The following table provides the significant assumptions used in determining the initial fair value of the financing used in allocating the proceeds based on relative fair value for the Reedy Creek Purchase Agreement, the Zelsuvmi Royalty Agreement, the Amended Channel Products Royalty Agreement and the Convertible Royalty Agreements, in addition to managements forecasts and estimates as it relates to the future cash flow of the underlying assets (weighted average, as applicable):


	Reedy Creek Purchase Agreement		Zelsuvmi Royalty Agreement		Channel Products Royalty Agreement		Xepi Royalty Agreement		Sato Payments
Discount rate	16.0	%	16.0	%	20.3	%	25.7	%	35.7	%
Probability of success	85.0	%	85.0	%	47.2	%	95.0	%	52.4	%

The following table provides the activity of the financing for the six months ended June 30, 2026 for the Reedy Creek Purchase Agreement, the Zelsuvmi Royalty Agreement, the Amended Channel Products Royalty Agreement and the Convertible Royalty Agreements (weighted average, as applicable):


	Reedy Creek Purchase Agreement			Zelsuvmi Royalty Agreement			Xepi Royalty Agreement			Sato Payments			Total
Carrying value at December 31, 2025	$	20,871		$	9,773		$	2,220		$	1,127		$	33,991
Interest accretion	1,583			1,203			110			50			2,946
Royalty payments accrued	(521)			(391)			—			—			(912)

Carrying value at June 30, 2026	21,933			10,585			2,330			1,177			36,025
Less: current portion	1,527			1,281			84			95			2,987
Convertible fees allocated to royalty	—			—			62			31			93
Carrying value at June 30, 2026, net of current portion	$	20,406		$	9,304		$	2,184		$	1,051		$	32,945

June 30, 2026 Effective Annual Discount Rate	14.9		%	23.8		%	9.8		%	7.8		%