Commitments and Contingencies

12 Months Ended

Dec. 31, 2025


25.	Commitments and Contingencies

The Group is a party to certain licensing agreements where the Group is licensing IP from third parties. In consideration for such

licenses, the Group has made upfront payments and may be required to make additional contingent payments based on

developmental and sales milestones and/or royalties on future sales. As of December 31, 2025, certain milestone events have not yet

occurred, and therefore, the Group does not have a present obligation to make the related payments in respect of the licenses.

Such milestones are dependent on events that are outside of the control of the Group, and many of these milestone events are

remote of occurring. Payments in respect of developmental milestones that are dependent on events that are outside the control of

the Group but are reasonably possible to occur amounted to approximately $7,121 and $7,121, respectively, as of December 31,

2025 and December 31, 2024. These milestone amounts represent an aggregate of multiple milestone payments depending on

different milestone events in multiple agreements. The probability that all such milestone events will occur in the aggregate is

remote. Payments made to license IP represent the acquisition cost of intangible assets.

The Group is a party to arrangements with contract manufacturing and contract research organizations, whereby the counterparty

provides the Group with research and/or manufacturing services. As of December 31, 2025 and December 31, 2024, the

noncancellable commitments in respect of such contracts amounted to approximately $4,308 and $8,395, respectively.

In March 2024, a complaint was filed in Massachusetts District Court against the Group alleging breach of contract with respect to

certain payments alleged to be owed to a previous employee of a Group's subsidiary based on purported terms of a contract

between such individual and the Group. As of December 31, 2024, the Group recognized a provision of $900, which represented

management's best estimate of the expected settlement related to the financial obligation associated with the lawsuit, considering

the likelihood of settlement. During the year ended December 31, 2025, a settlement was reached, and payments in the amounts of

$850 and $89 were made in June 2025 and July 2025, respectively.

The Group is involved from time-to-time in various legal proceedings arising in the normal course of business. Although the

outcomes of these legal proceedings are inherently difficult to predict, the Group does not expect the resolution of such legal

proceedings to have a material adverse effect on its financial position or results of operations. The Group did not book any

provisions and did not identify any contingent liabilities requiring disclosure for any legal proceedings in the years ended December

31, 2025 and 2024