Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues:    
Total revenues $ 5,820
Costs and expenses:    
Cost of sales 1,532
Royalties 1,893
Research and development 26,812 34,360
Selling, general and administrative 65,031 29,851
Total costs and expenses 95,268 64,211
Loss from operations (89,448) (64,211)
Interest income 5,556 4,246
Interest expense (3,740) (4,208)
Change in fair value of warrant and derivative liabilities 6,139 (755)
Gain from sale of priority review voucher, net 152,366
Other income, net 410 1,194
Income (loss) before income taxes 71,283 (63,734)
Income tax (benefit) expense 100
Net income (loss) $ 71,183 $ (63,734)
Basic income (loss) per common share $ 1.34 $ (1.55)
Dilutive income (loss) per common share $ 1.01 $ (1.55)
Weighted average number of common shares outstanding:    
Basic 52,952,917 41,048,206
Dilutive 66,135,821 41,048,206
Other comprehensive income (loss):    
Change in unrealized gains related to available-for-sale debt securities $ 130 $ 74
Comprehensive income (loss) 71,313 (63,660)
Product [Member]    
Revenues:    
Total revenues 2,420
License [Member]    
Revenues:    
Total revenues $ 3,400