BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of business acquisitions, by acquisition

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		175		38,780
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		(84)		114
Derivative and other non-current assets	1,224		—		1,224
Total assets	$	474,435	$	(1,468)	$	472,967
Accounts payable	$	8,001	$	—	$	8,001
Accrued expenses and other	11,396		856		12,252
Accrued government rebates	—		385		385
Returned goods reserve	3,095		(2,600)		495
Current accrued licensor payment	3,684		—		3,684
Accrued licensor payment, net of current	21,316		—		21,316
Deferred tax liability	37,932		—		37,932
Other non-current liabilities	2,364		—		2,364
Total liabilities	$	87,788	$	(1,359)	$	86,429
Total fair value of consideration transferred	$	418,849	$	—	$	418,849
Less: fair value of net acquired identifiable assets and liabilities	386,647		(109)		386,538
Goodwill	$	32,202	$	109	$	32,311

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):

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