The following table presents the changes in the fair value of the contingent consideration liability that is remeasured on a recurring basis. The contingent consideration earned and accrued in operating expenses is paid to Theravance quarterly.











Balance at December 31, 2025	$	3,630,598
Cash payment of royalty during the period	(554,410)
Change in fair value of contingent consideration included in operating expenses	(259,315)
Contingent consideration earned and accrued in operating expenses	565,583
Balance at June 30, 2026	$	3,382,456

The following table presents the changes in the fair value of the contingent consideration liability that is remeasured on a recurring basis.











Balance at December 31, 2025	$	1,273,000
Cash payment of milestones and royalty during the period	(294,321)
Change in fair value of contingent consideration included in operating expenses	(188,908)
Contingent consideration earned and accrued in operating expenses	237,269
Balance at June 30, 2026	$	1,027,040