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 three months ended March 31, 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	781			588			55			27			1,451
Royalty payments accrued	(214)			(160)			—			—			(374)

Carrying value at March 31, 2026	21,438			10,201			2,275			1,154			35,068
Less: current portion	1,731			1,400			156			116			3,403
Convertible fees allocated to royalty	—			—			64			33			97
Carrying value at March 31, 2026, net of current portion	$	19,707		$	8,801		$	2,055		$	1,005		$	31,568

March 31, 2026 Effective Annual Discount Rate	14.8		%	23.7		%	9.8		%	9.7		%