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Gain on Sale of the Huntsville Manufacturing Facility (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assumptions Used to Calculate the Fair Value of the Equity Method Investment The following table lists the other Black-Scholes option-pricing model assumptions used to calculate the fair value of the equity method investment.

 

Risk-free interest rate

 

 

4.1

%

Dividend yield

 

 

0.0

%

Volatility factor

 

 

50.0

%
Summary of Gain Computation The gain was computed as follows (in thousands):

 

Cash proceeds at closing

 

$

71,167

 

Net working capital adjustment

 

 

(322

)

Fair value of equity method investment in Gannet BioChem - Level 3 of Fair Value Hierarchy

 

 

12,218

 

Gross cash and non-cash proceeds

 

 

83,063

 

Transaction costs

 

 

(6,155

)

Net proceeds

 

$

76,908

 

 

Accounts receivable

 

$

4,250

 

Inventory

 

 

14,655

 

Other current assets

 

 

864

 

Current liabilities

 

 

(1,354

)

Net working capital

 

 

18,415

 

Property, plant and equipment, net

 

 

11,569

 

Contract asset, net

 

 

6,534

 

Net assets sold

 

$

36,518

 

 

Net proceeds

 

$

76,908

 

Net assets sold

 

 

(36,518

)

Gain on asset sale

 

$

40,390