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10-K true 2024-12-31 --12-31 2024 false 000-50865 MannKind Corporation DE 13-3607736 1 Casper Street Danbury CT 06810 818 661-5000 Common Stock, par value $0.01 per share MNKD NASDAQ Yes No Yes Yes Large Accelerated Filer false false true false false 1390239822 303591344 Portions of the registrant’s definitive Proxy Statement (the “Proxy Statement”) for the 2025 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission not later than April 30, 2025 are incorporated by reference into Part III of this Annual Report on Form 10-K. Risk management and strategyWe have implemented and maintain various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, and manufacturing-related data (collectively “Information Systems and Data”). Our cybersecurity risk committee, which includes employees with responsibility for information technology, information security, operations, finance and legal matters, has oversight of the cybersecurity program which manages our cybersecurity threats and risks. Members of this committee identify and assess risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods, including: <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">using automated and manual tools for identifying threats;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">conducting threat assessments for internal and external threats;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">conducting vulnerability assessments;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">evaluating threats reported to us;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">conducting scans of the threat environment;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">conducting internal and external audits;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">analyzing reports of threats and actors;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">evaluating our and our industry’s risk profile;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">subscribing to reports and services that identify cybersecurity threats; and</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">utilizing third-party threat assessments.</div></div>Depending on the environment, we implement and maintain various technical, physical, and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data, including, for example: <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">our security incident response and communication plan;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">our disaster recovery plan;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">ongoing risk assessments;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">implementation of security standards;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">encryption of data;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">network security controls;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">access controls;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">physical security;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">asset management, tracking and disposal;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">systems monitoring;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">employee training;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">penetration testing;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">cybersecurity insurance; and</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">dedicated cybersecurity personnel.</div></div> <div>Our assessment and management of material risks from cybersecurity threats are integrated into our enterprise risk management processes. For example, (1) cybersecurity risk is addressed as a component of our enterprise risk management program and identified in our risk heat map with a specified mitigation plan; (2) our information security department works with management to prioritize our risk management processes and mitigate cybersecurity threats that are more likely to lead to a material impact to our business; (3) our cybersecurity risk committee evaluates material risks from cybersecurity threats against our overall business objectives and reports to the audit committee of the board of directors, which evaluates our overall enterprise risk. </div>We use third-party service providers to assist us periodically to identify, assess, and manage material risks from cybersecurity threats, including for example; <div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">threat intelligence service providers;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">cybersecurity software providers;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">managed cybersecurity service providers;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">penetration testing firms;</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">dark web monitoring services; and</div></div><div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.7521786492374725%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="width:100%;display:inline;">professional services firms, including legal counsel.</div></div> Certain third-party application providers provide critical services for our business. Our vendor management program to manage cybersecurity risks associated with our use of these providers includes audits and a review of security assessments. Depending on the nature of the services provided, the sensitivity of the Information Systems and Data at issue, and the identity of the provider, our vendor management process may involve different levels of assessment designed to help identify cybersecurity risks associated with a provider and the imposition of contractual obligations related to cybersecurity on the provider. For a description of the risks from cybersecurity threats that may materially affect us and how they may do so, see our risk factors in this Annual Report on Form 10-K, including “Risk Factors – If our information technology systems or data, or those of third parties upon which we rely, are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse consequences.” <div>Governance Our board of directors addresses our cybersecurity risk management as part of its general oversight function. The audit committee of the board of directors is responsible for overseeing our cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. <div>Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our Executive Director of Information Technology, who has more than 30 years of experience of building and managing critical systems that house sensitive data, and a dedicated information security analyst with more than 15 years of experience in providing protection and resilience against evolving threats. Our Executive Director of Information Technology is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. This member of the management team is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. </div><div>Our cybersecurity incident response and communication plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including the executive leadership team. The cybersecurity risk committee works with our incident response team to help mitigate and remediate cybersecurity incidents of which they are notified. In addition, our cybersecurity incident response and communication plan includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. <div>The audit committee receives regular reports from the cybersecurity risk committee concerning our significant cybersecurity threats and risk and the processes we have implemented to address them. The audit committee also has access to various reports, summaries or presentations related to cybersecurity threats, incidents, risk and mitigation. </div></div></div> Our assessment and management of material risks from cybersecurity threats are integrated into our enterprise risk management processes. For example, (1) cybersecurity risk is addressed as a component of our enterprise risk management program and identified in our risk heat map with a specified mitigation plan; (2) our information security department works with management to prioritize our risk management processes and mitigate cybersecurity threats that are more likely to lead to a material impact to our business; (3) our cybersecurity risk committee evaluates material risks from cybersecurity threats against our overall business objectives and reports to the audit committee of the board of directors, which evaluates our overall enterprise risk. true true false Governance Our board of directors addresses our cybersecurity risk management as part of its general oversight function. The audit committee of the board of directors is responsible for overseeing our cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. <div>Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our Executive Director of Information Technology, who has more than 30 years of experience of building and managing critical systems that house sensitive data, and a dedicated information security analyst with more than 15 years of experience in providing protection and resilience against evolving threats. Our Executive Director of Information Technology is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. This member of the management team is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. </div><div>Our cybersecurity incident response and communication plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including the executive leadership team. The cybersecurity risk committee works with our incident response team to help mitigate and remediate cybersecurity incidents of which they are notified. In addition, our cybersecurity incident response and communication plan includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. <div>The audit committee receives regular reports from the cybersecurity risk committee concerning our significant cybersecurity threats and risk and the processes we have implemented to address them. The audit committee also has access to various reports, summaries or presentations related to cybersecurity threats, incidents, risk and mitigation. </div></div> Our board of directors addresses our cybersecurity risk management as part of its general oversight function. The audit committee of the board of directors is responsible for overseeing our cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. The audit committee of the board of directors is responsible for overseeing our cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our Executive Director of Information Technology, who has more than 30 years of experience of building and managing critical systems that house sensitive data, and a dedicated information security analyst with more than 15 years of experience in providing protection and resilience against evolving threats. Our Executive Director of Information Technology is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. This member of the management team is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. Executive Director of Information Technology, who has more than 30 years of experience of building and managing critical systems that house sensitive data, and a dedicated information security analyst with more than 15 years of experience in providing protection and resilience against evolving threats Our Executive Director of Information Technology is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. This member of the management team is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. true Our cybersecurity incident response and communication plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including the executive leadership team. The cybersecurity risk committee works with our incident response team to help mitigate and remediate cybersecurity incidents of which they are notified. In addition, our cybersecurity incident response and communication plan includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. <div>The audit committee receives regular reports from the cybersecurity risk committee concerning our significant cybersecurity threats and risk and the processes we have implemented to address them. The audit committee also has access to various reports, summaries or presentations related to cybersecurity threats, incidents, risk and mitigation. </div> true Opinion on Internal Control over Financial Reporting We have audited the internal control over financial reporting of MannKind Corporation and subsidiaries (the “Company”) as of December 31, 2024, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control – Integrated Framework (2013) issued by COSO. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements as of and for the year ended December 31, 2024, of the Company and our report dated February 26, 2025, expressed an unqualified opinion on those financial statements. Deloitte & Touche LLP Los Angeles, California false false false false true 34 Deloitte & Touche LLP Los Angeles, California

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-11938000

-87400000

21358000

17649000

13447000

-20444000

16172000 185000

7371000

4535000

3325000

3855000

4574000

2202000

1668000

1301000

2987000

1646000

2085000

2092000

-1550000

-170000

-932000

1444000

-565000

56000 224000 325000 10234000 2103000

5259000

-5092000 -925000 707000

3907000

-1916000

4811000

241000

339000

-17000

31000 9552000

-2652000

-2345000

11807000

3196000

11347000

5670000

6574000

7318000

15552000

3570000

-263000

-523000

-2788000

-1473000

4096000

-2703000

6606000

-723000

-15312000

39462000

19047000

-2690000 -9424000 -5709000 -2292000 -2385000 -3309000

-4950000

42511000

34094000

-80679000

273789000

79095000

74536000

135317000

119166000

107340000

7006000 5000000

58126000

9693000

42441000

7589000

15341000

396000

382000

-96649000

-1988000

4874000

150000000 4050000

87697000

36617000 6667000

8854000

6087000 10162000 -319000 3139000 1820000 2766000 752000 924000 1088000 398000 189000 18000

6887000

19790000

108000

381000

-137266000

136607000

21388000

-191404000

168713000

-54417000

238480000

69767000

124184000

47076000

238480000

69767000

17506000

18279000

8852000

4262000

116439000

10057000

4300000 3806000 222000 10270000 3605000

1679000

1691000

1298000

959000 1812000 728000 3793000 497000 445000 325000 610000

Business — MannKind Corporation and its subsidiaries (the “Company”) is a biopharmaceutical company focused on the development and commercialization of innovative therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases. The Company’s signature technologies – Technosphere dry-powder formulations and Dreamboat inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation. The Company is currently commercializing Afrezza (insulin human) Inhalation Powder, an ultra rapid-acting inhaled insulin indicated to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults that require insulin. The first product to come out of the orphan lung disease pipeline, Tyvaso DPI (treprostinil) inhalation powder, received approval from the U.S. Food and Drug Administration (“FDA”) in May 2022 for the treatment of pulmonary arterial hypertension ("PAH") and for the treatment of pulmonary hypertension associated with interstitial lung disease ("PH-ILD"). The Company's development and marketing partner, United Therapeutics ("UT") began commercializing Tyvaso DPI in June 2022 and is obligated to pay a 10% royalty on net sales of the product, of which 9% is allocated to the Company and 1% to another party as detailed in Note 16 – Commitments and Contingencies. The Company also receives a margin on supplies of Tyvaso DPI that it manufactures for UT. 0.10 0.09 0.01 Basis of Presentation — The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

The key metric utilized by the CODM to assess resource allocation and performance is the Company’s segment net income (loss), which is the same as the consolidated net income (loss) reported in the consolidated statements of operations. The CODM also analyzes the Company's consolidated net income (loss) to evaluate its return on segment assets and to establish budgets and forecasts. The table below shows the details of the Company’s segment revenues and significant expense categories regularly provided to and reviewed by the CODM and other significant segment items included in consolidated net income (loss) in the consolidated statements of operations:

The table below shows the details <div style="font-size:10pt;font-family:Times New Roman;">of the Company’s segment revenues and significant expense categories regularly provided to and reviewed by the CODM and other significant segment items included in consolidated net income (loss) in the consolidated statements of operations:</div> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Revenues</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Afrezza</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">64,041</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">54,914</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">43,316</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">V-Go</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18,288</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">19,115</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">12,931</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Collaborations and services</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">100,840</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">52,954</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">27,924</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Royalties</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">102,335</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">71,979</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">15,599</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total revenues</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">285,504</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">198,962</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">99,770</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Less significant segment expenses (income):</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cost of goods sold – commercial</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">17,429</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">20,863</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">16,003</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cost of revenue – collaborations and services</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">59,173</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">41,908</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">41,494</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Research and development</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">45,893</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">31,283</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">19,721</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Selling</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">49,191</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">51,776</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">53,753</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">General and administrative</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">45,138</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">42,538</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">37,720</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest income, net</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(12,615</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(6,154</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(2,513</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest expense, net</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">37,981</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">25,161</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">24,769</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Loss on settlement of debt</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">20,444</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Other segment items(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(4,718</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">3,525</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(3,777</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Consolidated net income (loss)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">27,588</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(11,938</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(87,400</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> </tr> </table> _________________________<div class="item-list-element-wrapper" style="margin-left:4.528%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Includes primarily (gain) loss on foreign currency transaction and gain on bargain purchase, offset by loss on available-for-sale securities and income tax expense. </div></div>

64041000

54914000

43316000

18288000

19115000

12931000

100840000

52954000

27924000

102335000

71979000

15599000

285504000

198962000

99770000

17429000

20863000

16003000

59173000

41908000

41494000

45893000

31283000

19721000

49191000

51776000

53753000

45138000

42538000

37720000

-12615000

-6154000

-2513000

37981000

25161000

24769000

20444000

-4718000

3525000

-3777000

27588000

-11938000

-87400000

P12M

0.10 0.10 0.09 0.01

The Company’s net revenue and cost of revenue and goods sold as shown on the consolidated statement of operations is comprised of revenue generated from product sales, services and royalties as shown below (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="10" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2022</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Net revenue:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Product revenue (1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">178,557</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">126,054</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">81,073</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Services (2)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,612</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">929</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,098</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Royalties (3)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">102,335</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">71,979</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">15,599</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total net revenue</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">285,504</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">198,962</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">99,770</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>_________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.667%;text-align:left;">(1)<div style="width:100%;display:inline;">Amounts represent the revenue from Afrezza and V-Go sales to wholesalers and specialty pharmacies and Tyvaso DPI to UT.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.667%;text-align:left;">(2)<div style="width:100%;display:inline;">Amounts represent revenue generated from the Company’s collaboration arrangements, including Next-Gen R&D Services (as defined in Note 11) for UT as well as arrangements with other collaboration partners. See Note 11 – Collaborations, Licensing and Other Arrangements. </div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.667%;text-align:left;">(3)<div style="width:100%;display:inline;">Amounts represent royalties on UT’s net revenue from Tyvaso DPI sales.</div></div> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="10" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2022</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Cost of goods sold and cost of revenue:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Product revenue</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">73,737</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">61,989</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">55,071</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Services</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">2,865</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">782</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">2,426</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total cost of goods sold and cost of revenue</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">76,602</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">62,771</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">57,497</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>

178557000

126054000

81073000

4612000

929000

3098000

102335000

71979000

15599000

285504000

198962000

99770000

73737000

61989000

55071000

2865000

782000

2426000

76602000

62771000

57497000

P12M

Cost of Goods Sold — Cost of goods sold includes material, labor costs and manufacturing overhead. Cost of goods sold also includes a component of current period manufacturing costs in excess of costs capitalized into inventory (“excess capacity costs”). These costs, in addition to the impact of the revaluation of inventory for standard costing, and write-offs of inventory are recorded as expenses in the period in which they are incurred, rather than as a portion of inventory costs. Cost of goods sold excludes the cost of insulin purchased under the Company’s Insulin Supply Agreement (the “Insulin Supply Agreement”) with Amphastar Pharmaceuticals, Inc. (“Amphastar”). All insulin inventory on hand was written off and the full purchase commitment contract to purchase future insulin was accrued as a recognized loss on purchase commitments in prior years.

Cost of Revenues – Collaborations and Services — Cost of revenues for collaborations and services includes material, labor costs, manufacturing overhead, and excess capacity costs. These costs, in addition to the write-offs of inventory are recorded as expenses in the period in which they are incurred, rather than as a portion of inventory costs. Cost of revenues for collaborations and services also includes the cost of product development.

Research and Development ("R&D") — Clinical trial expenses result from obligations under contracts with vendors, consultants and clinical site agreements in addition to internal costs associated with conducting clinical trials. R&D costs are expensed as incurred. Clinical study and certain research costs are recognized over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. Nonrefundable advance payments for services to be received in the future for use in R&D activities are recorded as prepaid assets and expensed in the period when the services are performed.

Cash, Cash Equivalents and Restricted Cash — The Company considers all highly liquid investments with original or remaining maturities of 90 days or less at the time of purchase, that are readily convertible into cash to be cash equivalents. As of December 31, 2024 and 2023, cash equivalents were comprised of money market funds, U.S. Treasury Securities, corporate bonds and commercial paper with original maturities less than 90 days from the date of purchase.The Company records restricted cash when cash and cash equivalents are restricted as to withdrawal or usage. Restricted cash under a letter of credit issued in connection with a facility lease assumed by the Company that will not be available for use in the Company’s operations within 12 months of the reporting date is presented in non-current assets. See Note 3 – Pulmatrix Transaction.

Held-to-Maturity Investments — The Company’s held-to-maturity investments generally consist of commercial paper, corporate notes or bonds and U.S. Treasury securities. These investments with maturities less than 12 months are included in short-term investments and investments with maturities in excess of 12 months are included in long-term investments in the consolidated balance sheets. The accretion of these investments, net of amortization, is recognized as interest income in the consolidated statements of operations. The Company periodically assesses its ability to hold these investments to maturity, whether it has any intention to sell these investments, determines the fair value of these investments using level 3 inputs and assesses whether there were other-than-temporary impairments associated with these investments. The Company historically has had the intent to hold its investments until maturity; therefore, these investments were stated at amortized cost as of December 31, 2023. Effective October 1, 2024, the Company reclassified its held-to-maturity investments to available-for-sale to align with potential business needs, and not as a result of a change in the Company's ability to hold the investments to maturity. See Note 4 – Investments.

Available-for-Sale Investments — The Company's available-for-sale investments consist primarily of highly liquid money market funds, commercial bonds and paper, and U.S. Treasury securities that are intended to facilitate liquidity and capital preservation. Additionally, the Company has two convertible promissory notes issued by Thirona Bio, Inc. ("Thirona") which it classifies as an available-for-sale investment. Available-for-sale investments are measured at fair value with realized gains and losses and unrealized losses related to credit risk reported in other income (expense) in the consolidated statements of operations. Unrealized holding gains and losses are excluded from earnings and reported in other comprehensive income (loss) until realized. These investments with maturities less than 12 months are included in short-term investments and investments with maturities in excess of 12 months are included in long-term investments in the consolidated balance sheets. The accretion of these investments, net of amortization, is recognized as interest income in the consolidated statements of operations. The Company periodically assesses whether it has any intention to sell these investments, determines the fair value of these investments using level 3 inputs and assesses whether there were other-than-temporary impairments associated with these investments. See Note 4 – Investments.

Accounts Receivable and Allowance for Credit Losses — Accounts receivable are recorded at the invoiced amount and are not interest bearing. Accounts receivable are presented net of an allowance for credit losses if there are estimated losses resulting from the inability of its customers to make required payments. The Company makes ongoing assumptions relating to the collectability of its accounts receivable in its calculation of the allowance for credit losses. The allowance for expected credit losses is based primarily on past collections experience relative to the length of time receivables are past due. However, when available evidence reasonably supports an assumption that future economic conditions will differ from current and historical payment collections, an adjustment is reflected in the allowance for expected credit losses. Accounts receivable are also presented net of an allowance for product returns and trade discounts and allowances because the Company’s customers have the right of setoff for these amounts against the related accounts receivable.

Impairment of Long-Lived Assets — Long-lived assets include property and equipment, operating lease right-of-use assets and other intangible assets. The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Assets are considered to be impaired if the carrying value is considered to be unrecoverable.If the Company believes an asset to be impaired, the impairment recognized is the amount by which the carrying value of the asset exceeds the fair value of the asset. Fair value is determined using the market, income or cost approaches as appropriate for the asset. Any write-downs are treated as permanent reductions in the carrying amount of the asset and recognized as an operating loss.

Recognized Loss on Purchase Commitments — The Company reviews the terms of the long-term supply agreements and assesses the need for any accrual for estimated losses, such as lower of cost or net realizable value, that will not be recovered by future product sales. The recognized loss on purchase commitments is reduced as inventory items are received or as the liability is extinguished. See Note 16 – Commitments and Contingencies. Milestone Rights Liability — In July 2013, in conjunction with the execution of a (now repaid) loan agreement with Deerfield Private Design Fund II, L.P. and Deerfield Private Design International II, L.P. (collectively, “Deerfield”), the Company entered into a Milestone Rights Purchase Agreement (the “Milestone Rights Agreement”) pursuant to which the Company issued certain milestone rights to Deerfield Private Design Fund II, L.P. and Horizon Santé FLML SÀRL, (the “Original Milestone Purchasers”). The foregoing milestone rights provided the Original Milestone Purchasers certain rights to receive payments of up to $90.0 million upon the occurrence of specified strategic and Afrezza sales milestones, $50.0 million of which remains payable as of December 31, 2024, upon achievement of such milestones (collectively, the “Milestone Rights”). In December 2021, the Milestone Rights were purchased by Barings Global Special Situations Credit Fund 4 (Delaware), L.P. and Barings Global Special Situations Credit 4 (LUX) S.ar.l. (together the “Milestone Purchasers”). As a result, the Milestone Purchasers have assumed the obligations of the Original Milestone Purchasers and are now entitled to all rights under the Milestone Rights Agreement. The Milestone Rights liability is reported at fair value at the date of the agreement which is periodically offset against payments. See Note 12 – Fair Value of Financial Instruments.The initial fair value estimate of the Milestone Rights was calculated using the income approach in which the cash flows associated with the specified contractual payments were adjusted for both the expected timing and the probability of achieving the milestones and discounted to present value using a selected market discount rate. The expected timing and probability of achieving the milestones was developed with consideration given to both internal data, such as progress made to date and assessment of criteria required for achievement, and external data, such as market research studies. The discount rate was selected based on an estimation of required rate of returns for similar investment opportunities using available market data. The Milestone Rights liability is remeasured as the specified milestone events are achieved. Specifically, as each milestone event is achieved, the portion of the initially recorded Milestone Rights liability that pertains to the milestone event being achieved, is remeasured to the amount of the specified related milestone payment. The resulting change in the balance of the Milestone Rights liability due to remeasurement is recorded in the Company’s consolidated statements of operations as interest expense. Furthermore, the Milestone Rights liability is reduced upon the settlement of each milestone payment. As a result, each milestone payment would be effectively allocated between a reduction of the recorded Milestone Rights liability and an expense representing a return on a portion of the Milestone Rights liability paid to the investor for the achievement of the related milestone event. See Note 9 – Accrued Expenses and Other Current Liabilities and Note 16 – Commitments and Contingencies. 90000000.0 50000000

Fair Value of Financial Instruments —The Company applies various valuation approaches in determining the fair value of its financial assets and liabilities within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: Level 1 — Quoted prices for identical instruments in active markets.Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.Level 3 — Significant inputs to the valuation model are unobservable.

Net Income (Loss) Per Share of Common Stock — Basic net income or loss per share ("EPS") is computed by dividing net income or loss by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the effect of potential common stock issuances resulting from assumed stock option exercises and vesting of restricted stock units, unless the effect is anti-dilutive, when applying the treasury stock method, as well as potential dilution under the if-converted method for convertible debt securities. For periods where the Company has presented a net loss, potentially dilutive securities are excluded from the computation of diluted EPS as they would be anti-dilutive.

Recently Issued Accounting Standards — In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures, which requires incremental disclosure of segment information on an interim and annual basis. This ASU is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective application to all prior periods presented in the financial statements is required for public entities. The Company has adopted this ASU for the year ended December 31, 2024 and included disclosures required thereunder in Note 1 – Description of Business – Segment Information. Adoption of this ASU did not have a material impact on the Company's financial position or results of operations.In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). This ASU requires disaggregated information about a public entity’s effective tax rate reconciliation as well as additional information on income taxes paid. This ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company does not anticipate that adoption of this ASU will have a material impact on the Company's financial position or results of operations.In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses, which amends ASC 220-40, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40), to require disaggregated disclosure of income statement expenses for public entities. This ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. The objective of this ASU is to address requests from investors for more detailed information about the types of expenses included in commonly presented expense captions. This ASU is effective for all public entities for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company does not anticipate that adoption of this ASU will have a material impact on the Company's financial position or results of operations.In November 2024, the FASB issued ASU No. 2024-04, Induced Conversions of Convertible Debt Instruments, which amends ASC 470-20, Debt – Debt with Conversion and Other Options (Subtopic 470-20), to clarify the requirements related to accounting for the settlement of a debt instrument as an induced conversion. This ASU is intended to improve the relevance and consistency in application of the induced conversion guidance in Subtopic 470-20 for (a) convertible debt instruments with cash conversion features and (b) debt instruments that are not currently convertible. For all entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of a reporting period if the entity has also adopted ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, for that period. The Company has previously adopted ASU No. 2020-06, and elected to early-adopt ASU No. 2024-04 prospectively for the year ended December 31, 2024 in the induced conversion of its senior convertible notes. There was no impact to accumulated deficit or net income (loss) as a result of the Company's adoption of ASU No. 2024-04. See Note 10 – Borrowings.From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s consolidated financial position or results of operations upon adoption.

2024-05-28

2024-07-08

4300000 10057000

959000

15316000

10057000

5259000

4300000

0.0725

700000

Effective Date through November 30, 2033

100000

0.03

100000

The amortized cost basis, net unrealized gains transferred to accumulated other comprehensive income, and resulting fair market value of the Investments as of the October 1, 2024 reclassification date were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:42.971%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.998%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:8.878%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.14%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:8.878%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.14%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:8.078000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.14%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.7780000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="16" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">October 1, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Investment Level</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Amortized Cost (Carrying Value)</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Gross Unrealized Holding Gains</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Gross Unrealized Holding Losses</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Estimated Fair Value</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Money market funds and other</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 1</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">31,298</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">31,298</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Commercial bonds and paper</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 2</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">57,477</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(12</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">57,733</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">U.S. Treasury Securities</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 2</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">158,818</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">700</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">159,516</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total cash equivalents and investments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">247,593</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">968</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(14</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">248,547</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Less: cash equivalents</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(41,582</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(41,582</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Total Investments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">206,011</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">968</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(14</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">206,965</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>The fair values of the Investments are disclosed below (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:44.247%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:9.886%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.8870000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:8.507%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.8870000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.8870000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="16" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Available-for-Sale Investments</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Investment Level</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Amortized Cost (Carrying Value)</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Gross Unrealized Holding Gains</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Gross Unrealized Holding Losses</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Estimated Fair Value</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Money market funds and other</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 1</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">14,745</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">14,745</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Commercial bonds and paper</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 2</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">44,145</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">49</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(24</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">44,170</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">U.S. Treasury Securities</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 2</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">112,074</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">184</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(29</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">112,229</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total cash equivalents and investments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">170,964</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">233</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(53</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">171,144</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Less: cash equivalents</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(14,745</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(14,745</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Total Investments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">156,219</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">233</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(53</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">156,399</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:44.247%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:9.886%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.8870000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:8.507%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.8870000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.141%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.8870000000000005%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="16" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Held-to-Maturity Investments</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Investment Level</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Amortized Cost (Carrying Value)</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Gross Unrealized Holding Gains</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Gross Unrealized Holding Losses</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Estimated Fair Value</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Money market funds</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 1</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">69,611</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">69,611</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Commercial bonds and paper</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 2</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">43,251</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">135</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(38</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">43,348</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">U.S. Treasury Securities</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Level 2</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">9,556</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">56</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">9,612</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total cash equivalents and investments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">122,418</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">191</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(38</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">122,571</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Less: cash equivalents</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(58,644</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(58,644</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Total Investments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">63,774</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">191</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(38</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">63,927</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table> -31298000 -31298000 -57477000 -268000 12000 -57733000 -158818000 -700000 2000 -159516000 -247593000 -968000 14000 -248547000

41582000

-206011000 -968000 14000 -206965000

165466000

165662000

115263000

115374000

5498000

5482000

7155000

7197000

170964000

171144000

122418000

122571000

14700000

58600000

-14745000 -4745000 -44145000 -49000 24000 -44170000 -112074000 -184000 29000 -112229000 -170964000 -233000 53000 -171144000

14745000

-156219000 -233000 53000 -156399000 -69611000 -69611000 -43251000 -135000 38000 -43348000 -9556000 -56000 -9612000 -122418000 -191000 38000 -122571000

58644000

-63774000 -191000 38000 -63927000 7300000 1600000 700000 1000000 500000

3000000 5000000

0.06

8000000

0.10

28 35

6300000

6900000

900000

-1600000

200000

900000

0 500000 500000

Accounts receivable, net consists of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.92%;box-sizing:content-box;"></td> <td style="width:1.58%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.96%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.58%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.96%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;">Accounts receivable – commercial</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Accounts receivable, gross</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">22,879</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">20,199</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Wholesaler distribution fees and prompt pay discounts</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(4,186</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(2,469</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Reserve for returns</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(8,858</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(6,215</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Allowance for credit losses</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(157</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total accounts receivable – commercial, net</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">9,835</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,358</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Accounts receivable – collaborations and services(1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,969</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,543</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:30pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total accounts receivable, net</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">11,804</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,901</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>___________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Includes the $1.1 million regulatory milestone payment receivable from Cipla. See Note 11 – Collaborations, Licensing and Other Arrangements – Cipla License and Distribution Agreement. </div></div>

22879000

20199000

4186000 2469000 8858000 6215000

157000

9835000

11358000

1969000

3543000

11804000

14901000

1100000

200000

3 0.73 0.88

0.50 0.50 1 0.98 0.98 The Company recognizes revenue net of gross-to-net adjustments. The activities and ending reserve balance consists of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Prompt Pay Discount Reserve, Allowance for Wholesale Distribution Fees and Reserves for Returns:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Beginning balance</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">8,841</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6,644</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Provisions</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">20,336</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">18,977</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Deductions</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(16,133</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(16,780</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Ending balance</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">13,044</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">8,841</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table> 8841000 6644000 20336000 18977000 -16133000 -16780000 13044000 8841000

6. Inventories<div style="font-size:10pt;font-family:Times New Roman;">Inventories consist of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Raw materials</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6,184</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6,262</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Work-in-process</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,661</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">13,646</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Finished goods</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">11,041</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">8,637</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total inventory</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">27,886</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">28,545</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table></div>Work-in-process and finished goods as of December 31, 2024 and 2023 include conversion costs and exclude the cost of insulin. All insulin inventory on hand was written off and the projected loss on the purchase commitment contract to purchase future insulin was accrued in prior years. Raw materials inventory included $0.8 million of pre-launch inventory as of December 31, 2024 and 2023, which consisted of FDKP received in November 2019. The Company analyzed its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated realizable value. The Company also performed an assessment of projected sales and evaluated the lower of cost or net realizable value and the potential excess inventory on hand as of December 31, 2024 and 2023. Inventory that did not meet acceptable standards or was forecasted to become obsolete due to expiration is reserved for inventory obsolescence in the consolidated balance sheets and recorded in costs of goods sold in the consolidated statements of operations. As a result of these assessments there were inventory write-offs of $3.9 million and $4.6 million for the years ended December 31, 2024 and 2023, respectively.

Inventories consist of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Raw materials</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6,184</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6,262</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Work-in-process</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,661</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">13,646</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Finished goods</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">11,041</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">8,637</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total inventory</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">27,886</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">28,545</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>

6184000

6262000

10661000

13646000

11041000

8637000

27886000

28545000

800000

3900000

4600000

Property and equipment consisted of the following (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.2%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.26%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.780000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.780000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Estimated Useful Life (Years)</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Land</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">875</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">875</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Buildings</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">39-40</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">17,389</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">17,389</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Building improvements(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5-40</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">90,813</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">46,357</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Machinery and equipment</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3-15</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">64,879</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">60,410</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Furniture, fixtures and office equipment</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5-10</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,122</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,070</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Computer equipment and software</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8,814</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8,658</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Construction in progress(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6,149</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">48,997</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total property and equipment</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">192,041</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">185,756</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Less accumulated depreciation</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(106,676</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(101,536</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total property and equipment, net</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">85,365</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">84,220</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>___________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">During the year ended December 31, 2024, the Company transferred $43.5 million from construction in progress to building improvements for assets placed in service related to the expansion of the Company's manufacturing facility.</div></div>

875000

P39Y

P40Y

17389000

P5Y

P40Y

90813000

46357000

P3Y

P15Y

64879000

60410000

P5Y

P10Y

3122000

3070000

P3Y

8814000

8658000

6149000

48997000

192041000

185756000

106676000

101536000

85365000

84220000

43500000

7300000

4500000

3300000

2200000

2100000

100000 600000

1900000

P7Y6M

1200000

235000

965000

1200000

127000

1073000

4300000

5500000

235000

5265000

1200000

127000

1073000

100000

200000

Accrued expenses and other current liabilities were comprised of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Salary and related expenses</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">20,570</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">19,506</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Discounts and allowances for commercial product sales</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,393</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,541</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Accrued interest</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">303</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,153</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Deferred lease liability</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,423</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,423</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Current portion of milestone rights liability(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">639</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">752</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Returns reserve for acquired product(2)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">804</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">601</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Professional fees</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,311</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">979</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">State income tax liability</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">49</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,561</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Other</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4,801</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">5,520</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Accrued expenses and other current liabilities</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">40,293</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">42,036</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>___________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">See Note 16 – Commitments and Contingencies under Contingencies – Milestone Rights.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">See Note 16 – Commitments and Contingencies under Loss Contingencies – Returns Reserve for Acquired Product.</div></div>

20570000

19506000

9393000 9541000

303000

2153000

2423000

1423000

639000 752000 804000 601000

1311000

979000

49000 1561000

4801000

5520000

40293000

42036000

The provision for discounts and allowances for commercial product sales is reflected as a component of net revenues. The activities and ending balances consisted of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Discounts and allowances for commercial product sales:</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Beginning balance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,541</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8,504</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Provisions</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">33,462</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">34,980</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Deductions</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(33,610</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(33,943</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Ending balance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,393</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,541</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table> 9541000 8504000 33462000 34980000 33610000 33943000 9393000 9541000

10. Borrowings<div style="font-size:10pt;font-family:Times New Roman;">Carrying amount of the Company’s borrowings consisted of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Senior convertible notes</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">36,051</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">226,851</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">MidCap credit facility</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">33,019</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Mann Group convertible note</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">8,829</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total debt – net carrying amount</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">36,051</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">268,699</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table> </div><div style="font-size:12pt;font-family:Times New Roman;">The following table provides a summary of the Company’s principal balance of debt and key terms: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:43.42%;box-sizing:content-box;"></td> <td style="width:1.12%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.699999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.74%;box-sizing:content-box;"></td> <td style="width:9.7%;box-sizing:content-box;"></td> <td style="width:1.74%;box-sizing:content-box;"></td> <td style="width:9.7%;box-sizing:content-box;"></td> <td style="width:1.74%;box-sizing:content-box;"></td> <td style="width:9.7%;box-sizing:content-box;"></td> <td style="width:1.74%;box-sizing:content-box;"></td> <td style="width:9.7%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="5" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Amount Due</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td colspan="5" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Terms</td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Annual Interest Rate</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Maturity Date</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Conversion Price</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Senior convertible notes(1)</td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">$36.3 million</td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">$230.0 million</td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">2.50%</td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">March 2026</td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">$5.21 per share</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">MidCap credit facility(2)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">$33.3 million</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">one-month SOFR (1% floor) plus 6.25%; cap of 8.25%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">August 2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">N/A</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Mann Group convertible note(2)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">$8.8 million</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">2.50%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">December 2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">$2.50 per share</td> </tr> </table>_________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Partial exchange in December 2024.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Extinguished in April 2024.</div></div></div> <div style="font-size:12pt;font-family:Times New Roman;">The maturities of the Company’s borrowings as of December 31, 2024 are as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.04%;box-sizing:content-box;"></td> <td style="width:2.08%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.88%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Amounts</td> <td style="padding-top:0.01in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">36,319</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total principal payments</td> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">36,319</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Debt issuance costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(268</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total debt</td> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">36,051</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div> Senior convertible notes – In March 2021, the Company issued $230.0 million aggregate principal amount of senior convertible notes (the “senior convertible notes”) in a private offering. The senior convertible notes were issued pursuant to an indenture, dated March 4, 2021 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee.The senior convertible notes are general unsecured obligations of the Company and will mature on March 1, 2026, unless earlier converted, redeemed or repurchased by the Company. The senior convertible notes bear cash interest from March 4, 2021 at an annual rate of 2.50% payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021. The senior convertible notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding December 1, 2025, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock, par value $0.01 per share, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the senior convertible notes on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period in which the trading price (as defined in the Indenture) per $1,000 principal amount of the senior convertible notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; (3) if the Company calls such Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the senior convertible notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events as set forth in the Indenture. On or after December 1, 2025 until the close of business on the business day immediately preceding the maturity date, holders may convert all or any portion of their Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the Indenture.The initial conversion rate is 191.8281 shares of common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $5.21 per share of common stock). The initial conversion price of the senior convertible notes represents a premium of approximately 30% to the last reported sale price of the common stock on the Nasdaq Global Market on March 1, 2021. The conversion rate for the senior convertible notes is subject to adjustment under certain circumstances in accordance with the terms of the Indenture, but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date of the senior convertible notes or if the Company delivers a notice of redemption in respect of the senior convertible notes, the Company will, in certain circumstances, increase the conversion rate of the senior convertible notes for a holder who elects to convert its senior convertible notes in connection with such a corporate event or convert its Notes called for redemption during the related redemption period (as defined in the Indenture), as the case may be.The Company may redeem for cash all or any portion of the senior convertible notes, at its option, on or after March 6, 2024 and prior to the 36th scheduled trading day immediately preceding the maturity date, if the last reported sale price of common stock has been at least 130% of the conversion price for the senior convertible notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the senior convertible notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company elects to redeem less than all of the outstanding senior convertible notes, at least $75.0 million aggregate principal amount of senior convertible notes must be outstanding and not subject to redemption as of the relevant redemption notice date. No sinking fund is provided for the senior convertible notes.If the Company undergoes a fundamental change (as defined in the Indenture), then, subject to certain conditions and except as described in the Indenture, holders may require the Company to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the senior convertible notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.The Indenture includes customary covenants and sets forth certain events of default after which the senior convertible notes may be declared immediately due and payable. If certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries) occur, 100% of the principal of and accrued and unpaid interest on the senior convertible notes will automatically become due and payable. If an event of default with respect to the senior convertible notes, other than certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries), occurs and is continuing, the trustee, by notice to the Company, or the holders of at least 25% in principal amount of the outstanding senior convertible notes by notice to the Company and the trustee, may, and the trustee at the request of such holders shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the senior convertible notes to be due and payable. Notwithstanding the foregoing, the Indenture provides that, to the extent the Company so elects, the sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture will, for the first 365 days after the occurrence of such an event of default consist exclusively of the right to receive additional interest on the senior convertible notes as set forth in the Indenture.The Indenture provides that the Company shall not consolidate with or merge with or into, or sell, convey, transfer or lease all or substantially all of the consolidated properties and assets of the Company and its subsidiaries, taken as a whole, to, another person (other than any such sale, conveyance, transfer or lease to one or more of the Company’s direct or indirect wholly owned subsidiaries), unless: (i) the resulting, surviving or transferee person (if not the Company) is a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and such corporation (if not the Company) expressly assumes by supplemental indenture all of the Company’s obligations under the senior convertible notes and the Indenture; and (ii) immediately after giving effect to such transaction, no default or event of default has occurred and is continuing under the Indenture.The Company’s net proceeds from the March 2021 offering were approximately $222.7 million, after deducting the initial purchasers’ discounts and commissions and the estimated offering expenses payable by the Company. As of December 31, 2024 and 2023, the unamortized debt issuance cost was $0.3 million and $3.1 million, respectively.On December 17, 2024, the Company entered into separate, privately negotiated exchange agreements (the "Exchange Agreements") with certain holders (the “Holders”) of the senior convertible notes. Under the terms of the Exchange Agreements, the Holders agreed to exchange an aggregate principal amount of approximately $193.7 million of the senior convertible notes in exchange for an aggregate of 26,749,559 shares of the Company’s common stock. In addition, pursuant to the exchange agreements, the Company made an aggregate cash payment of approximately $89.2 million to the Holders for additional exchange consideration. Immediately following the exchange, approximately $36.3 million in aggregate principal amount of the senior convertible notes remained outstanding. The exchange of the senior convertible notes resulted in an inducement loss of $13.4 million included in loss on settlement of debt in the consolidated statements of operations for the year ended December 31, 2024. MidCap credit facility — In August 2019, the Company entered into the MidCap credit facility and borrowed the first advance of $40.0 million (“Tranche 1”) in August 2019 and the second advance of $10.0 million (“Tranche 2”) in December 2020. In April 2021, $10.0 million was prepaid. Tranche 1 and Tranche 2 accrued interest at an annual rate equal to the lesser of (i) 8.25% and (ii) the one-month Secured Overnight Financing Rate ("SOFR") (subject to a one-month floor of 1.00%) plus 6.25%. Interest on each term loan advance was due and payable monthly in arrears. Principal on each term loan advance under Tranche 1 and Tranche 2 was payable in 24 equal monthly installments that began September 1, 2023.During the three months ended March 31, 2024, the Company made $5.0 million in principal payments on the MidCap credit facility. On April 1, 2024, the Company exercised its option to prepay in full all outstanding indebtedness, consisting of $28.3 million in principal and $0.2 million in accrued interest, and terminated all commitments and obligations under the MidCap credit facility that would have matured on August 1, 2025 in exchange for a payment of $31.6 million, including an exit fee of $2.8 million which is 7.00% of the initial Tranche 1 balance of $40.0 million, and a prepayment fee of $0.3 million which is 1.00% of principal prepaid. Additionally, unamortized debt discount and capitalized prepayment fees totaling $0.2 million were written off, resulting in a loss on early extinguishment of debt of $3.3 million included in loss on settlement of debt in the consolidated statements of operations. In connection with the repayment of outstanding indebtedness by the Company, all liens, mortgages and security interests in any assets or property securing the obligations under the MidCap credit facility were automatically terminated and released and the Company was automatically released from all guarantees. Mann Group convertible note — In August 2019, the Company issued a $35.0 million note that was convertible into shares of the Company’s common stock at $2.50 per share (the “Mann Group convertible note”) as part of a restructuring of its then existing indebtedness to Mann Group. The Mann Group convertible note accrued interest at the rate of 2.5% per year on the principal amount, payable quarterly in arrears on the first day of each calendar quarter, with a maturity date of December 31, 2025. The principal and any accrued and unpaid interest under the Mann Group convertible was convertible, at the option of Mann Group, at any time on or prior to the close of business on the business day immediately preceding the stated maturity date, into shares of the Company’s common stock at a conversion rate of 400 shares per $1,000 of principal and/or accrued and unpaid interest, which is equal to a conversion price of $2.50 per share. Interest on the convertible note was payable in kind by adding the amount thereof to the principal amount; provided that with respect to interest accruing from and after January 1, 2021, the Company had the option to pay any such interest on any interest payment date, if certain conditions were met, in shares of the Company’s common stock at a price per share equal to the last reported sale price on the trading day immediately prior to the payment date. Pursuant to the terms of the Mann Group convertible note, Mann Group converted $3.0 million of accrued interest and $7.0 million of principal into 1.2 million shares and 2.8 million shares, respectively, of the Company’s common stock in the fourth quarter of 2020. During the year ended December 31, 2021, Mann Group converted $0.4 million of interest and $9.6 million of principal into 4,000,000 shares of common stock. During the year ended December 31, 2022, Mann Group converted $10.0 million of principal and capitalized interest into 4,000,000 shares of common stock. In addition, the Company paid $0.3 million of interest by issuing the Mann Group 75,487 shares of common stock during the year ended December 31, 2022. During the year ended December 31, 2023, Mann Group converted $0.2 million of interest into 50,844 shares of common stock. During the year ended December 31, 2024, Mann Group converted $0.1 million of interest into 15,285 shares of common stock. On April 2, 2024, the Company and Mann Group agreed to discharge and terminate the Mann Group convertible note. As of April 2, 2024, the outstanding principal balance of the Mann Group convertible note plus accrued interest was $8.9 million and was convertible at Mann Group’s option into 3,554,198 shares of common stock of the Company. The Company and Mann Group agreed to terminate all outstanding indebtedness, rights and obligations under the Mann Group convertible note in exchange for (i) the Company’s issuance to Mann Group of 1,500,000 shares of the Company’s common stock converted at the contractual rate of $2.50 per share and (ii) the Company’s payment to Mann Group of $8.9 million, which represented the market value of 2,054,198 shares of common stock of the Company on April 2, 2024 to settle the remaining principal and interest of $5.1 million, after the conversion noted in (i) above. Termination of the Mann Group convertible note resulted in a loss on early extinguishment of debt of $3.7 million included in loss on settlement of debt in the consolidated statements of operations. <div style="font-size:12pt;font-family:Times New Roman;">Amortization of the premium and accretion of debt issuance costs related to all borrowings for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="10" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2022</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Amortization of debt discount and prepayment fee</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">85</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">423</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">431</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Amortization of debt issuance cost</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,352</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,454</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,453</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table> </div>

36051000

226851000

33019000

8829000

36051000

268699000

36300000

230000000.0

0.025

2026-03

5.21

33300000

0.01

0.0625

0.0825 2025-08

8800000

0.025

2025-12

2.5

36319000

268000

36051000

230000000.0

2026-03-01

0.0250

0.01

20 30 1.30 1000 0.98

191.8281

1000

5.21

0.30

The Company may redeem for cash all or any portion of the senior convertible notes, at its option, on or after March 6, 2024 and prior to the 36th scheduled trading day immediately preceding the maturity date, if the last reported sale price of common stock has been at least 130% of the conversion price for the senior convertible notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the senior convertible notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company elects to redeem less than all of the outstanding senior convertible notes, at least $75.0 million aggregate principal amount of senior convertible notes must be outstanding and not subject to redemption as of the relevant redemption notice date. No sinking fund is provided for the senior convertible notes.

2024-03-06

1.30 20 30

75000000.0

If certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries) occur, 100% of the principal of and accrued and unpaid interest on the senior convertible notes will automatically become due and payable. If an event of default with respect to the senior convertible notes, other than certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries), occurs and is continuing, the trustee, by notice to the Company, or the holders of at least 25% in principal amount of the outstanding senior convertible notes by notice to the Company and the trustee, may, and the trustee at the request of such holders shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the senior convertible notes to be due and payable. Notwithstanding the foregoing, the Indenture provides that, to the extent the Company so elects, the sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture will, for the first 365 days after the occurrence of such an event of default consist exclusively of the right to receive additional interest on the senior convertible notes as set forth in the Indenture

222700000

300000

3100000

193700000

26749559

89200000

36300000

13400000

40000000.0

10000000.0

0.0825

0.0100 0.0100

0.0625

Principal on each term loan advance under Tranche 1 and Tranche 2 was payable in 24 equal monthly installments that began September 1, 2023

24 24 2023-09-01 2023-09-01 5000000

28300000

200000

31600000

2800000 0.07

40000000

300000 0.01 200000

3300000

35000000.0

2.50

0.025

quarterly

2025-12-31

400

1000

2.50

3000000.0

7000000.0

1200000

2800000

400000

9600000

4000000

10000000.0

4000000

300000

75487

200000

50844

100000

15285 8900000 3554198

1500000

2.5

8900000

2054198 5100000

3700000

Amortization of the premium and accretion of debt issuance costs related to all borrowings for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="10" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2022</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Amortization of debt discount and prepayment fee</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">85</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">423</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">431</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Amortization of debt issuance cost</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,352</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,454</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,453</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table> 85000 423000 431000

1352000

1454000

1453000

11. Collaborations, Licensing and Other Arrangements<div style="font-size:12pt;font-family:Times New Roman;">Revenue from collaborations and services were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">UT CSA(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">96,228</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">52,025</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">24,826</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">UT License Agreement (2)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,865</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">782</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,426</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cipla License and Distribution Agreement</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,247</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">147</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">147</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Amphastar co-promotion agreement</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">500</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Other</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">525</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total revenue from collaborations and services</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">100,840</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">52,954</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">27,924</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>_________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Amounts consist of revenue recognized for Manufacturing Services to UT for the periods presented.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Amounts consist of revenue recognized for Next-Gen R&D Services and R&D Services and License for the periods presented.</div></div></div> <div style="font-size:10pt;font-family:Times New Roman;">The activity related to deferred revenue and the related revenue recognized for collaborations and services is as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Deferred revenue:</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Beginning balance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">78,879</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">39,417</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Additions</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">85,528</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">92,416</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Collaborations and services revenue</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(100,840</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(52,954</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Ending balance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">63,567</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">78,879</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div>United Therapeutics License Agreement — In September 2018, the Company and UT entered into an exclusive global license and collaboration agreement (the “UT License Agreement”), pursuant to which UT is responsible for global development, regulatory and commercial activities with respect to Tyvaso DPI. <div style="font-size:12pt;font-family:Times New Roman;">Total revenue from UT was as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="10" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2022</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Revenue from UT</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">UT CSA</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">96,228</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">52,025</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">24,826</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">UT License Agreement</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,865</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">782</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,426</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Royalties(1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">102,335</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">71,979</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">15,599</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total revenue from UT</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">201,428</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">124,786</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">42,851</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>_________________________</div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Amounts consist of royalties associated with the UT License Agreement. The contract asset related to the royalties receivable of $24.3 million, $21.7 million and $9.1 million as of December 31, 2024, 2023 and 2022, respectively, was included in prepaid expense and other current assets in the consolidated balance sheets and collected in the following quarter.</div></div>Pursuant to the UT License Agreement, the Company receives a 10% royalty on net sales of Tyvaso DPI. In December 2023, the Company sold a 1% royalty on future net sales of Tyvaso DPI to a royalty purchaser, with the Company retaining a 9% royalty. In August 2021, the Company and UT entered into the CSA, pursuant to which the Company is responsible for manufacturing and supplying to UT, and UT is responsible for purchasing from the Company on a cost-plus basis. In addition, UT is responsible for supplying treprostinil at its expense in quantities necessary to enable the Company to manufacture Tyvaso DPI as required by the CSA.The activities and deliverables under the CSA and UT License Agreement resulted in distinct performance obligations which include the: (1) R&D Services and License, (2) Next-Gen R&D Services, and (3) Manufacturing Services. The Manufacturing Services performance obligation will be recognized as control of manufactured products is transferred to UT. The Company will sell product to UT under individual purchase orders which represent distinct performance obligations and is recognized upon transfer of control.There have been various amendments to the UT License Agreement and the CSA since inception. As amended, the term of the CSA continues until December 31, 2031 (unless earlier terminated) and is thereafter renewed automatically for additional, successive two-year terms unless (i) UT provides notice to the Company at least 24 months in advance of such renewal that UT does not wish to renew the CSA or (ii) the Company provides notice to UT at least 48 months in advance of such renewal that the Company does not wish to renew the CSA. The Company and UT each have normal and customary termination rights, including termination for material breach that is not cured within a specific timeframe or in the event of liquidation, bankruptcy or insolvency of the other party. The Company accounted for the December 2024 contract amendment as if it were part of the existing contract. The effect of the modification on the transaction price and the measure of progress towards completion was de minimis. Therefore, the modification did not result in a change in the activities and deliverables under the CSA.During 2024, the Company also entered into additional agreements for individual performance obligations which are accounted for separately as they are distinct from Manufacturing Services and offered at a standalone selling price. Revenue is recognized at a point in time as services are rendered. Also during 2024, the Company and UT concluded the Next-Gen R&D Services performance obligation, which resulted in the recognition of $2.9 million of deferred revenue.As of December 31, 2024, deferred revenue from UT consisted of $62.4 million, of which $12.3 million was classified as current and $50.1 million was classified as long-term on the consolidated balance sheet. As of December 31, 2023, deferred revenue consisted of $77.5 million, of which $8.9 million was classified as current and $68.6 million was classified as long-term on the consolidated balance sheet. The Company determined that the revenue recognition associated with the facility expansion should be combined with the Manufacturing Services performance obligation.Thirona Collaboration Agreement — In June 2021, the Company and Thirona entered into a collaboration agreement to evaluate the therapeutic potential of Thirona’s compound for the treatment of fibrotic pulmonary diseases. If initial studies are promising, the Company can exercise certain rights to seek a full license to the compound for clinical development and commercialization. The parties will perform their respective obligations and provide reasonable support for research, clinical development and regulatory strategy. The collaboration agreement was accounted for under ASC 808, Collaborative Agreements; however, no consideration was exchanged between the parties. The costs incurred by the Company were expensed as R&D in the consolidated statements of operations. On February 28, 2023, the collaboration agreement was amended to extend the term through June 2024. In accordance with the amendment, the Company agreed to fund a minimum of $1.1 million to be expended on a revised development plan prepared by Thirona, of which $1.1 million had been funded through December 31, 2024.Biomm Supply and Distribution Agreement — In May 2017, the Company and Biomm S.A. (“Biomm”) entered into a supply and distribution agreement for the commercialization of Afrezza in Brazil. Under this agreement, Biomm was responsible for pursuing regulatory approvals of Afrezza in Brazil, including from the Agência Nacional de Vigilância Sanitária (“ANVISA”) and, with respect to pricing matters, from the Camara de Regulação de Mercado de Medicamentos (“CMED”), both of which were received. Biomm commenced product sales in January 2020. No shipments of product were made to Biomm during the year ended December 31, 2024, 2023 or 2022.Cipla License and Distribution Agreement — In May 2018, the Company and Cipla Ltd. (“Cipla”) entered into an exclusive agreement for the marketing and distribution of Afrezza in India and the Company received a $2.2 million nonrefundable license fee. Under the terms of the agreement, Cipla is responsible for obtaining regulatory approvals to distribute Afrezza in India and for all marketing and sales activities of Afrezza in India. The Company is responsible for supplying Afrezza to Cipla. The Company is entitled to an additional regulatory milestone payment, minimum purchase commitment revenue and royalties on Afrezza sales in India once cumulative gross sales have reached a specified threshold. In December 2024, the Central Drugs Standard Control Organisation ("CDSCO") in India approved Afrezza for adults and, accordingly, the Company was entitled to the regulatory milestone payment from Cipla totaling $1.1 million, which was included in accounts receivable, net, in the consolidated balance sheets at December 31, 2024 and collaborations and services revenue in the consolidated statements of operations for the year then ended. The payment was received in the first quarter of 2025. The Company expects to ship product once Cipla obtains the registration certificate and import license.The initial $2.2 million nonrefundable licensing fee was recorded in deferred revenue and is being recognized in net revenue – collaborations over 15 years, representing the estimated period to satisfy the performance obligation. As of December 31, 2024, the deferred revenue balance was $1.2 million, of which $0.1 million was classified as current and $1.1 million was classified as long term in the consolidated balance sheets. As of December 31, 2023, the deferred revenue balance was $1.4 million, of which $0.2 million is classified as current and $1.2 million is classified as long term in the consolidated balance sheets.Amphastar — During the quarter ended December 31, 2024, the Company entered into a co-promotion agreement which provides the terms and conditions upon which Amphastar is marketing Baqsimi (glucagon) nasal powder and the Company's sales force shall promote Baqsimi to designated health care professionals where the Company currently promotes Afrezza. Amphastar is obligated to pay fixed quarterly payments to the Company through December 2025 (the "contract term"). Either party may terminate the agreement or suspend performance upon written notice to the other party at any time during the contract term. The co-promotion agreement may be renewed or extended only upon the mutual written agreement of both parties.The Company identified a single performance obligation that the Company will satisfy over time. The total transaction price of $2.5 million is considered fixed consideration of which $0.5 million was recognized as revenue from collaborations and services in our consolidated statement of operations for the year ended December 31, 2024. The remaining $2.0 million will be recognized based on the measurement of progress as the performance obligation is satisfied through the end of the contract term.

Revenue from collaborations and services were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">UT CSA(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">96,228</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">52,025</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">24,826</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">UT License Agreement (2)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,865</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">782</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,426</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cipla License and Distribution Agreement</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,247</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">147</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">147</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Amphastar co-promotion agreement</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">500</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Other</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">525</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total revenue from collaborations and services</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">100,840</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">52,954</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">27,924</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>_________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Amounts consist of revenue recognized for Manufacturing Services to UT for the periods presented.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Amounts consist of revenue recognized for Next-Gen R&D Services and R&D Services and License for the periods presented.</div></div>

96228000

52025000

24826000

2865000

782000

2426000

1247000

147000

500000

525000

100840000

52954000

27924000

78879000

39417000

85528000 92416000 -100840000 -52954000

63567000

78879000

Total revenue from UT was as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="10" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2022</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Revenue from UT</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">UT CSA</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">96,228</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">52,025</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">24,826</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">UT License Agreement</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,865</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">782</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,426</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Royalties(1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">102,335</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">71,979</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">15,599</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total revenue from UT</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">201,428</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">124,786</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">42,851</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>_________________________Amounts consist of royalties associated with the UT License Agreement. The contract asset related to the royalties receivable of $24.3 million, $21.7 million and $9.1 million as of December 31, 2024, 2023 and 2022, respectively, was included in prepaid expense and other current assets in the consolidated balance sheets and collected in the following quarter

96228000

52025000

24826000

2865000

782000

2426000

102335000

71979000

15599000

201428000

124786000

42851000

24300000

21700000

9100000

0.10 0.01 0.09 There have been various amendments to the UT License Agreement and the CSA since inception. As amended, the term of the CSA continues until December 31, 2031 (unless earlier terminated) and is thereafter renewed automatically for additional, successive two-year terms unless (i) UT provides notice to the Company at least 24 months in advance of such renewal that UT does not wish to renew the CSA or (ii) the Company provides notice to UT at least 48 months in advance of such renewal that the Company does not wish to renew the CSA

2900000

62400000

12300000

50100000

77500000

8900000

68600000

1100000

2018-05

2200000

1100000

2200000

P15Y

1200000

100000

1100000

1400000

200000

1200000

2500000 500000 2000000

The following tables set forth the fair value of the Company’s financial instruments (Level 3 in the fair value hierarchy) (in millions): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Fair Value</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Carrying Value</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Significant Unobservable Inputs (Level 3)</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Financial liabilities:</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Senior convertible notes(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">36.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">46.9</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Milestone rights(2)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">19.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Financing liability(3)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">103.9</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">117.4</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Liability for sale of future royalties(4)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">149.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">156.7</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> </table>_________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis to the straight note with a hypothetical yield of 7.5%, volatility of 49.5% and a Monte Carlo simulation for the value of the conversion feature. A change in yield of + or – 2% would result in a fair value of $46.2 million and $47.6 million, respectively.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Fair value was determined by applying a Monte Carlo simulation method for the calculation of the potential payment and the Geometric Brownian Motion forecasting model to estimate the underlying revenue. Market based inputs and other level 3 inputs were used to forecast future revenue. The key inputs used included a risk-free rate of 4.5%, dividend yield of 0%, volatility of 45.0%, period of 7 years and credit risk of 11.0%. </div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(3)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis with a hypothetical yield of 8.0%. A change in yield of + or – 2% would result in a fair value of $103.1 million and $135.2 million, respectively.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(4)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis with a hypothetical yield of 9.0%. A change in yield of + or – 2% would result in a fair value of $137.9 million and $180.0 million, respectively.</div></div> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="6" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Fair Value</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Carrying Value</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">Significant Unobservable Inputs (Level 3)</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Financial liabilities:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Senior convertible notes(1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">226.9</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">231.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">MidCap credit facility(2)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">33.0</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">35.5</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Mann Group convertible note(3)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">8.8</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">14.4</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Milestone rights(4)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.9</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11.9</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Contingent milestone liability(5)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">0.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">0.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Financing liability(6)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">104.1</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">106.8</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table>__________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis to the straight note with a hypothetical yield of 11%, volatility of 62.7% and a Monte Carlo simulation for the value of the conversion feature. A change in yield of + or – 2% would result in a fair value of $224.1 million and $238.9 million, respectively.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis with a hypothetical yield of 12%. A change in yield of + or – 2% would result in a fair value of $35.0 million and $36.0 million, respectively.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(3)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis with a hypothetical yield of 13% and volatility of 62.7% to the straight note and a binomial option pricing model for the value of the conversion feature. A change in yield of + or – 2% would result in a fair value of $14.2 million and $14.7 million, respectively.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(4)<div style="width:100%;display:inline;">Fair value was determined by applying a Monte Carlo simulation method for the calculation of the potential payment and the Geometric Brownian Motion forecasting model to estimate the underlying revenue. Market based inputs and other level 3 inputs were used to forecast future revenue. The key inputs used included a risk-free rate of 3.88%, dividend yield of 0%, volatility of 50%, period of 8 years and credit risk of 17%. </div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(5)<div style="width:100%;display:inline;">Fair value was determined by using the Monte Carlo simulation method for the calculation of the potential payment and the Geometric Brownian Motion forecasting model to estimate the underlying revenue. Market-based inputs and other level 3 inputs were used to forecast future revenue. The key inputs used included a risk-free rate of 4.01%, dividend yield of 0%, volatility of 43%, period of 15 years and credit risk of 17%. </div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(6)<div style="width:100%;display:inline;">Fair value was determined by applying a discounted cash flow analysis with a hypothetical yield of 9.5%.</div></div>

36100000

46900000

3200000

19200000

103900000

117400000

149600000

156700000

7.5

49.5

0.02

46200000

47600000

4.5

8 0.02

103100000

135200000

9 0.02

137900000

180000000

226900000

231300000

33000000.0

35500000

8800000

14400000

3900000

11900000

300000

104100000

106800000

62.7

0.02

224100000

238900000

12 0.02

35000000

36000000

62.7

0.02

14200000

14700000

3.88

4.01

9.5

800000000

0.01

10000000

0.01

302959782

270034495

50000000

1478090

4.66

6900000

5059856

3.91

19800000

10000000

4000000

75487 50844

3800000

1500000

15285

116400000

26749559

700000

252176

200000

36004

1400000

416099

14. Earnings per Common Share<div style="font-size:10pt;font-family:Times New Roman;">The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">EPS – basic:</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Net income (loss) (numerator)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">27,588</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(11,938</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(87,400</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Weighted average common shares (denominator)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">274,415</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">267,014</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">257,092</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Net income (loss) per share</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.10</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(0.04</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(0.34</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">EPS – diluted:</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Net income (loss)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">27,588</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(11,938</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(87,400</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Weighted average common shares</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">274,415</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">267,014</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">257,092</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Effect of dilutive securities – common shares issuable</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">9,429</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Adjusted weighted average common shares (denominator)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">283,844</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">267,014</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">257,092</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Net income (loss) per share</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.10</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(0.04</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(0.34</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> </tr> </table></div> For the year ended December 31, 2024, diluted net income per share excluded the weighted average effect of 9.9 million shares of RSUs and Market RSUs, 0.6 million options and PNQs and 7.0 million common shares issuable upon conversion of the senior convertible notes, as they were antidilutive. Common shares issuable for the years ended December 31, 2023 and 2022 represent incremental shares of common stock which consist of RSUs, stock options, warrants, and shares that could be issued upon conversion of the senior convertible notes and the Mann Group convertible notes. Potentially dilutive securities outstanding which were considered antidilutive due to net losses are summarized as follows (in shares):<div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.26%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.38%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.26%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.38%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Senior convertible notes</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">44,120,463</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">44,120,463</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">RSUs and Market RSUs(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7,855,144</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18,886,710</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Common stock options and PNQs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8,400,611</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,074,587</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Mann Group convertible notes</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,370,000</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,370,000</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total shares</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">63,746,218</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">75,451,760</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>_________________________ <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:4.26%;box-sizing:content-box;"></td> <td style="width:95.74%;box-sizing:content-box;"></td> </tr> <tr style="height:9pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">(1)</td> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Market RSUs issued in 2022 and 2023 are included at the share delivery of 140% and 0%, respectively, in accordance with a valuation assessment obtained as of December 31, 2023.</td> </tr> </table></div>

27588000

-11938000

-87400000

274415000

267014000

257092000

0.1

-0.04

-0.34

27588000

-11938000

-87400000

274415000

267014000

257092000

9429000

283844000

267014000

257092000

0.1

-0.04

-0.34

9900000

600000

7000000

Potentially dilutive securities outstanding which were considered antidilutive due to net losses are summarized as follows (in shares): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.26%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.38%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.26%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.38%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Senior convertible notes</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">44,120,463</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">44,120,463</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">RSUs and Market RSUs(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7,855,144</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18,886,710</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Common stock options and PNQs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8,400,611</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,074,587</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Mann Group convertible notes</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,370,000</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,370,000</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total shares</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">63,746,218</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">75,451,760</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>_________________________ <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:4.26%;box-sizing:content-box;"></td> <td style="width:95.74%;box-sizing:content-box;"></td> </tr> <tr style="height:9pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">(1)</td> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Market RSUs issued in 2022 and 2023 are included at the share delivery of 140% and 0%, respectively, in accordance with a valuation assessment obtained as of December 31, 2023.</td> </tr> </table>

44120463

7855144

18886710

8400611

9074587

3370000

63746218

75451760

1.40 0

15. Stock Award PlansIn May 2023, the Company’s stockholders, upon recommendation of the Company’s board of directors, approved an amendment to the Company’s 2018 Equity Incentive Plan (the "2018 Plan") to increase the number of shares of common stock that may be issued under the 2018 Plan by 25,000,000 shares. Effective upon the approval of the 2018 Plan by the Company’s stockholders in May 2018, no additional awards have been or may be granted under the 2013 Equity Incentive Plan (the "2013 Plan"). Any Prior Plans’ (as defined below) returning shares will increase the number of shares issuable under the 2018 Plan. The Prior Plans’ returning shares are shares subject to outstanding stock awards granted under the 2013 Plan or the 2004 Equity Incentive Plan (collectively, “Prior Plans”) that, from and after the effective date of the 2018 Plan, (i) expire or terminate for any reason prior to exercise or settlement, (ii) are forfeited, cancelled or otherwise returned to the Company because of the failure to meet a contingency or condition required for the vesting of such shares, or (iii) other than with respect to outstanding stock options and stock appreciation rights granted under the Prior Plans with an exercise or strike price of at least 100% of the fair market value of the underlying common stock on the date of grant, are reacquired or withheld (or not issued) by the Company to satisfy a tax withholding obligation in connection with a stock award.The 2018 Plan provides for the granting of stock awards including stock options and restricted stock units to employees, directors and consultants. The Company’s board of directors or its compensation committee determines eligibility, vesting schedules and criteria, and exercise prices for stock awards granted under the 2018 Plan. Options and restricted stock unit awards under the 2018 Plan, or the Prior Plans expire not more than ten years from the date of the grant and are exercisable upon vesting. Stock options that vest over time generally vest over four years. Current time-based vesting stock option grants vest and become exercisable at the rate of 25% after one year and ratably on a monthly basis over a period of 36 months thereafter. The Company also issues PNQ awards with performance conditions. For PNQs, the Company evaluates the probability that the performance conditions will be met and estimates the service period for recognition of the associated expense. RSUs with time-based vesting generally vest at a rate of 25% per year over four years with consideration satisfied by service to the Company. Certain RSUs issued to non-employee directors vest immediately upon grant, but the underlying shares of common stock will not be delivered until there is a separation of service such as resignation, retirement or death. The Company also issued Market RSUs. The grant date fair value and the effect of the market conditions was estimated using a Monte Carlo valuation. Market RSUs issued during the year ended December 31, 2024 had a grant date fair value of $10.30 per share and will vest on July 15, 2027. The fair value of the Market RSUs was determined using a share price of $4.45, risk-free interest rate of 4.46%, volatility of 60.58%, and a dividend yield of 0%. The number of shares delivered on the vesting date is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from July 1, 2024 until June 30, 2027 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above. The resulting stock-based compensation expense will be recognized over the service period regardless of whether the market conditions are achieved, as long as the service condition is satisfied. <div style="font-size:10pt;font-family:Times New Roman;">The following table summarizes information about the Company’s stock-based award plans as of December 31, 2024: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.177%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.255%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.255%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.255%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Outstanding Options</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Outstanding Restricted Stock Units</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Shares Available for Future Issuance</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2013 Equity Incentive Plan</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,553,415</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2018 Equity Incentive Plan</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,718,551</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">14,128,954</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">21,533,033</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">7,271,966</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,128,954</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">21,533,033</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table></div> Share-based payment transactions are recognized as compensation cost based on the fair value of the instrument on the date of grant. The Company uses the Black-Scholes option valuation model to estimate the grant date fair value of employee stock options. The expected term of an option granted is based on combining historical exercise data with expected weighted time outstanding. Expected weighted time outstanding is calculated by assuming the settlement of outstanding awards is at the midpoint between the remaining weighted average vesting date and the expiration date. The Company recognizes forfeitures as they occur. During the years ended December 31, 2024, 2023 and 2022, the Company recorded RSU and option-based stock compensation expense of $20.6 million, $17.0 million and $12.8 million, respectively, and employee stock purchase plan compensation of $0.7 million, $0.6 million and $0.6 million, respectively.<div style="font-size:10pt;font-family:Times New Roman;">Total stock-based compensation expense recognized in the consolidated statements of operations is included in the following categories (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:54.549%;box-sizing:content-box;"></td> <td style="width:1.42%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.498000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.42%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.498000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.42%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.198%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cost of goods sold</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">357</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,589</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">329</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cost of revenue – collaborations and services</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,701</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">897</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,425</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Research and development</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,238</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,442</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,044</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Selling, general and administrative</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">15,062</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">13,721</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">10,649</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">21,358</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">17,649</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">13,447</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div> <div style="font-size:10pt;font-family:Times New Roman;">The following table summarizes information relating to stock options: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:49.88%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.020000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.18%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Number of Shares</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Weighted Average Exercise Price per Share</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Weighted Average Remaining Contractual Term (Years)</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Aggregate Intrinsic Value ($000)</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of January 1, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">8,400,611</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.39</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4.07</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">15,153</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Granted</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Exercised</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(946,464</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1.70</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Forfeited</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(55,500</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.74</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Expired</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(126,681</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">22.82</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of December 31, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">7,271,966</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.12</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.12</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">32,438</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Exercisable as of December 31, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">6,868,873</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.11</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.18</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">30,770</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table> </div>There were no options granted in the years ended December 31, 2024 and 2023. Total fair value of stock options vested during the year ended December 31, 2024 was de minimis, and $2.8 million and $3.2 million for the years ended December 31, 2023 and 2022, respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $3.5 million, $1.3 million and $2.4 million, respectively. Intrinsic value is measured using the fair market value at the date of exercise for options exercised or as of December 31 for outstanding options, less the applicable exercise price. Cash received from the exercise of options during the years ended December 31, 2024, 2023 and 2022 was approximately $2.9 million, $1.2 million and $3.0 million, respectively. The Company recognized de minimis compensation costs related to the performance-based stock options for the year ended December 31, 2024, and $0.3 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively. As of December 31, 2024 and 2023, there were no unrecognized compensation costs related to performance-based stock options subject to performance conditions.<div style="font-size:10pt;font-family:Times New Roman;">The following table summarizes information relating to restricted stock units: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.873%;box-sizing:content-box;"></td> <td style="width:1.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.903%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.903%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Number of Shares</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Weighted Average Grant Date Fair Value per Share</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of January 1, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">12,363,934</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4.61</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Granted</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7,041,502</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6.79</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Vested</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(4,379,263</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">5.24</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Forfeited</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(897,219</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4.70</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of December 31, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,128,954</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">5.49</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table></div> Total fair value of restricted stock units vested during the years ended December 31, 2024, 2023 and 2022 was $23.0 million, $20.6 million and $4.4 million, respectively. Intrinsic value of restricted stock units vested is measured using the closing share price on the day prior to the vest date. The total grant date fair value of restricted stock units outstanding as of December 31, 2024, 2023 and 2022 was $77.6 million, $57.0 million and $43.2 million, respectively. As of December 31, 2024, there was no unrecognized compensation expense related to options and PNQs and $48.4 million of unrecognized compensation expense related to restricted stock units and market-based stock units, which are expected to be recognized over the weighted average period of 2.29 years. The Company evaluates stock awards with performance conditions as to the probability that the performance conditions will be met and uses that information to estimate the date at which those performance conditions will be met in order to properly recognize stock-based compensation expense over the requisite service period.Employee Stock Purchase PlanThe Company provides all employees, including executive officers, the ability to purchase common stock at a discount under the ESPP. The ESPP is designed to comply with Section 423 of the Internal Revenue Code and provides all employees with the opportunity to purchase up to $25,000 worth of common stock (based on the undiscounted fair market value at the commencement of the offering period) each year at a purchase price that is the lower of 85% of the fair market value of the common stock on either the date of purchase or the commencement of the offering period. An employee may not purchase more than 5,000 shares of common stock on any purchase date. The executives’ rights under the ESPP are the same as those of all other employees.In May 2023, the Company’s stockholders, upon recommendation of the Company’s board of directors, approved an amendment to the Company’s ESPP to increase the number of shares of common stock authorized for issuance under the ESPP by an additional 3,000,000 shares.The Company issued 0.5 million, 0.5 million and 0.7 million shares of common stock pursuant to the ESPP for the years ended December 31, 2024, 2023 and 2022, respectively. There were approximately 2.4 million shares of common stock available for issuance under the ESPP as of December 31, 2024.

25000000

P10Y

P4Y

0.25

P36M

0.25

P4Y

10.30

2027-07-15

4.45

0.0446

0.6058

0.25 0 0.25 0.50 0.50 1 0.75 2 0.90 3

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2024: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.177%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.255%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.255%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.255%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Outstanding Options</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Outstanding Restricted Stock Units</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Shares Available for Future Issuance</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2013 Equity Incentive Plan</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,553,415</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2018 Equity Incentive Plan</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,718,551</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">14,128,954</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">21,533,033</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">7,271,966</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,128,954</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">21,533,033</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>

2553415

4718551

14128954

21533033

7271966

14128954

21533033

20000000

17000000

12800000

700000

600000

357000

1589000

329000

3701000

897000

1425000

2238000

1442000

1044000

15062000

13721000

10649000

21358000

17649000

13447000

The following table summarizes information relating to stock options: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:49.88%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.020000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.18%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Number of Shares</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Weighted Average Exercise Price per Share</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Weighted Average Remaining Contractual Term (Years)</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Aggregate Intrinsic Value ($000)</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of January 1, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">8,400,611</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.39</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4.07</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">15,153</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Granted</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Exercised</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(946,464</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1.70</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Forfeited</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(55,500</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.74</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Expired</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(126,681</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">22.82</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of December 31, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">7,271,966</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.12</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.12</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">32,438</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Exercisable as of December 31, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">6,868,873</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2.11</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.18</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">30,770</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table>

8400611

2.39

P4Y25D

15153000

946464

1.70

55500

2.74

126681

22.82

7271966

2.12

P3Y1M13D

32438000

6868873

2.11

P3Y2M4D

30770000

2800000

3200000

3500000

1300000

2400000

2900000

1200000

3000000.0

300000

100000

The following table summarizes information relating to restricted stock units: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.873%;box-sizing:content-box;"></td> <td style="width:1.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.903%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.66%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.903%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Number of Shares</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">Weighted Average Grant Date Fair Value per Share</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of January 1, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">12,363,934</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4.61</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Granted</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7,041,502</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">6.79</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Vested</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(4,379,263</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">5.24</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Forfeited</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(897,219</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4.70</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Outstanding as of December 31, 2024</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,128,954</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">5.49</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> </table>

12363934

4.61

7041502

6.79

4379263

5.24

897219

4.70

14128954

5.49

23000000

20600000

4400000

77600000 57000000 43200000

48400000

P2Y3M14D

25000

0.85

5000

3000000

500000

700000

2400000

16. Commitments and ContingenciesGuarantees and Indemnifications — In the ordinary course of its business, the Company makes certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. The Company, as permitted under Delaware law and in accordance with its Bylaws, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company’s request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that may enable it to recover a portion of any future amounts paid. The Company believes the fair value of these indemnification agreements is minimal and therefore has not recorded any liability for these indemnities in the consolidated balance sheets. The Company accrues for losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is probable and the amount can be reasonably estimated. No such losses have been recorded to date. Litigation — The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. The Company does not anticipate the final disposition of any matters will have a material adverse effect on the results of operations, financial position or cash flows of the Company. The Company maintains liability insurance coverage to protect the Company’s assets from losses arising out of or involving activities associated with ongoing and normal business operations. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company’s policy is to accrue for legal expenses in connection with legal proceedings and claims as they are incurred. Contingencies – Milestone Rights — In July 2013, the Company entered into the Milestone Rights Agreement with the Original Milestone Purchasers, pursuant to which the Company granted the Milestone Rights to receive payments up to $90.0 million upon the occurrence of specified strategic and sales milestones, of which $50.0 million remains payable to the Milestone Purchasers as of December 31, 2024. The Milestone Rights Agreement includes customary representations and warranties and covenants by the Company, including restrictions on transfers of intellectual property related to Afrezza. The Milestone Rights are subject to acceleration in the event the Company transfers its intellectual property related to Afrezza in violation of the terms of such agreement.During the second quarters of 2024 and 2023, the Company achieved Afrezza net sales milestones as specified by the Milestone Rights and the portion of the $5.0 million payments that related to the Milestone Rights liability on our consolidated balance sheets was approximately $0.8 million and $0.9 million for the payments made in 2024 and 2023, respectively, and represented the fair value as determined in 2013 (the most recent measurement date).As of December 31, 2024, the remaining Milestone Rights liability balance was $3.2 million and consisted of $0.7 million of current liability, which was presented as accrued expenses and other current liabilities, and $2.5 million of long-term liability, which was presented as milestone liabilities in our consolidated balance sheets. As of December 31, 2023, the remaining Milestone Rights liability balance was $3.9 million and consisted of $0.8 million of current liability and $3.1 million of long-term liability. The value of the Milestone Rights liability was based on initial fair value estimates calculated using the income approach and reduced by milestone achievement payments made. Loss Contingencies – Returns Reserve for Acquired Product — During the year ended December 31, 2024, the Company reassessed its previously-determined estimate for product returns associated with sales of V-Go that pre-date the Company's acquisition of the product and recorded an additional $1.4 million, which was recorded in accrued expenses and other current liabilities in the consolidated balance sheets and is being reduced as product returns are received. Losses on estimated returns of acquired product were recorded in selling, general and administrative expenses in the consolidated statements of operations.Liability for Sale of Future Royalties — In December 2023, the Company executed a Purchase and Sale Agreement (the “PSA”) with Sagard Healthcare Partners Funding Borrower SPE 2, LP (“Sagard”). Pursuant to the PSA, Sagard paid the Company $150.0 million (the “Upfront Proceeds”), net of $0.4 million in reimbursements of Sagard’s fees and expenses (the “Reimbursements”), for the purchase of a 1% royalty on future net sales of Tyvaso DPI by UT under the terms of the UT License Agreement (the “Sagard Royalty”). Sagard will also pay the Company a milestone of $50.0 million if net sales of Tyvaso DPI meet or exceed $1.9 billion for any 12 consecutive months on or prior to December 31, 2026 (“Net Sales Threshold A”), or a milestone of $45.0 million if net Sales Threshold A is not met and net sales of Tyvaso DPI meet or exceed $2.3 billion for any 12 consecutive months on or prior to September 30, 2027 (“Net Sales Threshold B”), resulting in a purchase price not to exceed $200.0 million (the “Purchase Price”). If Net Sales Thresholds A and B are not met and net sales of Tyvaso DPI meet or exceed $3.5 billion for any calendar year after September 30, 2027, no royalties will be payable to Sagard for the remainder of that year. The PSA applies to net sales of Tyvaso DPI generated during October 1, 2023 through December 31, 2042 (the “Termination Date”) and will automatically terminate upon payment of the final royalty owed to Sagard thereafter. Upon the Termination Date, ownership of the Sagard Royalty will revert to the Company. Given the Company’s continuing involvement with the generation of Tyvaso DPI revenue under the UT License Agreement and CSA, which includes the Company’s supply and manufacture of Tyvaso DPI, and the Company’s retention and associated defense and maintenance obligations of the intellectual property required in the manufacture of Tyvaso DPI, the Upfront Proceeds were recorded as a liability for sale of future royalties (the “Royalty Liability”) on the consolidated balance sheets, and any proceeds from future milestones will be added to the Royalty Liability balance upon receipt. Although the Company is not obligated to repay any portion of the Purchase Price to Sagard, the Royalty Liability under the PSA is secured by a security interest granted to Sagard in the underlying 1% royalty rights and any proceeds therefrom. As a result of the PSA, transaction costs totaling $4.4 million (including the Reimbursements) are reported net of the Royalty Liability balance and amortized to interest expense in the consolidated statements of operations over the life of the PSA using the effective interest method. Unamortized transaction costs totaled $4.1 million and $4.4 million at December 31, 2024 and 2023, respectively.The Company will continue to recognize the full 10% of future royalty revenues in its consolidated statements of operations, with the Sagard Royalty being non-cash revenue for the Company. As royalty payments are earned by and remitted to Sagard, the balance of the Royalty Liability will be effectively repaid as it is amortized over the life of the PSA. To amortize the Royalty Liability, the Company estimated the total amount of future royalty payments to be made to Sagard over the life of the PSA. The excess of those future estimated royalty payments over the Purchase Price proceeds received is recognized in the consolidated statements of operations as non-cash interest expense over the life of the PSA utilizing an imputed effective interest rate. The effective interest rate is calculated based on the rate that would enable the debt to be repaid in full over the anticipated life of the arrangement. The interest rate may vary during the term of the agreement depending on a number of factors, including the amount and timing of forecasted royalty payments which affects the timing and ultimate amount of reductions to the liability. The Company will evaluate the effective interest rate periodically based on its forecasted royalty payments utilizing the prospective method.The Company periodically assesses the forecasted royalty payments using a combination of historical results, internal projections and forecasts from external sources. To the extent such payments, or the timing of such payments, are materially different than original estimates, the Company will prospectively adjust the effective interest rate and amortization of the Royalty Liability. <div style="font-size:10pt;font-family:Times New Roman;">The following table shows the activity within the Royalty Liability account as well as the effective interest rate (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:79.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:18.7%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Balance, January 1, 2023</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Proceeds from sale of 1% future royalties</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">150,000</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Deferred transaction costs</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(4,375</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Amortization of deferred transaction costs</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Non-cash interest expense on liability for sale of future royalties</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">182</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Balance, December 31, 2023</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">145,810</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Amortization of deferred transaction costs</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">230</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Non-cash interest expense on liability for sale of future royalties</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">15,942</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Royalty revenue earned by or payable to Sagard</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(12,337</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Balance, December 31, 2024</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">149,645</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;text-indent:10pt;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Effective interest rate</td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8.9% – 11.1%</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> </table></div>Sale-Leaseback Transaction — In November 2021, the Company sold certain land, building and improvements located in Danbury, CT (the "Property") to an affiliate of Creative Manufacturing Properties (the "Purchaser") for a sales price of $102.3 million, subject to terms and the conditions contained in a purchase and sale agreement. Effective with the closing of the Sale-Leaseback Transaction, the Company and the Purchaser entered into a lease agreement (the “Lease”), pursuant to which the Company leased the Property from the Purchaser for an initial term of 20 years, with four renewal options of five years each. The total annual rent under the Lease starts at approximately $9.5 million per year, subject to a 50% rent abatement during the first year of the Lease, and will increase annually by (i) 2.5% in the second through fifth year of the Lease and (ii) 3% in the sixth and each subsequent year of the Lease, including any renewal term, utilizing a weighted average discount rate of 9.0%. The Company is responsible for payment of operating expenses, property taxes and insurance for the Property. The Purchaser will hold a security deposit of $2.0 million during the Lease term. Pursuant to the terms of the Lease, the Company has four options to repurchase the Property, in 2026, 2031, 2036 and 2041, for the greater of (i) $102.3 million and (ii) the fair market value of the Property.Effective with the closing of the Sale-Leaseback Transaction, the Company and the Purchaser also entered into a right of first refusal agreement (the “ROFR”), pursuant to which the Company has a right to re-purchase the Property from the Purchaser in accordance with terms and conditions set forth in the ROFR. Specifically, if the Purchaser receives, and is willing to accept, a bona fide purchase offer for the Property from a third-party purchaser, the Company has certain rights of first refusal to purchase the Property on the same material terms as proposed in such bona fide purchase offer.As of December 31, 2024, the related financing liability was $103.9 million, which was recognized in the Company’s consolidated balance sheet and of which $93.9 million was long-term and $10.1 million was current. As of December 31, 2023, the related financing liability was $104.1 million, of which $94.3 million was long-term and $9.8 million was current. <div style="font-size:10pt;font-family:Times New Roman;">Financing liability information was as follows (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.313%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.283%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.4%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.283%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Weighted average remaining lease term (in years)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">16.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">17.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> </table></div> <div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.82%;box-sizing:content-box;"></td> <td style="width:1.88%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.700000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.6%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.700000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.6%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.700000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest expense</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,619</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,617</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,550</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Amortization of debt issuance costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">209</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">208</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">208</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest expense on financing liability</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,828</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,825</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,758</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table> </div> <div style="font-size:10pt;font-family:Times New Roman;">The Company's remaining financing liability payments were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:79.596%;box-sizing:content-box;"></td> <td style="width:2.621%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.783000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2025</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,269</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2026</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,533</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2027</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,849</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2028</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,174</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2029</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,510</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Thereafter</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">165,769</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">220,104</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Interest payments</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(113,699</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Debt issuance costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(2,466</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total financing liability</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">103,939</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table></div> Commitments — In July 2014, the Company entered into the Insulin Supply Agreement pursuant to which Amphastar manufactures for and supplies to the Company certain quantities of recombinant human insulin for use in Afrezza. Under the terms of the Insulin Supply Agreement, Amphastar is responsible for manufacturing the insulin in accordance with the Company’s specifications and agreed-upon quality standards.In December 2023, the Company and Amphastar amended the Insulin Supply Agreement to extend the term, restructure the annual purchase commitments and include a capacity fee for certain future periods. The Company's remaining purchase commitments and estimated capacity fee liability as of December 31, 2024 were as follows (€ in millions):<div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:61.308%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:16.757%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.34%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:16.597%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Remaining Purchase Commitments</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Estimated Capacity Fees</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2026(1)</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">4.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2027</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2028</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2029</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2030</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2031</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2032</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.7</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2033</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.7</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2034</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4.3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">55.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>__________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">If there is a delay in the availability of insulin with FDA approved inclusion bodies and supply does not begin in 2026 as currently expected, the Company will incur a capacity fee of €750,000 per quarter that the product is not available for purchase. </div></div></div>Pursuant to the amendment, the term of the Insulin Supply Agreement expires on the later of December 31, 2034 or until the completion of the total remaining purchase commitment quantities, unless terminated earlier, and can be renewed for additional, successive two-year terms upon 12 months’ written notice given prior to the end of the initial term or any additional two-year term. The Company and Amphastar each have normal and customary termination rights, including termination for a material breach that is not cured within a specific time frame or in the event of liquidation, bankruptcy or insolvency of the other party. In addition, the Company may terminate the Insulin Supply Agreement upon two years’ prior written notice to Amphastar without cause or upon 30 days’ prior written notice to Amphastar if a controlling regulatory authority withdraws approval for Afrezza, provided, however, in the event of a termination pursuant to either of the latter two scenarios, the provisions of the Insulin Supply Agreement require the Company to pay the full amount of all unpaid purchase commitments due over the initial term within 60 calendar days of the effective date of such termination. The Company periodically reviews the terms of the long-term Insulin Supply Agreement and assesses the need for any accrual for estimated losses, such as lower-of-cost or net-realizable-value that will not be recovered by future product sales. The recognized loss on purchase commitments of $58.2 million and $64.8 million is included in our consolidated balance sheets as of December 31, 2024 and 2023, respectively, and is reduced as inventory items are received or such liability is extinguished. As a result of the increase in future cash flows for the excess capacity fees and extended term included in the amendment of the Insulin Supply Agreement, the Company analyzed the need for additional estimated losses and concluded that an increase in the recognized loss on purchase commitments was not required as the net realizable value of inventory resulting from the purchase commitment was in excess of the carrying value. Increases in costs associated with the amendment will be recognized through inventory as incurred.Vehicle Leases — During the second quarter of 2018, the Company entered into a master lease agreement with Enterprise Fleet Management Inc. The monthly payment inclusive of maintenance fees, insurance and taxes is approximately $0.1 million. The lease expense is included in selling, general and administrative expenses in the consolidated statements of operations.Office Leases — In May 2017, the Company executed an office lease with Russell Ranch Road II LLC for the Company’s corporate offices in Westlake Village, California, which was renewed in April 2022. Pursuant to the renewal, the monthly lease payments of $79,543 began in February 2023 and are subject to 3% annual increases, plus the estimated cost of maintaining the property and common areas by the landlord, and are further subject to a six-month base rent concession beginning February 2023. The Company is also entitled to a one-time allowance up to $0.9 million as reimbursement for tenant improvements or the purchase of furniture, fixtures or equipment. Of the $0.9 million allowance, an amount up to $0.7 million may be applied as an additional base rent concession. The Company has no further right to extend the lease term beyond July 31, 2028.In May 2022, the Company assumed certain leased real property (the “Marlborough Lease”) in connection with the V-Go acquisition. The Marlborough Lease pertains to certain premises in a building located in Marlborough, Massachusetts. The monthly payments of $28,895 began in June 2022, subject to approximately 3% annual increases through February 28, 2026.The Company also acquired rights to a manufacturing service agreement where V-Go is manufactured using Company-owned equipment located at the manufacturing facility. The Company determined that this arrangement results in an embedded lease which granted the Company exclusive use of space within the manufacturing facility. The Company assessed the embedded lease cost to be $14,370 per month through February 28, 2026.In July 2024, the Company assumed certain leased real property (the "Bedford Lease") in connection with the Pulmatrix Transaction. The Bedford Lease pertains to certain premises in a building located in Bedford, Massachusetts. The monthly base rent payments of $101,282 are subject to 3% annual increases, plus the estimated cost of maintaining the property and common areas by the landlord. The Company also assumed from Pulmatrix a $0.7 million obligation to repay landlord-funded tenant improvements at a rate of $6,000 per month through the end of the lease term in November 2033. The Company has the right to extend the lease term for an additional five-year term.<div style="font-size:10pt;font-family:Times New Roman;">Lease information was as follows (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.747%;box-sizing:content-box;"></td> <td style="width:1.721%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.906%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.721%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.906%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Operating lease right-of-use assets(1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">13,109</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">4,685</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> <tr style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Operating lease liability-current(2)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,423</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,423</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Operating lease liability-long-term</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">11,645</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">3,925</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:5pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Total</td> <td style="padding-top:0in;text-indent:5pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,068</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;text-indent:5pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">5,348</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> <tr style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Weighted average remaining lease term (in years)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7.1</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.7</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Weighted average discount rate</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">%</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">%</td> </tr> </table>__________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Operating right-of-use assets related to vehicles, offices and the manufacturing facility for V-Go are included in other assets in the consolidated balance sheets.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Operating lease liability–current is included in accrued expenses and other current liabilities in the consolidated balance sheets.</div></div></div> <div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Operating lease costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,103</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,675</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,525</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Variable lease costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">234</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">104</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">274</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cash paid</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,292</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,068</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,823</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> </table> </div> <div style="font-size:12pt;font-family:Times New Roman;">The Company's future minimum office and vehicle lease payments were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.04%;box-sizing:content-box;"></td> <td style="width:2.08%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.88%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,157</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,579</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2027</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,540</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">2028</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,087</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2029</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,485</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Thereafter</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6,236</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Total</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18,084</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest expense</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(4,016</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total operating lease liability</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">14,068</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div>

90000000 50000000 5000000 5000000 800000 900000 3200000 700000 2500000 3900000 800000 3100000 1400000

150000000

400000 0.01 50000000

1900000000

45000000

2300000000

200000000

3500000000

2023-10-01 2042-12-31 0.01 4400000 4100000 4400000 0.10 The following table shows the activity within the Royalty Liability account as well as the effective interest rate (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:79.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:18.7%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Balance, January 1, 2023</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Proceeds from sale of 1% future royalties</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">150,000</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Deferred transaction costs</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(4,375</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Amortization of deferred transaction costs</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Non-cash interest expense on liability for sale of future royalties</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">182</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Balance, December 31, 2023</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">145,810</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Amortization of deferred transaction costs</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">230</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Non-cash interest expense on liability for sale of future royalties</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">15,942</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Royalty revenue earned by or payable to Sagard</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(12,337</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Balance, December 31, 2024</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">149,645</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;text-indent:10pt;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Effective interest rate</td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">8.9% – 11.1%</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> </table>

0.01 150000000 -4375000 3000

182000

145810000

230000

15942000

-12337000

149645000

0.089 0.111

102300000

P20Y

renewal options of five years

The total annual rent under the Lease starts at approximately $9.5 million per year, subject to a 50% rent abatement during the first year of the Lease, and will increase annually by (i) 2.5% in the second through fifth year of the Lease and (ii) 3% in the sixth and each subsequent year of the Lease, including any renewal term, utilizing a weighted average discount rate of 9.0%.

9500000

0.09

2000000

the Company has four options to repurchase the Property, in 2026, 2031, 2036 and 2041, for the greater of (i) $102.3 million and (ii) the fair market value of the Property.

102300000

103900000 93900000 10100000 104100000 94300000 9800000 Financing liability information was as follows (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.313%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.283%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.4%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:13.283%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Weighted average remaining lease term (in years)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">16.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">17.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> </table>Lease information was as follows (dollars in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.747%;box-sizing:content-box;"></td> <td style="width:1.721%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.906%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.721%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.906%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Operating lease right-of-use assets(1)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">13,109</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">4,685</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> <tr style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Operating lease liability-current(2)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">2,423</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,423</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Operating lease liability-long-term</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">11,645</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">3,925</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:5pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Total</td> <td style="padding-top:0in;text-indent:5pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">14,068</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> <td style="padding-top:0in;text-indent:5pt;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">5,348</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> <tr style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Weighted average remaining lease term (in years)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7.1</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3.7</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Weighted average discount rate</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">%</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">7.3</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">%</td> </tr> </table>__________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">Operating right-of-use assets related to vehicles, offices and the manufacturing facility for V-Go are included in other assets in the consolidated balance sheets.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(2)<div style="width:100%;display:inline;">Operating lease liability–current is included in accrued expenses and other current liabilities in the consolidated balance sheets.</div></div>

P16Y9M18D

P17Y9M18D

<table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.82%;box-sizing:content-box;"></td> <td style="width:1.88%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.700000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.6%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.700000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.6%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.700000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest expense</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,619</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,617</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,550</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Amortization of debt issuance costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">209</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">208</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">208</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Interest expense on financing liability</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,828</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,825</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9,758</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Operating lease costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,103</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,675</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,525</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Variable lease costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">234</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">104</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">274</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Cash paid</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,292</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,068</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,823</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> </table>

9619000

9617000

9550000

209000 208000 208000 9828000 9825000 9758000

The Company's remaining financing liability payments were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:79.596%;box-sizing:content-box;"></td> <td style="width:2.621%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.783000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">December 31, 2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2025</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,269</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2026</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,533</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2027</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">10,849</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2028</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,174</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">2029</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,510</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Thereafter</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">165,769</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">220,104</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Interest payments</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(113,699</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Debt issuance costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(2,466</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total financing liability</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">103,939</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;"> </td> </tr> </table>

10269000 10533000 10849000 11174000 11510000 165769000 220104000 113699000 2466000 103939000

The Company's remaining purchase commitments and estimated capacity fee liability as of December 31, 2024 were as follows (€ in millions): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:61.308%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:16.757%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.34%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:16.597%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">December 31, 2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Remaining Purchase Commitments</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Estimated Capacity Fees</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2026(1)</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">4.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2027</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2028</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2029</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2030</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2031</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2032</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.7</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2033</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.7</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">2034</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4.3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">0.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">55.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9.5</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>__________________________<div class="item-list-element-wrapper" style="display:flex;margin-top:2pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;">(1)<div style="width:100%;display:inline;">If there is a delay in the availability of insulin with FDA approved inclusion bodies and supply does not begin in 2026 as currently expected, the Company will incur a capacity fee of €750,000 per quarter that the product is not available for purchase. </div></div>

1500000

4100000

2000000

6000000

1000000

6000000

1000000

5800000

1000000 5800000 1000000 7800000 500000 7700000 500000 7700000 500000 4300000 500000

55200000

9500000 750000 2034-12-31 P2Y

58200000

64800000

100000

79543

0.03

900000

700000

The Company has no further right to extend the lease term beyond July 31, 2028.

28895

0.03

14370

101282

0.03 700000 6000000000

P5Y

13109000

4685000

2423000

1423000

11645000

3925000

14068000

5348000

P7Y1M6D

P3Y8M12D

0.073

2103000

1675000

1525000

234000

104000

274000

2292000

1068000

1823000

3157000

2579000

2540000

2087000

1485000

6236000

18084000

4016000

14068000

0.50

0.10

0.50

2400000

2900000

1800000

18. Income Taxes<div style="font-size:10pt;font-family:Times New Roman;">Income (loss) from continuing operations before provision for income taxes for the Company’s domestic and international operations was as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">United States</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">30,518</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(10,377</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(87,400</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Foreign</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Income (loss) before provision for income taxes</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">30,518</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(10,377</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(87,400</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">)</td> </tr> </table></div> As of December 31, 2024, the Company has concluded that it is more likely than not that the Company may not realize the benefit of its deferred tax assets due to its history of losses. The net deferred tax assets have been fully reserved. The provision for income taxes consists of the following (in thousands): <div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Current</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. federal</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. state</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,750</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,555</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Non-U.S.</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">165</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total current</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">2,915</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">1,555</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Deferred</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. federal</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">15,302</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(190</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(5,606</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. state</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(11,428</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,002</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(4,334</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total deferred</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,874</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6,812</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(9,940</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Valuation allowance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(3,859</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(6,806</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">9,940</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Net deferred</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">15</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">2,930</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,561</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div> Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. A valuation allowance is established when uncertainty exists as to whether all or a portion of the net deferred tax assets will be realized. Components of the net deferred tax assets are approximately as follows (in thousands): <div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="6" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Deferred tax assets:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Net operating loss carryforwards</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">480,008</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">506,641</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Research and development credits</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">75,730</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">77,007</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Capitalized research costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">26,872</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">14,225</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Milestone rights</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">804</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">1,006</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Accrued expenses</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,302</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">3,760</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Loss on purchase commitment</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">22,413</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">22,806</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Non-qualified stock option expense</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,364</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">3,559</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Capitalized patent costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,798</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">6,720</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Other</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,973</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">3,405</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Lease liability</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,578</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">1,280</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Interest expense limitation</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">2,782</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Depreciation</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">21,638</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">21,134</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Deferred product revenue and costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,347</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">346</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Sale of future royalties</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">38,059</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">34,848</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total deferred tax assets</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">697,886</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">699,519</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Valuation allowance</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(694,369</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(698,228</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Net deferred tax assets</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,517</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,291</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Deferred tax liabilities:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Right of use asset</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(3,334</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(1,121</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Other prepaids</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(204</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(176</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Total deferred tax liabilities</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(3,538</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(1,297</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Net deferred tax assets</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">(21</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">(6</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;">)</td> </tr> </table></div> <div style="font-size:10pt;font-family:Times New Roman;">The Company’s effective tax rate differs from the statutory federal income tax rate as follows: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.241999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.241999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.241999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Federal tax benefit rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">State tax expense (net of federal benefit)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-11.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Permanent items</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-2.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-0.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Officers compensation</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-35.3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-1.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Debt settlement</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Stock based compensation</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-5.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.4</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Tax attribute expirations</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.4</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-13.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Valuation allowance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-42.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-7.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Other deferred adjustments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">10.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">0.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Effective income tax rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">-15.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">%</td> </tr> </table></div> As of December 31, 2024 and 2023, management assessed the realizability of deferred tax assets. Management evaluated the need for an amount of any valuation allowance for deferred tax assets on a jurisdictional basis. This evaluation utilizes the framework contained in ASC 740, Income Taxes, wherein management analyzes all positive and negative evidence available at the balance sheet date to determine whether all or some portion of our deferred tax assets will not be realized. Under this guidance, a valuation allowance must be established for deferred tax assets when it is more likely than not (a probability level of more than 50%) that they will not be realized.In concluding on the evaluation, management placed significant emphasis on guidance in ASC 740, which states that “...a cumulative loss in recent years is a significant piece of negative evidence that is difficult to overcome.” Based upon available evidence as of December 31, 2024, it was concluded on a more-likely-than-not basis that all deferred tax assets were not realizable. Accordingly, a valuation allowance of $694.4 million has been recorded to offset these deferred tax assets. During the years ended December 31, 2024 and 2023, the valuation allowance decreased by $3.9 million and $6.8 million, respectively.<div style="font-size:10pt;font-family:Times New Roman;">A reconciliation of beginning and ending amounts of the Company's valuation allowance for deferred tax assets was as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.96%;box-sizing:content-box;"></td> <td style="width:2.08%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Valuation Allowance for Deferred Tax Assets</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Beginning of Year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">698,228</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">705,034</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">695,094</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Additions (deductions) charged to expenses</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(3,859</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(6,806</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9,940</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">End of Year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">694,369</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">698,228</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="border-top:0.5pt solid #000000;padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">705,034</td> <td style="border-top:0.5pt solid #ffffff03;padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div>As of December 31, 2024, the Company had federal and state net operating loss carryforwards of approximately $1.9 billion and $1.3 billion available, respectively, to reduce future taxable income. $492.9 million of the federal losses do not expire and the remaining federal losses have started expiring, beginning in 2026 through various future dates.Pursuant to IRC Sections 382 and 383, annual use of the Company’s federal and California net operating loss and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period. As a result of the Company's initial public offering, an ownership change within the meaning of IRC Section 382 occurred in August 2004. As a result, federal net operating loss and credit carryforwards of approximately $105.8 million are subject to an annual use limitation of approximately $13.0 million. The annual limitation is cumulative and therefore, if not fully utilized in a year can be utilized in future years in addition to the Section 382 limitation for those years. All of these attributes are now available for use for the tax year ended December 31, 2024 under Section 382. We have completed a Section 382 analysis beginning from the date of our initial public offering through December 31, 2024, to determine whether additional limitations may be placed on the net operating loss carryforwards and other tax attributes, and no additional changes in ownership that met Section 382 study ownership change threshold has been identified through December 31, 2024. There is a risk that changes in ownership may occur in tax years after December 31, 2024. If a change in ownership were to occur, our net operating loss carryforwards and other tax attributes could be further limited or restricted. If limited, the related asset would be removed from the deferred tax asset schedule with a corresponding reduction in the valuation allowance. Due to the existence of the valuation allowance, limitations created by future ownership changes, if any, related to the Company’s operations in the U.S. will not impact the Company’s effective tax rate.As of December 31, 2024, the Company had $53.7 million of U.S. federal research and development credits which expire beginning in 2025, and $22.1 million of state research and development credits. The Company files U.S. federal and state income tax returns in jurisdictions with varying statutes of limitations. In the normal course of business the Company is subject to examination by taxing authorities throughout the country. These audits could include examining the timing and amount of deductions, the allocation of income among various tax jurisdictions and compliance with federal, state, and local tax laws. The Company's tax years since 2021 and 2020 remain subject to examination by federal and state tax authorities. <div style="font-size:10pt;font-family:Times New Roman;">A reconciliation of beginning and ending amounts of unrecognized tax benefits was as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.96%;box-sizing:content-box;"></td> <td style="width:2.08%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Unrecognized Tax Benefit</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Beginning of Year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Gross increases for tax positions of prior years</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Gross decreases for tax positions of prior years</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Gross increases for tax positions of current year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Settlements</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Lapse of statute of limitations</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">End of Year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table></div> The Company has assessed its position with regards to uncertainty in tax positions and has not recognized a liability for unrecognized tax benefits. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2024, 2023 and 2022, the Company did not recognize any interest and/or penalties. In June 2024, California enacted Senate Bills 167 and 175 ("SB 167" and "SB 175"). SB 167 suspends the use of net operating losses ("NOLs") and limits the use of business credits to $5.0 million for the 2024-2026 tax years. Under SB 175, the NOL suspension and credit limitations will not apply for the 2025 and 2026 tax years if certain budget goals are met. Although the Company does not expect this legislation to have a material effect on its results of operations or cash flows, management continues to evaluate any potential impact.

30518000

-10377000

-87400000

30518000

-10377000

-87400000

The provision for income taxes consists of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:10.782%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Current</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. federal</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. state</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,750</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,555</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Non-U.S.</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">165</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total current</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">2,915</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">1,555</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Deferred</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. federal</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">15,302</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(190</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(5,606</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">U.S. state</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(11,428</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,002</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(4,334</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total deferred</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,874</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6,812</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(9,940</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Valuation allowance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(3,859</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">(6,806</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">9,940</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:20pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Net deferred</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">15</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Total</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">2,930</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,561</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>

2750000

1555000

165000

2915000

1555000

15302000

-190000

-5606000

-11428000

7002000

-4334000

3874000

6812000

-9940000

3859000

6806000

-9940000

15000 6000

2930000

1561000

Components of the net deferred tax assets are approximately as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.72%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.92%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="6" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;">December 31,</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:left;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2024</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:left;">2023</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Deferred tax assets:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Net operating loss carryforwards</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">480,008</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">506,641</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Research and development credits</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">75,730</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">77,007</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Capitalized research costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">26,872</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">14,225</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Milestone rights</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">804</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">1,006</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Accrued expenses</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,302</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">3,760</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Loss on purchase commitment</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">22,413</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">22,806</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Non-qualified stock option expense</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,364</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">3,559</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Capitalized patent costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,798</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">6,720</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Other</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">4,973</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">3,405</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Lease liability</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,578</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">1,280</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Interest expense limitation</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">—</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">2,782</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Depreciation</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">21,638</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">21,134</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Deferred product revenue and costs</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">11,347</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;text-align:center;">346</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Sale of future royalties</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">38,059</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">34,848</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Total deferred tax assets</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">697,886</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">699,519</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Valuation allowance</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(694,369</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(698,228</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Net deferred tax assets</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">3,517</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">1,291</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;vertical-align:top;padding-bottom:0in;">Deferred tax liabilities:</td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td colspan="2" style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;vertical-align:bottom;padding-bottom:0in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Right of use asset</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(3,334</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;text-align:center;">(1,121</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;text-indent:10pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;">Other prepaids</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(204</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(176</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Total deferred tax liabilities</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(3,538</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;"> </td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;text-align:center;">(1,297</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;">Net deferred tax assets</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">(21</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;">)</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;"> </td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;">$</td> <td style="padding-top:0in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;text-align:center;">(6</td> <td style="padding-top:0in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;">)</td> </tr> </table>

480008000

506641000

75730000

77007000

26872000 14225000 804000 1006000 4302000 3760000 22413000 22806000

3364000

3559000

4798000 6720000

4973000

3405000

3578000 1280000 0 2782000

21638000

21134000

11347000 346000 38059000 34848000

697886000

699519000

694369000

698228000

3517000

1291000

3334000 1121000

204000

176000

3538000

1297000

21000

6000

The Company’s effective tax rate differs from the statutory federal income tax rate as follows: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:57.211%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.241999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.241999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.02%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:11.241999999999999%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Federal tax benefit rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">State tax expense (net of federal benefit)</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-11.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Permanent items</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-2.8</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-0.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Officers compensation</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">5.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-35.3</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-1.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Debt settlement</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">7.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Stock based compensation</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-5.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.4</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Tax attribute expirations</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.4</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-13.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Valuation allowance</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-42.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">-7.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Other deferred adjustments</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4.1</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">10.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">0.2</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Effective income tax rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">9.6</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">-15.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">%</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.0</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;">%</td> </tr> </table>

0.21

0.071

-0.118

0.052 -0.028 -0.001 0.056 -0.353 -0.011 0.072 0 0

-0.056

0.004

0.016 0.004 -0.132

0.422

-0.091

0.072

0.041

0.10

0.002

0.096

-0.15

694400000

3900000

6800000

698228000

705034000

695094000

3859000

6806000

-9940000

694369000

698228000

705034000

1900000000

1300000000

492900000

2026

Pursuant to IRC Sections 382 and 383, annual use of the Company’s federal and California net operating loss and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period.

105800000 13000000 53700000 2025 22100000

A reconciliation of beginning and ending amounts of unrecognized tax benefits was as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:56.96%;box-sizing:content-box;"></td> <td style="width:2.08%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.72%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.84%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="10" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;">Year Ended December 31,</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2024</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2023</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">2022</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Unrecognized Tax Benefit</td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Beginning of Year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Gross increases for tax positions of prior years</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Gross decreases for tax positions of prior years</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Gross increases for tax positions of current year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Settlements</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;text-indent:5pt;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Lapse of statute of limitations</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">End of Year</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">268,902</td> <td style="padding-top:0.01in;white-space:nowrap;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;"> </td> </tr> </table>

268902000

5000000

The investments due in one year or less include cash equivalents of $14.7 million as of December 31, 2024 and $58.6 million as of December 31, 2023. See Note 16 – Commitments and Contingencies under Contingencies – Milestone Rights. See Note 16 – Commitments and Contingencies under Loss Contingencies – Returns Reserve for Acquired Product.