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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Measurements  
Schedule of Assets/Liabilities Measured at Fair Value on Recurring Basis

Fair Value Measurement at September 30, 2025 and December 31, 2024

(in thousands)

Quoted Price in Active

Market for Identical

Significant Other

Significant

Instruments

Observable Inputs

Unobservable Inputs

Level 1

Level 2

Level 3

Total

2025

    

2024

    

2025

    

2024

    

2025

    

2024

    

2025

    

2024

Assets

  

  

  

  

  

  

  

  

Cash and cash equivalents

$

1,659

(1)  

$

2,020

(1)  

$

20,288

$

24,614

$

$

$

21,947

$

26,634

Processa common shares

$

1

(2)  

$

2

(2)  

$

$

$

$

$

1

$

2

(1)

The Company held approximately $1,659 in cash accounts as of September 30, 2025, of which approximately $440 was held in foreign currencies (translated into U.S. dollars). As of December 31, 2024, the Company held approximately $2,020 in cash of which approximately $363 was in foreign currencies (translated into U.S. dollars).

(2)

The Company holds 51 unrestricted common shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA), which it received as part of a royalty arrangement in 2020.