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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
The following table sets forth information concerning the compensation of our PEO and
non-PEO
NEOs for the fiscal years ended December 31,
2024
, 2023 and 2022, and our financial performance for each such fiscal year:
 
                              
Value of Initial $100

Fixed Investment Based

on (3)
               
Year
   
Summary

Compensation

Table Total

for PEO ($)
   
Compensation

Actually Paid

to PEO ($)

(1)(2)
   
Average

Summary

Compensation

Table Total

for
non-PEO

NEOs
   
Average

Compensation

Actually Paid

to
non-PEO

NEOs (1)(2)
    
Total

Shareholder

Return ($)
    
Peer Group

Total

Shareholder

Return ($)
    
Net

Income

(in

thousands)

($)
    
Net

Product

Revenue

(in

thousands)

($)
 
  2024       7,774,160       12,896,544       3,723,348       5,024,539        557        88        163,889        489,327  
  2023       2,146,499       1,007,034       2,256,711       1,952,842        448        54        71,410        396,502  
  2022       6,923,782       17,549,684       2,674,788       7,393,846        496        69        83,079        213,938  
 
(1)
Amounts represent compensation actually paid (“CAP”) to our PEO and the average compensation actually paid to our
non-PEO
NEOs for the relevant fiscal year, as determined under SEC rules (and described below).
(2)
Fair value or change in fair value, as applicable, of stock options in the “Compensation Actually Paid” columns was estimated using a Black-Scholes option pricing model for the purposes of this disclosure in accordance with SEC rules and do not reflect compensation actually earned, realized or received during each applicable year. The calculation of CAP for purposes of this table includes
point-in-time
fair values of equity awards and those values will fluctuate based on our stock price and various accounting valuation assumptions. See the Summary Compensation Table for certain other compensation of our PEO and our
non-PEO
NEOs for each applicable fiscal year.
(3)
For the relevant fiscal year, represents our cumulative TSR or the cumulative TSR of the Nasdaq Biotechnology Index, in each case assuming an initial investment of $100 as described under the Narrative Disclosure to Pay Versus Performance heading below. We have never declared or paid a dividend on our common stock and do not anticipate doing so in the foreseeable future.
 
In the table immediately above, the columns “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to
non-PEO
NEOs” reflect the Total Compensation reported in the 2024 Summary Compensation Table (“
SCT
”), as adjusted based on the following:
 
    
SCT Total ($)
    
Minus SCT

Equity

Awards ($)
    
Plus Value of

New Unvested

Awards as of

12/31 ($)
    
Plus Annual

Change in

Value of Prior

Year Awards

that Remain

Unvested ($)
   
Plus Value of

Awards

Vested and

Granted

During Year

($)
    
Plus Change

in Value of

Prior Year

Awards that

Vest During

Year ($)
   
Total CAP ($)
 
PEO
                  
2024
     7,774,160        6,338,431        6,922,548        4,488,419       —         49,848       12,896,544  
2023
     2,146,499        749,999        943,365        (736,903     —         (595,928     1,007,034  
2022
     6,923,782        5,727,859        7,659,348        3,460,212       —         5,234,201       17,549,684  
Average
Non-PEO
NEOs
 
            
2024
     3,723,348        2,838,396        3,237,565        572,615       —         329,407       5,024,539  
2023
     2,256,711        1,446,560        1,819,515        (326,149     —         (350,675     1,952,842  
2022
     2,674,788        1,939,664        2,316,864        2,394,265       —         1,947,593       7,393,846  
The following tables illustrate the valuation assumptions as of the vesting date for awards that vested in each of 2024, 2023 and 2022.
 
    
For Stock Options Vesting in
    
2024
  
2023
  
2022
Risk-free interest rate
  
3.85% - 4.52%
  
3.75% - 4.65%
  
1.30% - 4.00%
Expected term
  
1.6 -5.0 years
   4.5 years    4.5 years
Expected volatility
   54.1% - 60.4%    68.0% - 71.0%    68.4% - 69.5%
Expected dividend yield
        
Expected forfeiture rate
        
 
    
Weighted Average Fair Value of Full Value
Awards Vesting in
 
    
2024
    
2023
    
2022
 
For Restricted Stock Units
   $ 11.19      $ 11.25      $ 4.65  
   
Company Selected Measure Name Net Product Revenue    
Named Executive Officers, Footnote
The Company’s principal executive officer (“
PEO
”) and our
non-PEO
named executive officers (“
NEO
s”) were as follows for the fiscal years ended December 31, 2024, 2023 and 2022:
 
Year
  
PEO
  
Non-PEO
NEOs
2024    Richard J. Daly    Michael W. Kalb, Steven R. Miller, Jeffrey Del Carmen, Preethi Sundaram
2023    Patrick J. McEnany    Alicia Grande, Steven R. Miller, Gary Ingenito, Jeffrey Del Carmen
2022    Patrick J. McEnany    Alicia Grande, Steven R. Miller, Gary Ingenito, Jeffrey Del Carmen
   
Peer Group Issuers, Footnote For the relevant fiscal year, represents our cumulative TSR or the cumulative TSR of the Nasdaq Biotechnology Index, in each case assuming an initial investment of $100 as described under the Narrative Disclosure to Pay Versus Performance heading below. We have never declared or paid a dividend on our common stock and do not anticipate doing so in the foreseeable future.    
PEO Total Compensation Amount $ 7,774,160 $ 2,146,499 $ 6,923,782
PEO Actually Paid Compensation Amount $ 12,896,544 1,007,034 17,549,684
Adjustment To PEO Compensation, Footnote
In the table immediately above, the columns “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to
non-PEO
NEOs” reflect the Total Compensation reported in the 2024 Summary Compensation Table (“
SCT
”), as adjusted based on the following:
 
    
SCT Total ($)
    
Minus SCT

Equity

Awards ($)
    
Plus Value of

New Unvested

Awards as of

12/31 ($)
    
Plus Annual

Change in

Value of Prior

Year Awards

that Remain

Unvested ($)
   
Plus Value of

Awards

Vested and

Granted

During Year

($)
    
Plus Change

in Value of

Prior Year

Awards that

Vest During

Year ($)
   
Total CAP ($)
 
PEO
                  
2024
     7,774,160        6,338,431        6,922,548        4,488,419       —         49,848       12,896,544  
2023
     2,146,499        749,999        943,365        (736,903     —         (595,928     1,007,034  
2022
     6,923,782        5,727,859        7,659,348        3,460,212       —         5,234,201       17,549,684  
Average
Non-PEO
NEOs
 
            
2024
     3,723,348        2,838,396        3,237,565        572,615       —         329,407       5,024,539  
2023
     2,256,711        1,446,560        1,819,515        (326,149     —         (350,675     1,952,842  
2022
     2,674,788        1,939,664        2,316,864        2,394,265       —         1,947,593       7,393,846  
   
Non-PEO NEO Average Total Compensation Amount $ 3,723,348 2,256,711 2,674,788
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,024,539 1,952,842 7,393,846
Adjustment to Non-PEO NEO Compensation Footnote
In the table immediately above, the columns “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to
non-PEO
NEOs” reflect the Total Compensation reported in the 2024 Summary Compensation Table (“
SCT
”), as adjusted based on the following:
 
    
SCT Total ($)
    
Minus SCT

Equity

Awards ($)
    
Plus Value of

New Unvested

Awards as of

12/31 ($)
    
Plus Annual

Change in

Value of Prior

Year Awards

that Remain

Unvested ($)
   
Plus Value of

Awards

Vested and

Granted

During Year

($)
    
Plus Change

in Value of

Prior Year

Awards that

Vest During

Year ($)
   
Total CAP ($)
 
PEO
                  
2024
     7,774,160        6,338,431        6,922,548        4,488,419       —         49,848       12,896,544  
2023
     2,146,499        749,999        943,365        (736,903     —         (595,928     1,007,034  
2022
     6,923,782        5,727,859        7,659,348        3,460,212       —         5,234,201       17,549,684  
Average
Non-PEO
NEOs
 
            
2024
     3,723,348        2,838,396        3,237,565        572,615       —         329,407       5,024,539  
2023
     2,256,711        1,446,560        1,819,515        (326,149     —         (350,675     1,952,842  
2022
     2,674,788        1,939,664        2,316,864        2,394,265       —         1,947,593       7,393,846  
   
Compensation Actually Paid vs. Total Shareholder Return
 
LOGO
 
   
Compensation Actually Paid vs. Net Income
LOGO
 
   
Compensation Actually Paid vs. Company Selected Measure
LOGO
   
Total Shareholder Return Vs Peer Group
 
LOGO
 
   
Tabular List, Table
2024 Performance
Measures
The following list represents the financial and
non-financial
performance measures that we consider to have been the most important in linking Compensation Actually Paid to our PEO and
non-PEO
NEOs to company performance. The measures in this list are not ranked. Of these measures, we have identified Net Product Revenue as our most important of our financial performance measures used to link Compensation Actually Paid to our PEO and
non-PEO
NEOs to company performance:
Net Product Revenue
Net Income
Completion of a transformational acquisition
Quality and Compliance
   
Total Shareholder Return Amount $ 557 448 496
Peer Group Total Shareholder Return Amount 88 54 69
Net Income (Loss) $ 163,889,000 $ 71,410,000 $ 83,079,000
Company Selected Measure Amount 489,327,000 396,502,000 213,938,000
PEO Name Richard J. Daly    
Measure:: 1      
Pay vs Performance Disclosure      
Name Net Product Revenue    
Measure:: 2      
Pay vs Performance Disclosure      
Name Net Income    
Measure:: 3      
Pay vs Performance Disclosure      
Name Completion of a transformational acquisition    
Measure:: 4      
Pay vs Performance Disclosure      
Name Quality and Compliance    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (6,338,431) $ (749,999) $ (5,727,859)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 6,922,548 943,365 7,659,348
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,488,419 (736,903) 3,460,212
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 49,848 (595,928) 5,234,201
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,838,396) (1,446,560) (1,939,664)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,237,565 1,819,515 2,316,864
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 572,615 (326,149) 2,394,265
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 329,407 $ (350,675) $ 1,947,593