License and Acquired Intangibles, Net (Tables)

3 Months Ended

Mar. 31, 2026

Finite-Lived Intangible Assets, Net [Abstract]

Schedule of Finite-Lived Intangible Assets

The following table presents the Company’s intangible assets at March 31, 2026 (in thousands):


		Gross Carrying Value				Accumulated Amortization				Net Carrying Value
Intangible assets:
License and acquired intangibles for RUZURGI®		$	33,569			$	8,639			$	24,930
License and acquired intangibles for FYCOMPA®			158,143				100,838				57,305
License and acquired intangibles for AGAMREE®			48,500				8,764				39,736
Total		$	240,212			$	118,241			$	121,971

The following table presents the Company’s intangible assets at December 31, 2025 (in thousands):


		Gross Carrying Value				Accumulated Amortization				Net Carrying Value
Intangible assets:
License and acquired intangibles for RUZURGI®		$	33,569			$	8,059			$	25,510
License and acquired intangibles for FYCOMPA®			158,143				92,931				65,212
License and acquired intangibles for AGAMREE®			48,500				7,548				40,952
Total		$	240,212			$	108,538			$	131,674

The Company amortizes its definite-lived intangible assets using the straight-line method, which is considered the best estimate of economic benefit, over its estimated useful life. The estimated useful life used for this purpose for RUZURGI®, FYCOMPA® and AGAMREE® was approximately 14.5 years, 5 years and 10.5 years, respectively.

The Company recorded approximately $0.6 million in amortization expense related to the license and acquired intangibles for RUZURGI® during each of the three months ended March 31, 2026 and 2025, within selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income. The Company recorded approximately $7.9 million in amortization expense related to the license and acquired intangibles for FYCOMPA® during each of the three months ended March 31, 2026 and 2025, respectively, within cost of sales in the condensed consolidated statements of operations and comprehensive income. The Company recorded approximately $1.2 million and $0.9 million in amortization expense related to the license and acquired intangibles for AGAMREE® during the three months ended March 31, 2026 and 2025, respectively, within cost of sales in the condensed consolidated statements of operations and comprehensive income.

Schedule of Finite-Lived, Future Amortization Expense

The following table presents future amortization expense the Company expects for its intangible assets (in thousands):


2026 (remaining nine months)			29,112
2027			38,815
2028			9,142
2029			7,186
2030			7,186
Thereafter			30,530
Total		$	121,971