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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill The Company’s goodwill arose from the GQ Bio Acquisition in February 2025. As of June 30, 2026 and December 31, 2025, the goodwill balance was $19.6 million and $20.2 million, respectively. The change in the goodwill balance from December 31, 2025 was due to $0.6 million in foreign currency translation adjustments. The Company previously had goodwill resulting from the acquisition of Pacira Pharmaceuticals, Inc. (the Company’s California operating subsidiary) from SkyePharma Holding, Inc. (now a subsidiary of Vectura Group plc, a subsidiary of Molex Asia Holdings Ltd.) in 2007, the acquisition of MyoScience, Inc. (the “MyoScience Acquisition”) in 2019 and the Flexion Acquisition in 2021. Accumulated goodwill impairment charges through June 30, 2026 were $163.2 million. Intangible Assets Intangible assets, net, consists of in-process research and development, or IPR&D, from the GQ Bio Acquisition and Flexion Acquisition, developed technology from the Flexion Acquisition and MyoScience Acquisition and customer relationships from the MyoScience Acquisition. In June 2026, $53.2 million, net, of developed technologies and a nominal amount of customer relationships related to iovera° from the MyoScience Acquisition were reclassified to assets held for sale in conjunction with entering into the Purchase Agreement with Zimmer. Amortization on these intangible assets ceased being recorded at the time the assets were classified as held for sale. For more information, see Note 3, Assets and Liabilities Held for Sale. Intangible assets, net, as of June 30, 2026 are summarized as follows (dollar amounts in thousands):
June 30, 2026 |  | Gross Carrying Value |  | Accumulated Amortization |  | Intangible Assets, Net |  | Weighted-Average Useful Lives
Developed technologies |  | $ | 480,000 |  |  | $ | (228,085) |  |  | $ | 251,915 |  |  | 9 years, 9 months
Acquired IPR&D (1) |  | 33,569 |  |  | — |  |  | 33,569 |  |  |
Total intangible assets, net |  | $ | 513,569 |  |  | $ | (228,085) |  |  | $ | 285,484 |  |  |
(1) The change in the gross carrying value compared to December 31, 2025 reflects the impact of foreign currency translation adjustments related to the IPR&D acquired from the GQ Bio Acquisition.
December 31, 2025 |  | Gross Carrying Value |  | Accumulated Amortization |  | Intangible Assets, Net |  | Weighted-Average Useful Lives
Developed technologies |  | $ | 590,000 |  |  | $ | (256,213) |  |  | $ | 333,787 |  |  | 10 years, 5 months
Customer relationships |  | 90 |  |  | (61) |  |  | 29 |  |  | 10 years
Total finite-lived intangible assets, net |  | 590,090 |  |  | (256,274) |  |  | 333,816 |  |  |
Acquired IPR&D |  | 34,284 |  |  | — |  |  | 34,284 |  |  |
Total intangible assets, net |  | $ | 624,374 |  |  | $ | (256,274) |  |  | $ | 368,100 |  |  |
Amortization expense on intangible assets was $14.3 million for both the three months ended June 30, 2026 and 2025. Amortization expense on intangible assets was $28.6 million for both the six months ended June 30, 2026 and 2025. Assuming no changes in the gross carrying amount of these intangible assets, the future estimated amortization expense on the finite-lived intangible assets will be $24.7 million for the remaining six months of 2026, $49.4 million each year from 2027 to 2030, and $29.5 million in 2031

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- Definition The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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