FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of changes in fair value, inputs, level 3

The following table presents the changes in the CVR balances classified as Level 3 for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Beginning balance	$	—	$	—	$	—	$	—
CVR Agreement	8,700		—		8,700		—
Ending balance	$	8,700	$	—	$	8,700	$	—

The following table presents the changes in contingent consideration balances classified as Level 3 for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Beginning balance	$	11,933	$	37,054	$	23,984	$	35,058
Payment of Gross-Profit earn-out	—		—		(12,500)		—
Change in fair value	825		(2,555)		1,274		(559)
Ending balance	$	12,758	$	34,499	$	12,758	$	34,499

Schedule of recurring Level 3 fair value measurements of contingent consideration

The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs as of September 30, 2024:

Payment Type	Valuation Technique	Unobservable Input	Assumptions
Profit-based milestone payments	Probability-weighted discounted cash flow	Discount rate	12%
		Projected fiscal year of payment	2025-2035

Schedule of financial assets and liabilities accounted for at fair value on a recurring basis

The following table presents our financial assets and liabilities accounted for at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, by level within the fair value hierarchy:

(in thousands) Description	Fair Value at September 30, 2024		Level 1		Level 2		Level 3
Assets
Money Market Fund	$	83,304	$	83,304	$	—	$	—
Interest rate swap	$	3,556	$	—	$	3,556	$	—
CG Oncology - Investment in equity securities	$	8,298	$	8,298	$	—	$	—
Liabilities
Contingent consideration, Novitium	$	12,758	$	—	$	—	$	12,758
Contingent Value Rights, Alimera	$	8,700	$	—	$	—	$	8,700
Accrued licensor payment	$	23,125	$	—	$	—	$	23,125

Description	Fair Value at December 31, 2023		Level 1		Level 2		Level 3
Assets
Money Market Fund	$	191,841	$	191,841	$	—	$	—
Interest rate swap	$	6,236	$	—	$	6,236	$	—
Liabilities
Contingent consideration	$	23,984	$	—	$	—	$	23,984