Selected Balance Sheet Components

9 Months Ended

Sep. 30, 2025

Balance Sheet Related Disclosures [Abstract]

Selected Balance Sheet Components

Selected Balance Sheet Components

Inventory

Inventory consisted of the following:

(In thousands)	September 30, 2025		December 31, 2024
Raw materials	$	12,704	$	12,827
Work-in-process	1,466		1,571
Finished goods	3,985		2,975
Total inventory	$	18,155	$	17,373

Property and Equipment

Property and Equipment, net consisted of the following:

(In thousands)	September 30, 2025		December 31, 2024
Machinery and equipment	$	13,647	$	12,161
Furniture, fixtures and office equipment	5,221		5,109
Computer equipment and software	19,039		12,318
Leasehold improvements	76,393		77,990
Construction in process	23,797		22,482
Total property and equipment, gross	138,097		130,060
Less accumulated depreciation	(28,717)		(26,899)
Total property and equipment, net	$	109,380	$	103,161

Depreciation expense for the three and nine months ended September 30, 2025, was $2.8 million and $8.0 million, respectively, and $1.2 million and $3.5 million, respectively, for the same periods in 2024.

Intangible Assets

Intangible assets, net consisted of the following:

			September 30, 2025						December 31, 2024
(In thousands)	Useful Life (in years)	Amortization Method	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
NexoBrid license	12	Straight-line	$	7,500	$	(1,719)	$	5,781	$	7,500	$	(1,250)	$	6,250

Amortization expense for the three and nine months ended September 30, 2025 and for the same periods in 2024, was $0.2 million and $0.5 million, respectively.

Future amortization expense of intangible assets as of September 30, 2025 is estimated to be as follows:

(In thousands)	Amount
Remainder of 2025	$	156
2026	625
2027	625
2028	625
2029	625
Thereafter	3,125
Total	$	5,781

Accrued Expenses

Accrued Expenses consisted of the following:

(In thousands)	September 30, 2025		December 31, 2024
Bonus-related compensation	$	8,283	$	10,313
Employee-related accruals	3,603		3,269
Insurance reimbursement-related liabilities	3,773		3,159
Other accrued expenses	627		324
Total accrued expenses	$	16,286	$	17,065