Annual report [Section 13 and 15(d), not S-K Item 405]

OTHER BALANCE SHEET COMPONENTS

v3.25.4
OTHER BALANCE SHEET COMPONENTS
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
OTHER BALANCE SHEET COMPONENTS OTHER BALANCE SHEET COMPONENTS
Property and equipment
Property and equipment included within other assets comprised primarily of computer and other equipment. Following table summarizes the property and equipment for the periods presented (in thousands):
As of December 31,
2025 2024
Total cost $ 347  $ 353 
Less accumulated depreciation (317) (261)
Property and equipment, net $ 30  $ 92 
Depreciation and amortization expense was $0.1 million, $0.1 million and $0.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Prepaid and other current assets
Prepaid and other current assets for the periods presented consist of the following (in thousands):
As of December 31,
2025 2024
Prepaid inventory $ 11,849  $ 3,757 
Prepaid research and development costs 4,886  1,885 
Others 5,207  4,523 
Total prepaid and other current assets $ 21,942  $ 10,165 
Intangible assets
Intangible assets consist of the following (in thousands):
As of December 31,
2025 2024
Intangible assets cost $ 30,360  $ 30,360 
Accumulated amortization (5,612) (3,260)
Intangible assets, net $ 24,748  $ 27,100 
See “Note 5 – In-Licensing and Acquisition” for related discussions of capitalized intangible assets. For the years ended December 31, 2025, 2024 and 2023, amortization expense recorded within cost of sales in the statements of operations were $2.4 million, $2.1 million and $1.1 million, respectively.
As of December 31, 2025, the weighted average remaining amortization period of outstanding intangible assets was 10.54 years. The following table presents the estimated future amortization expense of intangible assets (in thousands):
For the year ending December 31,
2026 $ 2,351 
2027 2,351 
2028 2,351 
2029 2,351 
2030 2,351 
Thereafter 12,993 
$ 24,748 
Other current liabilities
Other current liabilities consist of the following (in thousands):
As of December 31,
2025 2024
Accrued commercial expenses $ 2,192  $ 3,661 
Accrued other expenses 7,919  6,735 
Deferred revenue 1,355  1,355 
Total other current liabilities $ 11,466  $ 11,751