SUBSEQUENT EVENTS |
3 Months Ended |
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Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS (AS RESTATED) CFO Transition On April 6, 2026, the Board of Directors of the Company appointed John M. Gay to serve as Chief Financial Officer of the Company, effective April 10, 2026. Also on April 10, 2026, the Board appointed Mr. Gay to serve as the Company’s treasurer and secretary, effective April 10, 2026. On April 6, 2026, prior to the of Board of Directors appointment of Mr. Gay as Chief Financial Officer, the Board terminated Francis Knuettel II from his position as Chief Financial Officer of the Company, effective April 10, 2026. The Board transitioned Mr. Knuettel’s roles as the Company’s treasurer and secretary to Mr. Gay on April 10, 2026. Mr. Knuettel’s termination was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Ligand Royalty Agreement During the second quarter of 2026, the Company achieved the second commercial sales milestone of $5,000, upon achieving greater than $35,000 in aggregate net sales during four consecutive calendar quarters. Senior Secured Loan Facility Based on the Company exceeding the trailing twelve-month net product revenue thresholds as of June 30, 2026, the Company understands it has achieved access to an additional $10,000 under the Venture Loan and Security Agreement, subject to the lender’s discretion. Performance Stock Units On July 1, 2026, the Company granted 179,050 performance stock units to Company employees.
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