Related-Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related-Party Transactions | In September 2015, the Company entered into a consulting agreement, superseded in July 2022, for regulatory and development services with Pacific-Link Regulatory Consulting, Inc., an entity owned by the President/Chief Executive Officer/director and his spouse, the Chief Medical Officer of the Company. The Company incurred consulting expenses related to this agreement totaling $0.7 million for each of the three months ended March 31, 2026 and 2025. As described in Note 8 – Term Loans, in September 2025, the Company entered into the Credit Agreement with the Administrative Agent and a Lender, whom are affiliates of RA Capital. The general partner of RA Capital is RA Capital Management GP, LLC, of which a member of the Board of Directors of the Company is a controlling person. RA Capital Healthcare Fund, L.P. and RA Capital Nexus Fund II, L.P. collectively hold in excess of 10% of the Company’s outstanding common stock and are currently the Company’s largest stockholder. RA Capital serves as the investment adviser for each of RA Capital Healthcare Fund, L.P. and RA Capital Nexus Fund II, L.P. As described in Note 10 – In-Licensing and Supply, the Company is required to make milestone payments to an affiliate of OrbiMed upon achievement of certain regulatory and commercial milestones, and royalty payments based on net product sales of neffy. A member of the Company’s Board of Directors is a General Partner at OrbiMed. The Company incurred $1.2 million and $0.5 million in royalty expense payable to an affiliate of OrbiMed during the three months ended March 31, 2026 and 2025, respectively. |