Revenues and Trade Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

The Company's revenues were comprised of the following:

	Three Months Ended March 31,
	2025		2024
Manufacture and supply revenue	$	7,193	$	10,518
License and royalty revenue	790		1,132
Co-development and research fees	418		403
Proprietary product revenue, net	319		—
Total revenues	$	8,720	$	12,053

Disaggregation of Revenue

The following table provides disaggregated net revenue by geographic area:

	Three Months Ended March 31,
	2025		2024
United States	$	5,201	$	10,427
Ex-United States	3,519		1,626
Total revenues	$	8,720	$	12,053

Trade and Other Receivables, Net

Trade and other receivables, net consist of the following:

	March 31, 2025		December 31, 2024
Trade receivables	$	8,308	$	4,919
Contract and other receivables	2,213		2,473
Less: sales-related allowances	(77)		(48)
Trade and other receivables, net	$	10,444	$	7,344

Contract and other receivables totaled $2,213 and $2,473 as of March 31, 2025 and December 31, 2024, respectively, consisting primarily of contract assets and other receivables. Contract assets consist of products and services provided under specific contracts to customers for which earnings processes have been met prior to shipment of goods or full delivery of completed services, as well as estimated receivables from contracts with third parties. Other receivables include the current portion related to the Monetization royalty receivable and other receivables. Sales-related allowances as of March 31, 2025 were estimated in relation to revenues recognized for sales of Libervant for patients between two to five years of age.

Allowance for Credit Losses

The Company maintains an allowance for credit losses on accounts receivable, which is recorded as a reduction to accounts receivable. Changes in the allowance are classified as Selling, general and administrative expenses in the Statements of Operations and Comprehensive Loss. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when it identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status. It also considers customer-specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. On an ongoing basis, management evaluates the adequacy of these reserves. The allowance for credit losses was $0 as of March 31, 2025 and December 31, 2024.

The following tables provides a summary of activity with respect to sales-related allowances:

	March 31, 2025		December 31, 2024
Balance at beginning of period	$	48	$	—
Provision	45		71
Payments / credits	(16)		(23)
Balance at end of period	$	77	$	48

Changes in Allowance for Bad Debt

The following table presents the changes in the allowance for credit losses:

	March 31, 2025		December 31, 2024
Balance at beginning of the period	$	—	$	14
Allowance reduction	—		(14)
Balance at end of the period	$	—	$	—