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DISCONTINUED OPERATIONS (Tables) | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The results of operations from discontinued operations during the three and six months ended June 30, 2024, have been reflected as loss from discontinued operations, net of income taxes in the condensed consolidated statements of operations and comprehensive loss and consisted of the following:
|  |  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30,
(In thousands) |  |  | 2024 |  |  |  | 2024
Major line items constituting pretax income of discontinued operations |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Total revenues |  |  | $ | 21,762 |  |  |  |  | $ | 29,252 |
Operating expenses: |  |  |  |  |  |  |
Cost of product revenue |  |  | 7,467 |  |  |  |  | 9,030 |
Research and development |  |  | 4,440 |  |  |  |  | 10,114 |
Selling, general and administrative |  |  | 5,055 |  |  |  |  | 7,457 |
Total operating expenses |  |  | 16,962 |  |  |  |  | 26,601 |
Income from operations |  |  | 4,800 |  |  |  |  | 2,651 |
Other expense, net: |  |  |  |  |  |  |
Loss on disposal of discontinued operations |  |  | (1,799) |  |  |  |  | (1,799) |
Total other expense, net |  |  | (1,799) |  |  |  |  | (1,799) |
Income from discontinued operations before income tax expense |  |  | 3,001 |  |  |  |  | 852 |
Income tax expense |  |  | — |  |  |  |  | — |
Income from discontinued operations, net of income taxes |  |  | $ | 3,001 |  |  |  |  | $ | 852 |
Schedule of Collaborative Agreement Liabilities and Revenues Disaggregated by Timing of Revenue Recognition | The following table presents collaboration revenue under the Janssen Collaboration Agreement for the three and six months ended June 30, 2024 (in thousands):
|  |  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30,
|  |  | 2024 |  |  |  | 2024
Revenue from Janssen Collaboration Agreement: |  |  |  |  |  |  |
Over Time: |  |  |  |  |  |  |
Research and Development Services |  |  | $ | 302 |  |  |  |  | $ | 1,273 |
Clinical Supply Services |  |  | — |  |  |  |  | 2 |
Total Revenue from Janssen Collaboration Agreement |  |  | $ | 302 |  |  |  |  | $ | 1,275 |
The following table presents collaboration and product revenue, included within discontinued operations, disaggregated by collaborator and timing of revenue recognition, for the three and six months ended June 30, 2024 (in thousands):
| Three Months Ended June 30, 2024 |  | Six Months Ended June 30, 2024
| Mundipharma |  | Melinta |  | Mundipharma |  | Melinta
Revenue from Collaboration, License and Purchase Agreements: |  |  |  |  |  |  |
Point in Time: |  |  |  |  |  |  |
Rezafungin Assets, including Sale of Intellectual Property and Inventory | $ | 20,833 |  |  | $ | — |  |  | $ | 20,833 |  |  | $ | — |
License of Intellectual Property - upon milestone achieved | $ | — |  |  | $ | — |  |  | $ | 813 |  |  | $ | — |
Product Revenue | — |  |  | — |  |  | 2,826 |  |  | — |
Royalty Revenue | 11 |  |  | 49 |  |  | 37 |  |  | 125 |
Over Time: |  |  |  |  |  |  |
Research and Development Services | 629 |  |  | 140 |  |  | 3,895 |  |  | 457 |
Clinical Supply Services | 9 |  |  | — |  |  | 175 |  |  | — |
Transition Services | 91 |  |  | — |  |  | 91 |  |  | — |
Total Revenue from Collaboration, License and Purchase Agreements | $ | 21,573 |  |  | $ | 189 |  |  | $ | 28,670 |  |  | $ | 582 |

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