Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes are as follows:

Expense classification:	Year Ended December 31,
	2024		2023
Current
Federal	$	(14)	$	245
State	—		—
Total	(14)		245
Deferred
Federal	—		—
State	—		—
Total	—		—
Provision for Income Tax	$	(14)	$	245

Schedule of Deferred Tax Assets and Liabilities

The tax effect of temporary differences between the tax bases of assets and liabilities and their financial reporting amounts that give rise to the deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2023 are as follows:

	December 31,
	2024		2023
Deferred tax assets:
Accounts receivable	$	—	$	4
Inventory	337		345
Accrued expenses	186		73
NOL carryforwards	34,689		27,120
Interest limitation imposed by the TJCA	11,594		9,880
Stock Compensation	6,862		6,529
Deferred Revenue	5,157		7,662
Royalty Monetization	16,117		16,750
Property and Equipment	2,690		2,756
Orphan Drug and R&D Tax Credits	5,099		4,805
Intangible Assets	137		154
Section 174 R&D Capitalization	7,263		5,039
Sales of Royalty Rights	3,438		3,520
OID and Deferred Financing Cost	1,636		—
Other	143		58
	95,348		84,695
Deferred tax liabilities:
OID and Deferred Financing Cost	—		(193)
Prepaid expenses	(795)		(449)
	(795)		(642)
Valuation Allowance	(94,553)		(84,053)
Net deferred tax asset/(liability)	$	—	$	—

Schedule of Income Tax Benefit Reconciliation

A reconciliation of income tax benefit and the amount computed by applying the statutory federal income tax rates of 21% to loss before taxes for the years ended December 31, 2024 and 2023, respectively, as follows:

	Year Ended December 31,
	2024		2023
Income taxes at statutory rate	21.00	%	21.00	%
Increase (decrease) resulting from:
State income tax	3.27		4.00
Permanent differences	(1.10)		(0.43)
Valuation allowance	(23.50)		(26.53)
Return to provision	1.06		(3.28)
State rate change	(0.69)		(1.78)
FDII Deductions	0.00		3.80
Other	(0.01)		—
Effective tax rate	0.03	%	(3.22)	%