Related-Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 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| Related-Party Transactions | In September 2015, the Company entered into a consulting agreement, superseded in July 2022, for regulatory and development services with Pacific-Link Regulatory Consulting, Inc., an entity owned by the Company’s former President/Chief Executive Officer/director and his spouse, the former Chief Medical Officer of the Company. Consulting expense under this agreement for the three and six months ended June 30, 2026 was $0.7 million and $1.4 million, respectively. For the three and six months ended June 30, 2025, consulting expense under this agreement was $0.6 million and $1.3 million, respectively. As described in Note 8 – Term Loans, in September 2025, the Company entered into the Credit Agreement with the Administrative Agent and a Lender, who 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. Royalty expense payable to an affiliate of OrbiMed for the three and six months ended June 30, 2026 was $1.9 million and $3.1 million, respectively, and was recorded in cost of goods sold in the accompanying condensed consolidated statements of operations and comprehensive loss. For the three and six months ended June 30, 2025, royalty expense payable was $0.9 million and $1.4 million, respectively. |