Intangible Assets, Net

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets


		As of June 30, 2026						As of December 31, 2025
	Estimated life (years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Capitalized Milestones	11	$	9,000	$	(4,108)	$	4,892	$	9,000	$	(3,681)	$	5,319

As of June 30, 2026, the Company’s finite-lived net intangible assets, which totaled $4.9 million, resulted from the capitalization of certain milestone payments made to Ipsen Pharma, S.A.S., or Ipsen, in accordance with the terms of the Company’s license agreement with Ipsen, in connection with the Company’s first commercial sale of IMCIVREE in the U.S. in March 2021 and in France in March 2022.

As of June 30, 2026, amortization expense for the next five years and beyond is summarized as follows (in thousands):


2026 (remainder)	$	427
2027	855
2028	855
2029	855
2030	854
Thereafter	1,046
Total	$	4,892

Amortization expense totaled $0.2 million for each of the three months ended June 30, 2026 and 2025, respectively. Amortization expense totaled $0.4 million for each of the six months ended June 30, 2026 and 2025, respectively. Amortization expense is included in cost of sales in the condensed consolidated statements of operations and comprehensive loss.