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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Measurements

Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

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Fair Value Measurements

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December 31, 2024

(in thousands)

Level 1

Level 2

Level 3

Total

Financial Assets:

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Cash equivalents

​

$

125,549

$

—

$

—

$

125,549

Financial Liabilities:

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​

​

​

Royalty Fee Derivative Liability

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$

—

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$

—

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$

13,620

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$

13,620

Contingent consideration

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—

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—

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632

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632

Total

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$

—

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$

—

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$

14,252

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$

14,252

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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	​	​	—	​	​	—	​	​	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

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(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.

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

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​	​	December 31, 2024
(in thousands)		Cost			Unrealized Gain			Unrealized (Loss)			Fair Value
Money market funds	​	$	125,549	​	$	—	​	$	—	​	$	125,549

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December 31, 2023

(in thousands)

Cost

Unrealized Gain

Unrealized (Loss)

Fair Value

Money market funds

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$

79,484

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$

—

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$

—

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$

79,484

U.S. government agency securities

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5,200

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—

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(5)

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5,195

U.S. treasury securities

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11,967

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2

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—

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11,969

Commercial paper and corporate notes

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7,673

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—

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(6)

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​

7,667

Total

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$

104,324

$

2

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$

(11)

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$

104,315

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- References

No definition available.

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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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