​

​

March 31, 

​

December 31,

($ in thousands)

  ​ ​ ​

2026

  ​ ​ ​

2025

Accounts payable

​

$

14,139

​

$

14,238

Accrued expenses:

​

  ​

​

  ​

Professional fees¹

​

​

6,971

​

​

1,055

Salaries, bonus and related benefits

​

7,381

​

7,880

Research and development

​

355

​

277

Accrued royalties payable

​

1,863

​

1,805

Accrued coupons and rebates

​

14,770

​

16,547

Return reserve

​

​

2,508

​

​

2,177

Cyprium payment owed to NIH²

​

​

41,000

​

​

—

Other³

​

3,999

​

3,146

Total accounts payable and accrued expenses

​

$

92,986

​

$

47,125

Note 1:

On March 30, 2026, Cyprium closed a sale of its PRV (the “PRV APA”) for gross proceeds of $205 million. Cyprium is obligated to pay 2.5% of the PRV APA proceeds, or $5.1 million, to a third-party pursuant to an agreement.

Note 2:

Cyprium is obligated to pay 20% of the PRV APA proceeds, or $41 million, to the Eunice Kennedy Shriver National Institute of Child Health and Human Development, an institute of the National Institutes of Health (“NIH”).

Note 3:

Includes approximately $1.3 million of accrued consideration for Mustang, including approximately $50,000 of accrued interest, related to Mustang’s obligation to repurchase assets from uBriGene (Boston) Biosciences, Inc. (“uBriGene”) in 2024. The asset repurchase consisted of purchase consideration of an upfront payment of $0.1 million, and a deferred amount of approximately $1.3 million due twelve months after closing; however, Mustang can elect to delay its payment obligation for the deferred amount for additional six-month periods, upon written notice to uBriGene, if Mustang’s net assets are below $20 million. Additionally, beginning in June 2025, the deferred amount began accruing interest at a rate of 5% per annum. In December 2025, Mustang’s net assets were below $20 million, and it elected to delay the payment.