from issuance of common stock for options exercised 752 1,979
Proceeds from issuance of common stock for warrants exercised 9,171 0
Payments of principal on insurance financing arrangements 0 (372)
Net cash (used in) provided by financing activities (52,804) 1,607
Effect of exchange rate changes on cash and cash equivalents 233 (372)
Net increase in cash and cash equivalents 33,189 3,555
Cash and cash equivalents, beginning of period 62,406 33,785
Cash and cash equivalents, end of period 95,595 37,340
Supplemental cash flow information:    
Cash paid for interest 1,370 1,306
Right-of-use assets obtained in exchange for lease liabilities 0 1,115
Cash not yet received on sale of of future royalties, intellectual property, and other assets, net $ 5,000 $ 0