BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of business acquisitions, by acquisition

This acquisition was accounted for as a business combination. Purchase consideration consisted of the following:

(In thousands, except share price and exchange ratio)	Purchase Consideration
Alimera common shares outstanding	$	53,971
Alimera warrants outstanding after exercise	989
Alimera common shares and warrants outstanding	54,960
Cash consideration per share	5.50
Cash consideration for Alimera Common Stock	302,280
Repayment of Alimera Debt	78,540
Payment of Alimera transaction costs	20,172
Cash settlement for pre-acquisition equity awards	9,535
Fair value of CVRs	8,322
Total Merger Consideration	$	418,849

Schedule of recognized identified assets acquired and liabilities assumed

The allocation of the fair value will be finalized when the valuation is completed, and the differences will be trued up for the final allocated amounts.

(in thousands)	Preliminary Purchase Price Allocation		Measurement Period Adjustment		Purchase Price Allocation
Cash and cash equivalents	$	9,247	$	—	$	9,247
Accounts receivable	38,605		(43)		38,562
Prepaid expenses and other assets	2,618		—		2,618
Inventories	19,457		(1,559)		17,898
Property and equipment	3,086		—		3,086
Intangible assets	400,000		—		400,000
Deferred tax asset, net of deferred tax liabilities and valuation allowance	198		(80)		118
Derivative and other non-current assets	1,224		—		1,224
Total assets	$	474,435	$	(1,682)	$	472,753
Accounts payable	$	8,001	$	—	$	8,001
Accrued expenses and other	11,396		96		11,492
Accrued government rebates	—		385		385
Returned goods reserve	3,095		(2,600)		495
Current accrued licensor payment	3,684		—		3,684
Deferred tax liability	37,932		—		37,932
Accrued licensor payment, net of current	21,316		—		21,316
Other non-current liabilities	2,364		—		2,364
Total liabilities	$	87,788	$	(2,119)	$	85,669
Total fair value of consideration transferred	$	418,849	$	—	$	418,849
Less: fair value of net acquired identifiable assets and liabilities	386,647		437		387,084
Goodwill	$	32,202	$	(437)	$	31,765

Schedule of finite-lived intangible assets acquired as part of business combination

The following table summarizes the estimated fair value of identifiable intangible assets acquired and their remaining amortization period (in years):

	Fair Value (in thousands)		Amortization Period
ILUVIEN	$	230,000	12
YUTIQ	$	170,000	12

Schedule of business acquisition, pro forma consolidated financial information

The following unaudited pro forma financial information summarizes the results of operations for the periods indicated as if the acquisition had been completed as of January 1, 2023.

	Year Ended December 31,
(in thousands)	2024		2023
Net revenues	$	680,911	$	567,570
Net loss	$	(24,338)	$	(71,552)