v3.24.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes  
Schedule of provision for income taxes

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Year Ended December 31, 

​

    

2023

    

2022

​

2021

Federal

​

$

31,084

​

$

10,011

​

$

6,487

State

​

 

11,884

​

 

9,573

​

 

2,852

Valuation allowance

​

 

1,575

​

 

(96,366)

​

 

(6,508)

​

​

$

44,543

​

$

(76,782)

​

$

2,831

Current

​

$

57,962

​

$

9,161

​

$

2,831

Deferred

​

 

(14,994)

​

 

10,423

​

 

6,508

Valuation allowance

​

 

1,575

​

 

(96,366)

​

 

(6,508)

Total

​

$

44,543

​

$

(76,782)

​

$

2,831

Schedule of reconciliation between statutory federal income tax rate and the Company's effective income tax rate

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Year Ended December 31, 

​

2023

    

2022

​

2021

​

Federal income tax rate

21.0

%  

21.0

%

21.0

%

Stock-based compensation

(0.4)

​

(4.9)

​

(2.3)

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State taxes

5.7

​

(14.1)

​

6.4

​

Credits

(2.1)

​

(4.8)

​

—

​

Other

0.9

​

(0.3)

​

(0.2)

​

Valuation allowance

0.6

​

(70.2)

​

(17.3)

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Total

25.7

%  

(73.3)

%

7.6

%

Schedule of significant components of company's deferred tax assets and liabilities

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As of December 31, 

​

​

2023

    

2022

​

​

Assets

    

Liabilities

​

Assets

    

Liabilities

Acquired in-process research and development

​

$

35,337

​

$

—

​

$

45,938

​

$

—

Net operating loss carryforward

​

 

45,917

​

 

—

​

 

6,370

​

 

—

Accrued compensation

​

 

19,915

​

 

—

​

 

11,551

​

 

—

Lease obligations, net

​

 

-

​

 

6

​

 

71

​

 

—

Fixed assets

​

 

173

​

 

—

​

 

115

​

 

—

Inventory

​

 

5,344

​

 

—

​

 

6,781

​

 

—

Accrued rebates

​

​

3,791

​

​

—

​

​

7,118

​

​

—

Research and development

​

​

38,799

​

​

—

​

​

8,802

​

​

—

Other

​

 

1,132

​

 

790

​

 

15

​

 

818

Total

​

$

150,408

​

 

796

​

$

86,761

​

 

818

Net deferred tax asset

​

$

149,612

​

$

—

​

$

85,943

​

$

—

Valuation allowance

​

$

(5,450)

​

$

—

​

$

—

​

$

—

Total

​

$

144,162

​

$

—

​

$

85,943

​

$

—

Schedule of change in valuation allowance for deferred tax assets

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Year Ended December 31, 

​

    

2023

    

2022

​

2021

Valuation allowance at the beginning of the year

​

$

—

​

$

(96,366)

​

$

(102,874)

Decreases recorded as a benefit to income tax provision

​

 

—

​

 

96,366

​

 

6,508

Increases due to Zynerba Acquisition

​

​

(3,875)

​

​

—

​

​

—

Increases recorded to income tax provision

​

​

(1,575)

​

​

—

​

​

—

Valuation allowance at the end of the year

​

$

(5,450)

​

$

—

​

$

(96,366)