v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
SCHEDULE OF ACCOUNTS RECEIVABLE

Accounts receivable, net comprises the following categories (in thousands):

 

   June 30, 2026   December 31, 2025 
         
Product sales  $9,394   $3,147 
License revenues   —    3,000 
Total accounts receivable, net  $9,394   $6,147 
SCHEDULE OF NUMERATORS AND DENOMINATORS OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE AMOUNTS

A reconciliation of the numerators and the denominators of the basic and diluted net (loss) income per share computations are as follows (in thousands, except per share amounts):

 

   2026   2025   2026   2025 
   For the three months ended June 30,   For the six months ended June 30, 
   2026   2025   2026   2025 
                 
Numerator:                    
Net (loss) income used for basic net income (loss) per share  $(20,191)  $108,833   $(37,266)  $96,804 
Effect of dilutive securities:                    
Fair value adjustments for warrant and derivative liabilities   —    4,834    —    (1,180)
Numerator for dilutive net income (loss) per share - net income available for common shareholders’ after the effect of dilutive securities  $(20,191)  $113,667   $(37,266)  $95,624 
                     
Denominator:                    
Weighted average number of common shares outstanding - basic   57,048,385    52,524,510    56,835,833    51,159,240 
Effect of dilutive shares:                    
Shares of common stock issuable upon exercise of stock options   —    176,173    —    176,273 
Shares of common stock underlying restricted stock   —    5,126,127    —    4,962,006 
Shares of common stock issuable upon exercise of warrants   —    8,199,559    —    8,199,560 
Shares of common stock issuable upon exercise of conversion feature of loan agreement   —    614,251    —    614,251 
Dilutive potential common shares   —    14,116,110    —    13,952,090 
Denominator for dilutive net (loss) income per share - adjusted weighted average shares used in computing net (loss) income per share - dilutive   57,048,385    66,640,620    56,835,833    65,111,330 
                     
Earnings per share:                    
Basic (loss) income per common share  $(0.35)  $2.07   $(0.66)  $1.89 
Dilutive (loss) income per common share  $(0.35)  $1.71   $(0.66)  $1.47 
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

 

   For the three months ended June 30,   For the six months ended June 30, 
   2026   2025   2026   2025 
                 
Shares of common stock issuable upon exercise of stock options   168,670    —    168,670    — 
Shares of common stock underlying restricted stock   4,747,485    —    4,747,485    — 
Shares of common stock issuable upon exercise of conversion feature of loan agreement   614,251    —    614,251    — 
Shares of common stock issuable upon exercise of warrants   8,156,208    1,788,000    8,156,208    1,788,000 
Total   13,686,614    1,788,000    13,686,614    1,788,000