| Schedule of Company's Debt Obligations |
| | | | | | | | | | | | | | | | | At June 30, 2026 | (in thousands) | | Principal Amount | | Unamortized Debt Discount and Debt Issuance Costs | | Net Carrying Value | | Estimated Fair Value | | Level | Financial Liabilities: | | | | | | | | | | | | | | | 2029 Term Loan | | $ | 38,660 | | $ | (1,413) | | $ | 37,247 | | $ | 37,247 | | Level 2* | | | | | | | | | | | | | | | | | | At December 31, 2025 | (in thousands) | | Principal Amount | | Unamortized Debt Discount and Debt Issuance Costs | | Net Carrying Value | | Estimated Fair Value | | Level | Financial Liabilities: | | | | | | | | | | | | | | | 2029 Term Loan | | $ | 38,660 | | $ | (1,609) | | $ | 37,051 | | $ | 37,051 | | Level 2* | 2026 Convertible Notes | | $ | 121 | | $ | — | | $ | 121 | | $ | 119 | | Level 2** |
| * | The principal amounts outstanding are subject to variable interest rates, which are based on three-month SOFR plus fixed percentages. Therefore, the Company believes the carrying amount of these obligations approximates their fair value. |
** | The fair value was influenced by interest rates, the Company’s stock price and stock price volatility and was determined by prices observed in market trading. Since the market for trading of the 2026 Convertible Notes was not considered to be an active market, the estimated fair value was based on Level 2 inputs. |
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| Schedule of royalty participation liability |
A summary of the revenue participation liability is as follows: | | | | | | (in thousands) | June 30, 2026 | | December 31, 2025 | Revenue participation liability | $ | 16,921 | | $ | 16,524 | Less: unamortized discount and issuance costs | | (2,151) | | | (2,496) | Net carrying value(1) | $ | 14,770 | | $ | 14,028 |
| (1) | At June 30, 2026, $0.2 million is included in accrued and other current liabilities and $14.5 million is in other liabilities, non-current. |
The following table summarizes the activity within the revenue participation liability for the periods presented: | | | | | | | | | Six Months Ended June 30, | (in thousands) | | 2026 | | 2025 | Balance at January 1 | | $ | 14,028 | | $ | 28,743 | Royalty payments | | | (1,208) | | | (2,177) | Interest expense recognized(1) | | | 1,950 | | | 3,818 | Portion derecognized in connection with the UDENYCA Buy-out | | | — | | | (17,283) | Balance at June 30 | | $ | 14,770 | | $ | 13,101 |
| (1) | For the three and six months ended June 30, 2026, $1.0 million and $2.0 million, respectively, was presented in continuing operations. For the three months ended June 30, 2025, interest expense was $1.0 million for continuing operations and $0.2 million for discontinued operations related to UDENYCA. For the six months ended June 30, 2025, interest expense was $1.9 million for continuing operations and $1.9 million for discontinued operations . |
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