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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Measurements

Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

Financial liabilities related to long-term debt obligations are summarized in Note 8. Financial Liabilities. Other financial liabilities and financial assets measured at fair value on a recurring basis are summarized as follows:

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Fair Value Measurements

​

​

June 30, 2024

(in thousands)

Level 1

Level 2

Level 3

Total

Financial Assets:

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​

​

​

​

Cash equivalents(1)

​

$

145,814

​

$

—

​

$

—

​

$

145,814

Prepaid financial instrument in Prepaid manufacturing(2)

​

​

—

​

​

—

​

​

49

​

​

49

Total

​

$

145,814

​

$

—

​

$

49

​

$

145,863

Financial Liabilities:

​

​

​

​

​

Royalty Fee Derivative Liability

​

$

—

​

$

—

​

$

9,202

​

$

9,202

Contingent consideration

​

​

—

​

​

—

​

​

632

​

​

632

Total

​

$

—

​

$

—

​

$

9,834

​

$

9,834

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​

​

​

​

​

​

Fair Value Measurements

​

​

December 31, 2023

(in thousands)

Level 1

Level 2

Level 3

Total

Financial Assets:

​

​

​

​

​

Cash equivalents(1)

​

$

88,460

​

$

998

​

$

—

​

$

89,458

Marketable debt securities:

​

​

​

​

​

​

​

​

U.S. government agency securities

​

​

5,195

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​

—

​

​

—

​

​

5,195

U.S. treasury securities

​

​

2,993

​

​

—

​

​

—

​

​

2,993

Commercial paper and corporate notes

​

​

—

​

​

6,669

​

​

—

​

​

6,669

Prepaid financial instrument in Prepaid manufacturing(2)

​

​

—

​

​

—

​

​

625

​

​

625

Total

​

$

96,648

​

$

7,667

​

$

625

​

$

104,940

Financial Liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Contingent consideration

​

$

—

​

$

—

​

$

4,472

​

$

4,472

​

(1) Cash equivalents consist of money market funds, U.S treasury securities and commercial paper and corporate notes with original maturities of 90 days or less.

(2) Relates to Optional Stock Purchase Agreement as described in the Company’s 2023 Form 10-K.

Schedule of Cash and cash equivalents, marketable securities and restricted cash

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​

​

​

June 30, 2024

(in thousands)

Cost

Unrealized Gain

Unrealized (Loss)

Fair Value

Money market funds

​

$

145,814

​

$

—

​

$

—

​

$

145,814

Total

​

$

145,814

$

—

​

$

—

​

$

145,814

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​

​

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December 31, 2023

(in thousands)

Cost

Unrealized Gain

Unrealized (Loss)

Fair Value

Money market funds

​

$

79,484

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$

—

​

$

—

​

$

79,484

U.S. government agency securities

​

​

5,200

​

—

​

​

(5)

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​

5,195

U.S. treasury securities

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​

11,967

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​

2

​

​

—

​

​

11,969

Commercial paper and corporate notes

​

​

7,673

​

​

—

​

​

(6)

​

​

7,667

Total

​

$

104,324

$

2

​

$

(11)

​

$

104,315

X

- References

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- Definition

Tabular disclosure of the components of cash, cash equivalents, and investments.

+ References

No definition available.

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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

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