v3.26.1
FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of changes in contingent consideration
The following table presents the changes in the CVR liability balances classified as Level 3 for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
(in thousands)20262025
Beginning balance$1,428 $9,000 
Change in fair value(401)(3,000)
Ending balance$1,027 $6,000 
The following table presents the changes in contingent consideration balances classified as Level 3 balances for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
(in thousands)20262025
Beginning balance$8,348 $10,854 
Change in fair value218 801 
Ending balance$8,566 $11,655 
The following table presents the changes in accrued licensor payments balances classified as Level 3 balances for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
(in thousands)20262025
Beginning balance$— $20,961 
Change in fair value— (9,893)
Ending balance$— $11,068 
Schedule of recurring Level 3 fair value measurements of contingent consideration
The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs as of March 31, 2026:
Payment TypeValuation TechniqueUnobservable InputAssumptions
Profit-based milestone paymentsProbability-weighted discounted cash flowDiscount rate11.5%
Projected fiscal year of payment2026-2034
Schedule of financial assets and liabilities accounted for at fair value on a recurring basis
The following table presents financial assets and liabilities accounted for at fair value on a recurring basis as of March 31, 2026 and December 31, 2025, by level within the fair value hierarchy:
(in thousands)Fair Value at
March 31, 2026		Level 1Level 2Level 3
Assets
Money Market Fund$242,196 $242,196 $— $— 
Interest rate swap$1,513 $— $1,513 $— 
  CG Oncology - Investment in equity securities$14,885 $14,885 $— $— 
Liabilities    
Contingent consideration, Novitium$8,566 $— $— $8,566 
Contingent Value Rights, Alimera$1,027 $— $— $1,027 
Accrued licensor payment$— $— $— $— 
(in thousands)Fair Value at
December 31, 2025		Level 1Level 2Level 3
Assets   
Money Market Fund$209,891 $209,891 $— $— 
Interest rate swap$1,646 $— $1,646 $— 
CG Oncology - Investment in equity securities$9,131 $9,131 $— $— 
Liabilities    
Contingent consideration, Novitium$8,348 $— $— $8,348 
Contingent Value Rights, Alimera$1,428 $— $— $1,428 
Accrued licensor payment$— $— $— $—