v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has determined that it operates in one segment, the development and commercialization of pharmaceutical products, including controlled-release therapeutic products based on its proprietary polymer-based technology. The Company’s Chief Operating Decision Maker is the Chief Executive Officer (“CEO”). The CEO reviews profit and loss information on a consolidated basis to assess performance and make overall operating decisions as well as resource allocations.
All products are included in one segment because the Company’s products have similar economic and other characteristics, including the nature of the products and production processes, type of customers, distribution methods and regulatory environment.
The following table provides information about the Company’s significant expenses provided to the CEO and includes the reconciliation to income (loss) before income taxes:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Net product revenue$77,467 $50,025 $198,107 $118,707 
Cost of products sold(4,116)6,155 7,827 10,465 
Gross profit81,583 43,870 190,280 108,242 
Operating expenses:
Research and development expenses27,010 3,803 35,619 10,922 
General and administrative expenses19,853 18,328 54,941 68,577 
Selling and marketing expenses27,701 17,344 75,827 53,733 
Other segment items*5,082 4,722 16,073 14,112 
Total operating expenses79,646 44,197 182,460 147,344 
Operating income (loss)1,937 (327)7,820 (39,102)
Investment and other income, net532 610 895 3,114 
Interest expense(2,415)(2,820)(7,008)(8,128)
Income (loss) before income taxes$54 $(2,537)$1,707 $(44,116)
*For the three and nine months ended September 30, 2025 and 2024, the other segment items category includes quality and regulatory expenses and medical affairs expenses.