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Long-Term Debt (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Fair Value Measurement Inputs and Valuation Techniques | The following table summarizes the significant unobservable inputs used in the fair value measurement of the Royalty Right Agreements:
| Valuation Methodology |  | Significant Unobservable Input |  | Weighted Average (range, if applicable)
|  |  | Discount Rate |  | 15%
Royalty Right Agreements | Probability weighted income approach |  | Probability of Success |  | 75%
|  |  | Projected Years of Payments |  | 2025 | - | 2034
Schedule of Long-Term Debt Instruments | Long-term notes and unamortized debt discount balances are as follows:
| March 31, |  | December 31,
| 2025 |  | 2024
Total outstanding notes | $ | 45,000 |  |  | $ | 45,000 |
Unamortized discount, including Exit Fee | (11,392) |  |  | (12,646) |
Notes payable, long-term | 33,608 |  |  | 32,354 |
Finance lease, long-term | 138 |  |  | 146 |
Notes payable, net | $ | 33,746 |  |  | $ | 32,500 |
| March 31, |  | December 31,
| 2025 |  | 2024
Royalty obligations | $ | 56,917 |  |  | $ | 56,922 |
Unamortized discount | (35,269) |  |  | (36,706) |
Current portion of royalty obligation | (89) |  |  | (87) |
Royalty obligations, net | $ | 21,559 |  |  | $ | 20,129 |
Debt Maturity | Scheduled principal payments on the 13.5% Notes as of March 31, 2025 are as follows:
2025 | — |
2026 | 9,540 |
2027 | 14,535 |
2028 | 20,925 |
Total | $ | 45,000 |

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