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Goodwill & Intangible Assets | 6 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
Goodwill & Intangible Assets | Goodwill & Intangible Assets The Company's goodwill balance was $4.7 million as of June 30, 2026, and December 31, 2025. Prior to June 30, 2025, the Company had a definite-lived intangible asset, net related to the acquisition of OLPRUVA of $60.0 million, which was reviewed for impairment whenever events or changes in circumstances indicated that their carrying amounts may not be recoverable. In the second quarter of 2025, t he Company assessed the results of its refined commercial efforts related to OLPRUVA. This was determined to be a triggering event that could result in a decrease in future expected cash flows, and thus indicated the carrying amount of the OLPRUVA asset group may not be fully recoverable. The Company performed an undiscounted cash flow analysis over the OLPRUVA asset group and determined that the carrying value of the asset group was not recoverable. The Company then estimated the fair value of the asset group to measure the impairment loss for the period. The fair value measurement was based on Level 3 inputs including projected sales driven by market share and product sales price estimates, associated expenses, growth rates, and the discount rate used to measure the fair value of the net cash flows associated with this asset group. The Company recorded an intangible asset impairment charge in the second quarter of 2025, which resulted in reducing the OLPRUVA intangible asset value to zero. Prior to the impairment discussed above, the OLPRUVA definite-lived intangible asset was being amortized on a straight-line basis over the OLPRUVA patent life of 13 years. Amortization expense is recorded as intangible asset amortization in the unaudited condensed consolidated statements of operations and was $1.3 million and $2.6 million for the three and six months ended June 30, 2025, respectively. In connection with the XOMA License Agreement, a regulatory milestone payment of $6.0 million was due to XOMA upon approval of MIPLYFFA in the United States, which the Company paid in October 2024. This definite-lived intangible asset is amortized on a straight-line basis over the MIPLYFFA patent life of approximately five years a nd is reviewed periodically for impairment. Amortization expense is recorded as intangible asset amortization in the unaudited condensed consolidated statements of operations and w as $0.3 million for the three months ended June 30, 2026, and 2025, respectively. Amortization expense was $0.6 million for the six months ended June 30, 2026, and 2025, respectively. For intangible assets subject to amortization, estimated amortization expense for the five fiscal years subsequent to June 30, 2026, is expected to be as follows (in thousands):
2026 (excluding the six months ended June 30, 2026) |  | $ | 632 |
2027 |  | 1,263 |
2028 |  | 1,263 |
2029 |  | 632 |
2030 |  | — |
As of June 30, 2026, and December 31, 2025, non-amortizable intangible assets include IPR&D of $2.0 million.

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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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