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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating expenses:        
Selling, general and administrative $ 3,258 $ 3,321 $ 6,383 $ 7,970
Research and development 1,064 4,439 1,889 10,172
Change in fair value of contingent consideration 16 (161,233) (3,472) (97,464)
Total operating costs and expenses 4,338 (153,473) 4,800 (79,322)
(Loss) income from operations (4,338) 153,473 (4,800) 79,322
Other (loss) income:        
Change in fair value of convertible notes (1,854) 1,795 (3,485) 1,708
Change in fair value of warrants (542) 5,905 86,187 (14,999)
Loss on issuance of warrants     (75,644)  
Loss on embedded forward purchase agreements and derivative liabilities, net   2,905   (20,012)
Other income, net 92 34 195 75
Total other (loss) income, net (2,304) 10,639 7,253 (33,228)
(Loss) income before taxes (6,642) 164,112 2,453 46,094
Net (loss) income $ (6,642) $ 164,112 $ 2,453 $ 46,094
Basic net (loss) income per share (in dollars per share) $ (0.6) $ 304 $ 0.32 $ 87.15
Diluted net (loss) income per share (in dollars per share) $ (0.6) $ 304 $ 0.31 $ 87.15
Weighted average shares of common stock outstanding used to compute basic net (loss) income per share 11,090,809 539,840 7,557,472 528,878
Weighted average shares of common stock outstanding used to compute diluted net (loss) income per share 11,090,809 539,840 7,848,566 528,878