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Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Fair Value Measurement Inputs and Valuation Techniques
The following table summarizes the significant unobservable inputs used in the initial fair value measurement of the Royalty Right Agreements:
Valuation MethodologySignificant Unobservable InputWeighted Average (range, if applicable)
Discount Rate15%
Royalty Right AgreementsProbability weighted
income approach
Probability of Success75%
Projected Years of Payments2025-2033
Schedule of Long-Term Debt Instruments
Long-term notes and unamortized debt discount balances are as follows:
 March 31,December 31,
 20242023
Total outstanding notes
$45,000 $45,000 
Unamortized discount, including Exit Fee
(16,408)(17,665)
Notes payable, long-term
28,592 27,335 
Finance lease
167 173 
Notes payable, net
$28,759 $27,508 
 March 31,December 31,
 20242023
Royalty obligations
$56,926 $56,926 
Unamortized discount(40,807)(42,165)
Royalty obligations, net
$16,119 $14,761 
Debt Maturity
Scheduled principal payments on the 13.5% Notes as of March 31, 2024 are as follows:
Remainder of 2024$— 
2025 
20269,540 
202714,535 
202820,925 
Total$45,000