Intangible Asset, Net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

As of March 31, 2026, the Company’s net definite-lived intangible assets, which is comprised of the capitalization of certain milestone payments made or accrued related to its license agreement for the intellectual property contained in its drug product, included a gross intangible asset of $10.5 million, less accumulated amortization of $1.4 million for a net intangible asset of $9.1 million. The Company amortizes the intangible asset to cost of revenue over the remaining life of the underlying patent protecting the intellectual property through 2038.

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


Year			Amortization expense

2026 (remainder of year)			563
2027			750
2028			750


2029	750
2030	750
Thereafter	5,500
Total	$	9,063

The Company began amortizing its finite-lived intangible assets in April 2024 over a 14-year period based on the expected patent exclusivity period for XOLREMDI. Amortization expense totaled $0.2 million for the three months ended March 31, 2026 and $0.2 million for the comparable prior year period. Amortization expense is recorded as a component of cost of revenue on the condensed consolidated statements of operations and comprehensive (loss) income.