Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2023 |
Accounting Policies [Abstract] |
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Disaggregation of revenue |
Revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition. | | | | | | | | | | | | | | | | | | In thousands | Year Ended December 31, 2023 | Products By Geographic Area | Total | | U.S. | | Rest of World | Drug Revenues | | | | | | Product Sales - Point-in-time | $ | — | | | $ | — | | | $ | — | | License Fee – Over time | 2,338 | | | — | | | 2,338 | | Total Drug Products | 2,338 | | | — | | | 2,338 | | Concentrate Products | | | | | | Product Sales – Point-in-time | 79,802 | | | 72,871 | | | 6,931 | | License Fee – Over time | 1,472 | | | 1,472 | | | — | | Total Concentrate Products | 81,274 | | | 74,343 | | | 6,931 | | Net Revenue | $ | 83,612 | | | $ | 74,343 | | | $ | 9,269 | | | | | | | | In thousands | Year Ended December 31, 2022 | Products By Geographic Area | Total | | U.S. | | Rest of World | Drug Revenues | | | | | | Product Sales - Point-in-time | $ | 903 | | | $ | 561 | | | $ | 342 | | License Fee – Over time | 256 | | | — | | | 256 | | Total Drug Products | 1,159 | | | $ | 561 | | | 598 | | Concentrate Products | | | | | | Product Sales – Point-in-time | 69,162 | | | 62,715 | | | 6,447 | | License Fee – Over time | 2,489 | | | 2,489 | | | — | | Total Concentrate Products | 71,651 | | | 65,204 | | | 6,447 | | Net Revenue | $ | 72,810 | | | $ | 65,765 | | | $ | 7,045 | |
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Contract balances |
The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers. | | | | | | | | | | | | | | | | | | In thousands | December 31, 2023 | | December 31, 2022 | | January 1, 2022 | Accounts Receivable, net | $ | 10,901 | | | $ | 6,259 | | | $ | 5,913 | | Contract Liabilities, which are included in deferred license revenue | $ | 521 | | | $ | 4,331 | | | $ | 8,157 | |
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Summary of loss per share restated amounts |
The table below summarizes previously reported and restated amounts on a comparative basis. | | | | | | | | | | | Year Ended December 31, | | | 2022 | As Previously Reported: | | | Net Loss Per Share Attributable to Common Stockholders - Basic and Diluted | | $ | (1.89) | | Weighted Average Number of Shares of Common Stock Outstanding - Basic and Diluted | | 9,866,844 | | | | | As Restated: | | | Net Loss Per Share Attributable to Common Stockholders - Basic and Diluted | | $ | (1.31) | | Weighted Average Number of Shares of Common Stock Outstanding - Basic and Diluted | | 14,304,512 | |
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Summary of potentially dilutive securities |
The following table includes the potential shares of common stock, presented based on amounts outstanding at each period end, that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: | | | | | | | | | | | | | As of December 31, | | 2023 | | 2022 | Warrants to purchase common stock | 3,793,388 | | | 10,196,268 | | Convertible Preferred Stock | 1,363,636 | | | 1,363,636 | | Options to purchase common stock | 1,328,621 | | | 1,206,905 | | Unvested restricted stock units | 258,885 | | | 125,000 | | Unvested restricted stock awards | 891 | | | 891 | | Total | 6,745,421 | | | 12,892,700 | |
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Schedule of Basic and Diluted Net Loss Per Share |
The following table presents the calculation of basic and diluted EPS: | | | | | | | | | | | | | Years Ended December 31, | | 2023 | | 2022 | Numerator: | | | | Net Loss | $ | (8,439) | | | $ | (18,679) | | Accretion of Series X Preferred Stock | (150) | | | — | | Net Loss Attributable to Common Stockholders | $ | (8,589) | | | $ | (18,679) | | Denominator | | | | Weighted Average Number of Shares of Common Stock Outstanding - Basic and Diluted | 23,322,915 | | | 14,304,512 | | Net Loss Per Share Attributable to Common Stockholders - Basic and Diluted | $ | (0.37) | | | $ | (1.31) | |
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