Note 9 - Other Liabilities

Other liabilities consist of the following:

Fixed payment arrangements

Fixed payment arrangements represent obligations to an investor assumed as part of the acquisition of products from Cerecor, Inc. in 2019, including fixed and variable payments.

In May 2022, the Company entered into an agreement with Tris to terminate the license, development, manufacturing and supply agreement dated November 2, 2018, related to Tuzistra XR (the “Tuzistra License Agreement”). Pursuant to such termination the Company accrued a settlement liability, which as of June 30, 2026, had no remaining balance as it was paid in full during the first quarter of fiscal 2026.

The Tris Karbinal Agreement grants the Company exclusive right to distribute and sell Karbinal in the United States. The initial term of the agreement was 20 years. The contract included an initial fixed payment arrangement. As of June 30, 2026, the Company no longer had any balances due to Tris related to these fixed payment arrangements. In addition, the Company pays Tris an ongoing royalty equal to 23.5% of net revenue from the product.

Employee Retention Credit 

The $3.8 million ERC accrual in other non-current liabilities as of June 30, 2026, represents the proceeds the Company received from the ERC program during the first quarter of fiscal 2024. Please see Note 2 - Summary of Significant Accounting Policies for further detail.

Operating Lease Liabilities 

The Company has entered into various operating lease agreements for certain of its offices. Please refer to Note 6 - Leases for further detail.

Other

Other consists of taxes payable, deferred cost, and various other accruals, none of which individually or in the aggregate represent greater than five percent of total liabilities.