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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Measurements |
Schedule of financial assets and liabilities measured at fair value on a recurring basis | The following tables set forth the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements as of March 31, 2025 Using:
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | Significant | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
​ | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 58,759 | ​ | $ | — | ​ | $ | — | ​ | $ | 58,759
U.S. treasury bills | ​ | ​ | 25,674 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25,674
Total cash equivalents | ​ | ​ | 84,433 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 84,433
Exarafenib milestone asset (Note 4) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,307 | ​ | ​ | 3,307
Investment in equity securities | ​ | ​ | 2,382 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,382
Castle Creek PRV Interest (Note 5) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Castle Creek warrants (Note 5) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 605 | ​ | ​ | 605
Total financial assets | ​ | $ | 86,815 | ​ | $ | — | ​ | $ | 3,912 | ​ | $ | 90,727
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exarafenib milestone contingent consideration (Note 4) | ​ | $ | — | ​ | $ | — | ​ | $ | 3,307 | ​ | $ | 3,307
Total financial liabilities | ​ | $ | — | ​ | $ | — | ​ | $ | 3,307 | ​ | $ | 3,307
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements as of December 31, 2024 Using:
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | Significant | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
​ | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 72,304 | ​ | $ | — | ​ | $ | — | ​ | $ | 72,304
U.S. treasury bills | ​ | ​ | 20,367 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,367
Total cash equivalents | ​ | ​ | 92,671 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 92,671
Exarafenib milestone asset (Note 4) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,214 | ​ | ​ | 3,214
Investment in equity securities | ​ | ​ | 3,529 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,529
Total financial assets | ​ | $ | 96,200 | ​ | $ | — | ​ | $ | 3,214 | ​ | $ | 99,414
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exarafenib milestone contingent consideration (Note 4) | ​ | $ | — | ​ | $ | — | ​ | $ | 3,214 | ​ | $ | 3,214
Total financial liabilities | ​ | $ | — | ​ | $ | — | ​ | $ | 3,214 | ​ | $ | 3,214

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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