Fortress Biotech (FBIO) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-35366
Entity Registrant Name	Fortress Biotech, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5157386
Entity Address, Address Line One	1111 Kane Concourse Suite 301
Entity Address, City or Town	Bay Harbor Islands
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33154
City Area Code	781
Local Phone Number	652-4500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001429260
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	FBIO
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		22,813,954
9.375% Series A Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	9.375% Series A Cumulative Redeemable Perpetual Preferred Stock
Trading Symbol	FBIOP
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		3,427,138

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 76,201	$ 80,927
Accounts receivable, net	10,465	15,222
Inventory	9,687	10,206
Prepaid expenses and other current assets	4,649	10,500
Assets held for sale	2,209
Total current assets	103,435	117,022
Property, plant and equipment, net	3,546	6,505
Operating lease right-of-use asset, net	14,626	16,990
Restricted cash	2,063	2,438
Intangible assets, net	18,658	20,287
Other assets	3,357	4,284
Total assets	145,685	167,526
Current liabilities
Accounts payable and accrued expenses	68,921	73,562
Income taxes payable	806	843
Common stock warrant liabilities	172	886
Operating lease liabilities, short-term	2,481	2,523
Partner company convertible preferred shares, short-term, net	0	3,931
Partner company installment payments - licenses, short-term, net	3,000	3,000
Other short-term liabilities	163	163
Total current liabilities	75,543	84,908
Notes payable, long-term, net	67,007	60,856
Operating lease liabilities, long-term	15,934	18,282
Other long-term liabilities	1,799	1,893
Total liabilities	160,283	165,939
Commitments and contingencies (Note 14)
Stockholders' equity (deficit)
Cumulative redeemable perpetual preferred stock, $0.001 par value, 15,000,000 authorized, 5,000,000 designated Series A shares, 3,427,138 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively, liquidation value of $25.00 per share	3	3
Common stock, $0.001 par value, 200,000,000 shares authorized, 22,587,038 and 15,093,053 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	23	15
Additional paid-in-capital	739,086	717,396
Accumulated deficit	(721,235)	(694,870)
Total stockholders' equity attributed to the Company	17,877	22,544
Non-controlling interests	(32,475)	(20,957)
Total stockholders' equity (deficit)	(14,598)	1,587
Total liabilities and stockholders' equity (deficit)	145,685	167,526
Related Party
Current assets
Other receivables - related party	$ 224	$ 167

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Unaudited Condensed Consolidated Balance Sheets
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	15,000,000	15,000,000
Preferred Stock shares designated	5,000,000	5,000,000
Preferred Stock, shares issued	3,427,138	3,427,138
Preferred Stock, shares outstanding	3,427,138	3,427,138
Preferred Stock, liquidation preference per share	$ 25	$ 25
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	200,000,000	200,000,000
Common Stock, shares issued	22,587,038	15,093,053
Common Stock, shares outstanding	22,587,038	15,093,053

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Product revenue, net	$ 14,855	$ 16,961	$ 27,885	$ 29,126
Collaboration revenue		183		364
Other revenue		211		259
Net revenue	14,896	17,386	27,926	29,815
Operating expenses
Cost of goods sold - product revenue	6,541	7,767	13,357	14,216
Research and development	12,671	32,139	37,495	67,415
Research and development - licenses acquired		3		4,233
Selling, general and administrative	20,823	24,439	38,777	49,780
Asset impairment	2,649	3,143	2,649	3,143
Total operating expenses	42,684	67,491	92,278	138,787
Loss from operations	(27,788)	(50,105)	(64,352)	(108,972)
Other income (expense)
Interest income	734	715	1,567	1,751
Interest expense and financing fee	(2,122)	(6,425)	(4,724)	(10,721)
Change in fair value of warrant liabilities		(512)		6,166
Gain (loss) on common stock warrant liabilities	70		(597)
Loss from deconsolidation of subsidiaries		(3,369)		(3,369)
Other income (expense)	282	395	260	699
Total other income (expense)	(1,036)	(9,196)	(3,494)	(5,474)
Net loss	(28,824)	(59,301)	(67,846)	(114,446)
Net loss attributable to non-controlling interests	17,876	34,525	41,481	68,133
Net loss attributable to Fortress	(10,948)	(24,776)	(26,365)	(46,313)
Net loss attributable to common stockholders	$ (13,339)	$ (26,917)	$ (31,199)	$ (50,595)
Net loss per common share attributable to common stockholders - basic	$ (0.73)	$ (3.65)	$ (1.76)	$ (7.14)
Net loss per common share attributable to common stockholders - diluted	$ (0.73)	$ (3.65)	$ (1.76)	$ (7.14)
Weighted average common shares outstanding - basic	18,316,874	7,377,332	17,736,299	7,086,482
Weighted average common shares outstanding - diluted	18,316,874	7,377,332	17,736,299	7,086,482
Related Party
Revenue
Revenue - related party	$ 41	$ 31	$ 41	$ 66

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Preferred Stock	Common Stock	Common Shares Issuable	Additional Paid-In Capital	Accumulated Deficit	Non-Controlling Interests	Total
Balance at Dec. 31, 2022	$ 3	$ 7		$ 675,944	$ (634,233)	$ 8,304	$ 50,025
Balance (in shares) at Dec. 31, 2022	3,427,138	7,366,283
Stock-based compensation expense				8,948			8,948
Issuance of common stock related to equity plans (in shares)		183,856
Issuance of common stock for public offering, net		$ 2		13,152			13,154
Issuance of stock for public offerings, net (in shares)		1,109,526
Issuance of common stock under ESPP				88			88
Issuance of common stock for at-the-market offering, net				1,168			1,168
Issuance of common stock for at-the-market offering, net (in shares)		106,425
Common shares issued for dividend on partner company's convertible preferred shares			$ 23	108			131
Common shares issued for dividend on partner company's convertible preferred shares (in shares)		11,066
Partner company's offering, net				21,977			21,977
Partner company's exercise of options for cash				3			3
Preferred A dividends declared and paid				(4,016)			(4,016)
Partner company's dividends declared and paid				(371)			(371)
Issuance of partner company's common shares for research and development expenses				1,233			1,233
Warrants				272			272
Deconsolidation/dissolution of subsidiary non-controlling interests						5,891	5,891
Non-controlling interest in partner companies				(19,486)		19,486
Net loss attributable to non-controlling interest						(68,133)	(68,133)
Net loss attributable to common stockholders					(46,313)		(46,313)
Balance at Jun. 30, 2023	$ 3	$ 9	23	699,020	(680,546)	(34,452)	(15,943)
Balance (in shares) at Jun. 30, 2023	3,427,138	8,777,156
Balance at Mar. 31, 2023	$ 3	$ 9		693,554	(655,770)	(17,990)	19,806
Balance (in shares) at Mar. 31, 2023	3,427,138	8,694,477
Stock-based compensation expense				4,217			4,217
Issuance of common stock related to equity plans (in shares)		5,515
Issuance of common stock for public offering, net				(41)			(41)
Issuance of common stock for at-the-market offering, net				721			721
Issuance of common stock for at-the-market offering, net (in shares)		66,098
Common shares issued for dividend on partner company's convertible preferred shares			23	108			131
Common shares issued for dividend on partner company's convertible preferred shares (in shares)		11,066
Partner company's offering, net				14,460			14,460
Partner company's exercise of options for cash				3			3
Issuance of common stock under partner company's ESPP				88			88
Preferred A dividends declared and paid				(2,008)			(2,008)
Partner company's dividends declared and paid				(185)			(185)
Issuance of partner company's common shares for research and development expenses				3			3
Partner company's warrants issued in conjunction with debt				272			272
Deconsolidation/dissolution of subsidiary non-controlling interests						5,891	5,891
Non-controlling interest in partner companies				(12,172)		12,172
Net loss attributable to non-controlling interest						(34,525)	(34,525)
Net loss attributable to common stockholders					(24,776)		(24,776)
Balance at Jun. 30, 2023	$ 3	$ 9	$ 23	699,020	(680,546)	(34,452)	(15,943)
Balance (in shares) at Jun. 30, 2023	3,427,138	8,777,156
Balance at Dec. 31, 2023	$ 3	$ 15		717,396	(694,870)	(20,957)	1,587
Balance (in shares) at Dec. 31, 2023	3,427,138	15,093,053
Stock-based compensation expense				9,856			9,856
Issuance of common stock related to equity plans (in shares)		495,761
Issuance of common stock for public offering, net		$ 3		10,115			10,118
Issuance of stock for public offerings, net (in shares)		3,303,305
Issuance of common stock under ESPP				51			51
Issuance of common stock under ESPP (in shares)		29,844
Issuance of common stock for at-the-market offering, net		$ 2		2,824			2,826
Issuance of common stock for at-the-market offering, net (in shares)		1,554,483
Common shares issued for dividend on partner company's convertible preferred shares				114			114
Common shares issued for dividend on partner company's convertible preferred shares (in shares)		64,747
Common shares issued for exchange of partner company's convertible preferred shares		$ 3		3,406			3,409
Common shares issued for exchange of partner company's convertible preferred shares (in shares)		2,028,345
Exercise of warrants for cash				30			30
Exercise of warrants for cash (in shares)		17,500
Partner company's offering, net				18,002			18,002
Partner company's at-the-market offering, net				1,779			1,779
Warrants issued in conjunction with exchange of partner company's convertible preferred shares				341			341
Issuance of common stock under partner company's ESPP				133			133
Preferred A dividends declared and paid				(4,016)			(4,016)
Partner company's dividends declared and paid				(352)			(352)
Exercise of partner company options and warrants for cash, net				9,370			9,370
Non-controlling interest in partner companies				(29,963)		29,963
Net loss attributable to non-controlling interest						(41,481)	(41,481)
Net loss attributable to common stockholders					(26,365)		(26,365)
Balance at Jun. 30, 2024	$ 3	$ 23		739,086	(721,235)	(32,475)	(14,598)
Balance (in shares) at Jun. 30, 2024	3,427,138	22,587,038
Balance at Mar. 31, 2024	$ 3	$ 19		733,290	(710,287)	(26,962)	(3,937)
Balance (in shares) at Mar. 31, 2024	3,427,138	19,375,343
Stock-based compensation expense				4,998			4,998
Issuance of common stock related to equity plans (in shares)		34,293
Issuance of common stock under ESPP				51			51
Issuance of common stock under ESPP (in shares)		29,844
Issuance of common stock for at-the-market offering, net		$ 1		1,930			1,931
Issuance of common stock for at-the-market offering, net (in shares)		1,092,283
Common shares issued for dividend on partner company's convertible preferred shares				46			46
Common shares issued for dividend on partner company's convertible preferred shares (in shares)		26,930
Common shares issued for exchange of partner company's convertible preferred shares		$ 3		3,406			3,409
Common shares issued for exchange of partner company's convertible preferred shares (in shares)		2,028,345
Partner company's offering, net				5,265			5,265
Partner company's at-the-market offering, net				295			295
Warrants issued in conjunction with exchange of partner company's convertible preferred shares				341			341
Partner companies' proceeds from options and warrants, net				4,010			4,010
Preferred A dividends declared and paid				(2,008)			(2,008)
Partner company's dividends declared and paid				(176)			(176)
Non-controlling interest in partner companies				(12,363)		12,363
Net loss attributable to non-controlling interest						(17,876)	(17,876)
Net loss attributable to common stockholders					(10,948)		(10,948)
Balance at Jun. 30, 2024	$ 3	$ 23		$ 739,086	$ (721,235)	$ (32,475)	$ (14,598)
Balance (in shares) at Jun. 30, 2024	3,427,138	22,587,038

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net loss	$ (67,846)	$ (114,446)
Reconciliation of net loss to net cash used in operating activities:
Depreciation expense	753	1,476
Loss on disposal of property and equipment	29	0
Bad debt expense	152	574
Amortization of debt discount	1,365	1,867
Accretion of partner company convertible preferred shares	(737)	521
Non-cash interest	0	176
Loss on extinguishment of debt	0	2,796
Amortization of acquired intangible assets	1,629	2,138
Reduction in the carrying amount of operating lease right-of-use assets	1,893	1,052
Stock-based compensation expense	9,856	8,948
Issuance of partner company's common shares for research and development expenses	0	1,233
Expense associated with partner company warrant liabilities	445	(6,166)
Common shares issued for dividend on partner company's convertible preferred shares	114	131
Research and development - licenses acquired, expense	0	3,000
Loss from deconsolidation/dissolution of subsidiaries	0	3,369
Asset impairment loss	2,649	2,923
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:
Accounts receivable	4,605	10,897
Inventory	519	1,993
Other receivables - related party	(57)	(135)
Prepaid expenses and other current assets	1,837	2,243
Other assets	927	(97)
Accounts payable and accrued expenses	(2,837)	433
Deferred revenue	0	(364)
Income taxes payable	(37)	1
Lease liabilities	(2,390)	(980)
Other long-term liabilities	(94)	(94)
Net cash used in operating activities	(47,225)	(76,511)
Cash Flows from Investing Activities:
Purchase of research and development licenses	0	(2,000)
Purchase of property and equipment	0	(34)
Other	0	(5)
Acquisition of VYNE products	0	(5,000)
Net cash used in investing activities	0	(7,039)
Cash Flows from Financing Activities:
Payment of Series A perpetual preferred stock dividends	(4,016)	(4,016)
Proceeds from issuance of common stock for public offering, net	10,118	13,248
Proceeds from issuance of common stock for at-the-market offering, net	2,826	1,168
Proceeds from issuance of common stock under ESPP	51	0
Exercise of warrants for cash	30	0
Proceeds from partner companies' ESPP	133	88
Partner company's dividends declared and paid	(352)	(371)
Proceeds from partner companies' sale of stock, options and warrants, net	26,214	24,455
Proceeds from partner companies' at-the-market offering, net	1,779	0
Proceeds from exercise of partner companies' equity grants	0	3
Proceeds from partner company convertible preferred shares	0	854
Stock and warrants issued for exchange of partner company preferred shares	341	0
Payment of debt issuance costs associated with partner company convertible preferred shares	0	(210)
Proceeds from partner companies' long-term debt, net	5,000	(90)
Repayment of partner companies' long-term debt	0	(40,375)
Proceeds from partner company's line of credit	0	28,000
Repayment of partner company's line of credit	0	(30,948)
Net cash (used in) provided by financing activities	42,124	(8,194)
Net increase (decrease) in cash and cash equivalents and restricted cash	(5,101)	(91,744)
Cash and cash equivalents and restricted cash at beginning of period	83,365	180,954
Cash and cash equivalents and restricted cash at end of period	78,264	89,210
Supplemental disclosure of cash flow information:
Cash paid for interest	3,536	5,131
Cash paid (refunded) for income taxes	115	(52)
Supplemental disclosure of non-cash financing and investing activities:
Transfer of assets classified as held for sale	0	4,348
Exchange of partner company convertible preferred shares	3,408	0
Fair value of assets received by partner company in repurchase transaction	2,209	0
Fair value of supplies received by partner company expensed to research and development	2,509	0
Partner company accounts receivable write-off related to repurchase transaction	(6,967)	0
Partner company accounts payable write-off related to repurchase transaction	3,644	0
Partner company's net purchase consideration of assets recorded to accrued other	(1,395)	0
Settlement of restricted stock units into common stock	0	3
Unpaid partner company's offering cost	0	246
Partner company derivative warrant liability associated with partner company convertible preferred shares	0	33
Prepaid public offering cost	$ 0	94
Partner company's warrants issued in conjunction with debt		$ 272

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2024
Organization and Description of Business
Organization and Description of Business	1. Organization and Description of Business Fortress Biotech, Inc. (“Fortress” or the “Company”) is a biopharmaceutical company focused on acquiring and advancing assets to enhance long-term value for shareholders through product revenue, equity holding and dividend and royalty revenue streams. Fortress works in concert with its extensive network of key opinion leaders to identify and evaluate promising products and product candidates for potential acquisition. The Company has executed such arrangements in partnership with some of the world’s foremost universities, research institutes and pharmaceutical companies, including City of Hope National Medical Center (“COH” or “City of Hope”), Fred Hutchinson Cancer Center, Dana-Farber Cancer Institute, Nationwide Children’s Hospital, Cincinnati Children’s Hospital Medical Center, Columbia University, the University of Pennsylvania, AstraZeneca plc and Dr. Reddy’s Laboratories, Ltd. Following the exclusive license or other acquisition of the intellectual property underpinning a product or product candidate, Fortress leverages its business, scientific, regulatory, legal and finance expertise to help the partners achieve their goals. Partner and subsidiary companies then assess a broad range of strategic arrangements to accelerate and provide additional funding to support research and development, including joint ventures, partnerships, out-licensings, sales transactions, and public and private financings. To date, four partner companies are publicly-traded, and three have consummated strategic partnerships with industry leaders, including AstraZeneca plc as successor-in-interest to Alexion Pharmaceuticals, Inc. (“AstraZeneca”) and Sentynl Therapeutics, Inc. (“Sentynl”). Our subsidiaries and partner companies that are pursuing development and/or commercialization of biopharmaceutical products and product candidates are: Avenue Therapeutics, Inc. (Nasdaq: ATXI, “Avenue”), Baergic Bio, Inc. (“Baergic”, a subsidiary of Avenue), Cellvation, Inc. (“Cellvation”), Checkpoint Therapeutics, Inc. (Nasdaq: CKPT, “Checkpoint”), Cyprium Therapeutics, Inc. (“Cyprium”), Helocyte, Inc. (“Helocyte”), Journey Medical Corporation (Nasdaq: DERM, “Journey” or “JMC”), Mustang Bio, Inc. (Nasdaq: MBIO, “Mustang”) and Oncogenuity, Inc. (“Oncogenuity”). As used throughout this filing, the words “we”, “us” and “our” may refer to Fortress individually, to one or more of its subsidiaries and/or partner companies, or to all such entities as a group, as dictated by context. Generally, “subsidiary” refers to a private Fortress subsidiary, “partner company” refers to a public Fortress subsidiary, and “partner” refers to an entity with whom one of the foregoing parties has a significant business relationship, such as an exclusive license or an ongoing product-related payment obligation. The context in which any such term is used throughout this document, however, may dictate a different construal from the foregoing. Liquidity and Capital Resources Since inception, the Company’s operations have been financed primarily through the sale of equity and debt securities, from the sale of subsidiaries/partner companies, and the proceeds from the exercise of warrants. The Company has incurred losses from operations and negative cash flows from operating activities since inception and expects to continue to incur substantial losses for the next several years as it continues to fully develop and prepare regulatory filings and obtain regulatory approvals for its existing and new product candidates. The parent Company’s current cash and cash equivalents of $38.2 million are sufficient to fund the parent entity and private subsidiary operations for at least the next 12 months. However, the Company will need to raise additional funding through strategic relationships, public or private equity or debt financings, sale of partner companies, grants or other arrangements to develop and prepare regulatory filings and obtain regulatory approvals for the existing and new product candidates, fund operating losses, and, if deemed appropriate, establish or secure through third parties manufacturing for the potential products, sales and marketing capabilities. If such funding is not available or not available on terms acceptable to the Company, the Company’s current development plans and plans for expansion of its general and administrative infrastructure may be curtailed. Fortress also has the ability, subject to limitations imposed by Rule 144 of the Securities Act of 1933 and other applicable laws and regulations, to raise money from the sale of common stock of the public companies in which it has ownership positions. ​

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the unaudited condensed consolidated financial statements have read or have access to the audited financial statements for the preceding fiscal year for each of Avenue, Checkpoint, Mustang and Journey. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, which was filed with the United States Securities and Exchange Commission (“SEC”) on March 28, 2024 (the “2023 Form 10-K”), from which the Company derived the balance sheet data at December 31, 2023, as well as Checkpoint’s Form 10-K, filed with the SEC on March 22, 2024, Mustang’s Form 10-K, filed with the SEC on March 11, 2024, Avenue’s Form 10-K, filed with the SEC on March 18, 2024, and Journey’s Form 10-K, filed with the SEC on March 29, 2024. The Company’s unaudited condensed consolidated financial statements include the results of the Company’s subsidiaries for which it has voting control but does not own 100% of the outstanding equity of the subsidiaries. For consolidated entities where the Company owns less than 100% of the subsidiary, but retains voting control, the Company records net loss attributable to non-controlling interests in its consolidated statements of operations and presents non-controlling interests as a component of stockholders’ equity on its consolidated balance sheets. All intercompany income and/or expense items are eliminated entirely in consolidation prior to the allocation of net gain/loss attributable to non-controlling interest, which is based on ownership interests as calculated quarterly for each subsidiary. Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. The Company’s significant estimates include, but are not limited to provisions for coupons, chargebacks, wholesaler fees, specialty pharmacy discounts, managed care rebates, product returns, inventory realization, valuation of intangible assets, useful lives assigned to long-lived assets and amortizable intangible assets, fair value of stock options and warrants, stock-based compensation, common stock issued to acquire licenses, accrued expenses and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from these estimates. Restricted Cash The Company records cash held in trust or pledged to secure certain debt obligations as restricted cash. As of June 30, 2024 and December 31, 2023, the Company had $2.1 million and $2.4 million, respectively, of restricted cash representing pledges to secure debt obligations and letters of credit in connection with certain office leases, and an undertaking posted by Cyprium to secure potential damages in an injunctive proceeding. The following table provides a reconciliation of cash, cash equivalents, and restricted cash from the unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows as of the dates presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2024 ​ 2023 Cash and cash equivalents $ 76,201 $ 78,022 Restricted cash ​ 2,063 ​ 11,188 Total cash and cash equivalents and restricted cash ​ $ 78,264 ​ $ 89,210 ​ Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the 2023 Form 10-K other than the following: Assets Held for Sale Assets held for sale represent assets that have met the criteria of “held for sale” accounting, as specified by Accounting Standards Codification (“ASC”) 360, “Long-lived Assets.” As of June 30, 2024, there are $2.2 million of lab and cell processing equipment, furniture and fixtures and computer equipment that are recorded as assets held for sale. The effect of suspending depreciation on the assets held for sale is immaterial to the results of operations. The assets held for sale are part of Mustang’s repurchase of assets from uBriGene (Boston) Biosciences, Inc. (“uBriGene”) (see Note 3). ​ Recently Issued Accounting Pronouncements Accounting Standards Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ​ In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Asset Purchase Agreements

Asset Purchase Agreements	6 Months Ended
	Jun. 30, 2024
Asset Purchase Agreements
Asset Purchase Agreements	3. Asset Purchase Agreements Mustang Agreements with uBriGene On May 18, 2023, Mustang entered into an Asset Purchase Agreement (the “Original Asset Purchase Agreement”) with uBriGene, pursuant to which Mustang agreed to sell its leasehold interest in its cell processing facility located in Worcester, Massachusetts (the “Facility”), and associated assets relating to the manufacturing and production of cell and gene therapies at the Facility to uBriGene (the “Transaction”). Mustang and uBriGene subsequently entered into Amendment No. 1 to the Original Asset Purchase Agreement, dated as of June 29, 2023 (“Amendment No. 1”), and Amendment No. 2 to the Original Asset Purchase Agreement, dated as of July 28, 2023 (“Amendment No. 2,” and together with the Original Asset Purchase Agreement and Amendment No. 1, the “Prior Asset Purchase Agreement”). On July 28, 2023, pursuant to the Prior Asset Purchase Agreement, Mustang completed the sale of all of its assets that primarily relate to the manufacturing and production of cell and gene therapies at the Facility (such operations, the “Transferred Operations” and such assets, the “Transferred Assets”) to uBriGene for upfront consideration of $6 million cash (the “Base Amount”). The Transferred Assets included all of Mustang’s assets, except for Mustang’s lease and related leasehold improvements of the Facility and contracts that are primarily used in the Transferred Operations. Mustang recorded a gain of $1.4 million in connection with the sale of the Transferred Assets and recorded approximately $0.3 million of the base consideration as deferred income, that was to be recognized upon the transfer of the lease. In connection with the Prior Asset Purchase Agreement, Mustang and uBriGene submitted a voluntary joint notice to the U.S. Committee on Foreign Investment in the United States (“CFIUS”). Following CFIUS’s review and subsequent investigation of the transactions related to the Prior Asset Purchase Agreement, on May 13, 2024, Mustang, together with uBriGene and CFIUS, executed a National Security Agreement (the “NSA”), pursuant to which Mustang and uBriGene agreed to abandon the transactions related to the Prior Asset Purchase Agreement and the agreements entered into in connection therewith. The NSA obligated uBriGene and Mustang to terminate agreements between the two parties, including the Manufacturing Services Agreement, Quality Services Agreement, and Subcontracting CDMO Agreement. In addition, uBriGene must sell, or otherwise dispose of, the equipment assets purchased within 180 days after the execution of the NSA. June 2024 Repurchase of Assets On June 27, 2024 (the “Effective Date”), Mustang entered into an Asset Purchase Agreement (the “Repurchase Agreement”) with uBriGene, pursuant to which Mustang agreed, subject to the terms and conditions set forth therein, to repurchase the Transferred Assets, primarily lab equipment and supplies (collectively, the “Repurchased Assets”). Pursuant to the terms of the Repurchase Agreement, Mustang and uBriGene also terminated existing manufacturing and services agreements. As consideration for the Repurchase Agreement, Mustang has agreed to pay to uBriGene a total purchase price (the “Purchase Price”) of $1.4 million, consisting of (i) an upfront payment of $0.1 million due within five (5) business days of the Effective Date and a (ii) subsequent amount of $1.3 million due on the date that is twelve (12) months after the closing date (the “Deferred Amount”). In the event that as of the original (or any extended) date on which the Deferred Amount is payable, Mustang has, as of the date of the public reporting of its then-most recent quarterly audited or unaudited financial statements, net assets below $20 million, then Mustang may, upon written notice to uBriGene, elect to delay its payment obligation of the Deferred Amount by an additional six (6) months, with no limit on the number of such extensions available to Mustang. Notwithstanding the foregoing, if Mustang has not paid the Deferred Amount in full as of the date that is twelve (12) months after closing of the Repurchase Agreement, any amounts that remain outstanding will accrue interest at a rate of 5% per annum beginning on the date that is twelve (12) months after closing and until the Deferred Amount is paid in full. Additionally, in connection with the termination of the agreements described above under the Repurchase Agreement, Mustang agreed to forgive a net receivable from uBriGene of approximately $3.3 million, comprised of outstanding receivables of $6.9 million and payables of $3.6 million, resulting in total purchase consideration in the Repurchase Transactions of approximately $4.7 million. As of June 30, 2024, the $1.4 million Purchase Price was recorded in Accrued Expenses - Other (see Note 10). ​ Mustang allocated the total purchase consideration of $4.7 million to the Repurchased Assets on a relative fair value basis. Mustang used a third-party to perform a valuation of the repurchased equipment, which resulted in a fair value less costs to sell of approximately $2.2 million. The remaining purchase consideration of $2.5 million was allocated to the supplies repurchased. The supplies repurchased with no alternative future use were recognized as research and development expense in an amount of $2.2 million. Repurchased supplies with an alternative future use of $0.3 million were also recognized in research and development expense, as Mustang does not have plans to resume operations in the facility, and it intends to dispose of the supplies in a single transaction with the equipment. Mustang concluded that the disposal group, which includes the repurchased equipment assets and associated supplies with an aggregate value of approximately $2.2 million, met the criteria to be classified as held for sale at the date of acquisition. Avenue ​ InvaGen Pharmaceuticals Inc. (“InvaGen”) Share Repurchase Under the Share Repurchase Agreement between Avenue and InvaGen Pharmaceuticals, Inc. (“InvaGen”) under which Avenue repurchased all of InvaGen’s shares in Avenue, Avenue agreed to pay InvaGen an additional amount as a contingent fee, payable in the form of seven and a half percent (7.5%) of the net proceeds of future financings, until $4.0 million in the aggregate is paid to InvaGen. In connection with equity financings in the first half of 2024, Avenue made payments totaling $0.6 million to InvaGen.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2024
Inventory
Inventory	4. Inventory ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ($ in thousands) 2024 ​ 2023 Raw materials $ 3,583 ​ $ 4,640 Work-in-process 296 ​ 884 Finished goods 6,213 ​ 4,987 Inventory reserve ​ (405) ​ ​ (305) Total inventories $ 9,687 ​ $ 10,206 ​

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment
Property, Plant and Equipment	5. Property and Equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Useful Life June 30, ​ December 31, ($ in thousands) ​ (Years) ​ 2024 ​ 2023 ​ ​ ​ Computer equipment ​ 3 ​ $ 595 ​ $ 595 Furniture and fixtures ​ 5 ​ 1,017 ​ 1,017 Leasehold improvements ​ 15 ​ 13,175 ​ 13,175 Buildings ​ ​ 40 ​ ​ 581 ​ ​ 581 Construction in progress ​ N/A ​ — ​ 29 Total property and equipment ​ ​ ​ ​ 15,368 ​ 15,397 Impairment - leasehold improvements ​ ​ ​ ​ ​ (2,177) ​ ​ — Less: Accumulated depreciation ​ ​ ​ ​ (9,645) ​ (8,892) Property and equipment, net ​ ​ ​ ​ $ 3,546 ​ $ 6,505 ​ Fortress' depreciation expense for the three months ended June 30, 2024 and 2023 was approximately $0.4 million and $0.8 million, respectively, and for the six months ended June 30, 2024 and 2023 was approximately $0.8 million and $1.5 million, respectively. Fortress’ depreciation expense is recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations. ​ Impairment of Long-Lived Assets ​ During the three months ended June 30, 2024, Mustang concluded it had a triggering event requiring assessment of impairment for certain leasehold improvements and the related right of use asset. Mustang assessed the carrying value of the asset group consisting of the leasehold improvements and right-of-use asset in accordance with ASC 360, given the significant changes to Mustang’s operations, operating cash and the repurchase of equipment. The assessment of the recoverability of the asset group concluded that there was impairment on the carrying value of the asset group of approximately $2.6 million, which was allocated on a pro rata basis using the relative carrying amounts of the assets. Approximately $2.2 million of the impairment loss was allocated to leasehold improvements, with the remaining $0.4 million allocated to the right-of-use asset.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements ​ Common Stock Warrant Liabilities ​ ​ ​ ​ ​ ​ ​ Warrants ($ in thousands) liabilities Balance at December 31, 2023 ​ $ 886 Change in fair value of common stock warrants - Avenue ​ ​ (139) Change in fair value of common stock warrants - Checkpoint ​ ​ — Change in fair value of placement agent warrants - Urica ​ ​ (24) Exercise of common stock warrants - Avenue ​ ​ (400) Exchange of common stock warrants - Urica ​ ​ (151) Balance at June 30, 2024 ​ $ 172 ​ Checkpoint ​ Checkpoint deemed the placement agent warrants it issued in connection with its registered direct offering (the “December 2022 Placement Agent Warrants”) to be classified as liabilities on the balance sheet as they contain terms for redemption of the underlying security that are outside its control. The December 2022 Placement Agent Warrants were recorded at the time of closing at a fair value determined by using the Black-Scholes model. Checkpoint will revalue the December 2022 Placement Agent Warrants at each reporting period thereafter for as long as they remain outstanding. At June 30, 2024 and December 31, 2023, the liability associated with the December 2022 Placement Agent Warrants was $0.1 million. ​ A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the warrant liability that are categorized within Level 3 of the fair value hierarchy was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ Checkpoint Warrants ​ 2024 ​ 2023 ​ ​ Exercise price ​ $ 5.41 ​ $ 5.41 ​ ​ Volatility ​ ​ 106.9 % ​ 96.4 % ​ Expected life in years ​ ​ 3.5 ​ ​ 4.0 ​ ​ Risk-free rate ​ ​ 4.5 % ​ 3.8 % ​ ​ Avenue ​ Certain of Avenue’s outstanding warrants to purchase shares of its common stock are classified as liabilities on the balance sheet as they contain terms for redemption of the underlying security that are outside of its control. The Black-Scholes model was used to value these Avenue warrants, at the time of issuance and when re-measured at each financial reporting date, up to exercise or expiration of the warrants, with any changes in fair value being recognized in change in fair value of warrant liabilities, a component of other income (expense) in the unaudited condensed consolidated statements of operations. ​ ​ ​ ​ ​ ​ ​ Avenue ​ ​ Warrant ($ in thousands) ​ Liability Avenue common stock warrant liabilities at December 31, 2023 ​ $ 586 Exercise of Avenue common warrants ​ ​ (400) Change in fair value of common stock warrant liabilities ​ ​ (139) Avenue common stock warrant liabilities at June 30, 2024 ​ $ 47 ​ A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the warrant liability that are categorized within Level 3 of the fair value hierarchy was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ December 31 ​ ​ ​ ​ 2024 ​ ​ 2023 ​ ​ Stock price ​ $ 3.50 ​ ​ $ 12.00 ​ ​ Risk-free interest rate 4.52 % ​ 3.84 % ​ Expected dividend yield — ​ — ​ Expected term in years 3.3 ​ 3.8 ​ Expected volatility 160 % ​ 148 % ​ ​ Urica ​ The fair value of Urica’s contingently issuable placement agent warrants in connection with Urica’s first close of its preferred offering in December 2022 was measured using a Monte Carlo simulation valuation methodology. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring Urica’s warrant liability that are categorized within Level 3 of the fair value hierarchy was as follows: ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 Risk-free interest rate 3.93 % Expected dividend yield — Expected term in years 0.5 Expected volatility 153.6 % ​

Intangible, net

Intangible, net	6 Months Ended
	Jun. 30, 2024
Intangible Assets, net
Intangible Assets, net	7. Intangible Assets, net ​ The Company’s finite-lived intangible assets consist of intangible assets acquired by Journey. The table below provides a summary of the Journey intangible assets for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Useful ​ June 30, ​ December 31, ($ in thousands) Lives (Years) 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets – product licenses ​ 3 to 9 ​ $ 37,925 ​ $ 37,925 Accumulated amortization ​ (16,124) ​ (14,495) Accumulated Impairment loss ​ ​ ​ ​ (3,143) ​ ​ (3,143) Net intangible assets ​ $ 18,658 ​ $ 20,287 ​ For the three months ended June 30, 2024 and 2023, Journey’s amortization expense related to its product licenses was $0.8 million and $1.1 million, respectively. For the six months ended June 30, 2024 and 2023, Journey’s amortization expense related to its product licenses was $1.6 million and $2.1 million, respectively. Journey records amortization expense related to its product licenses as a component of cost of goods sold on the unaudited condensed consolidated statement of operations. ​ The future amortization of these intangible assets is as follows: ​ ​ ​ ​ ​ ​ ​ Total ($ in thousands) Amortization Remainder of 2024 ​ $ 1,628 December 31, 2025 ​ 3,257 December 31, 2026 ​ 2,471 December 31, 2027 ​ ​ 1,775 December 31, 2028 ​ ​ 1,595 Thereafter ​ ​ 3,990 Sub-total ​ $ 14,716 Asset not yet placed in service ​ ​ 3,942 Total ​ $ 18,658 ​

License Agreements

License Agreements	6 Months Ended
	Jun. 30, 2024
License Agreements
License Agreements	8. License Agreements In accordance with ASC 730-10-25-1, Research and Development, costs incurred in obtaining technology licenses are charged to research and development expense if the technology licensed has not reached technological feasibility and has no alternative future use. The licenses purchased by Fortress and its subsidiaries and partner companies require substantial completion of research and development, and regulatory and marketing approval efforts, in order to reach technological feasibility. As such, the purchase price of any licenses acquired is classified as research and development-licenses acquired in the unaudited condensed consolidated statement of operations

Debt and Interest

Debt and Interest	6 Months Ended
	Jun. 30, 2024
Debt and Interest
Debt and Interest	9. Debt and Interest Debt Total debt consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ ($ in thousands) ​ 2024 ​ 2023 ​ Interest rate ​ Maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaktree Note ​ $ 50,000 ​ $ 50,000 11.0 % August - 2025 SWK Term Loan ​ ​ 20,000 ​ ​ 15,000 ​ 14.9 % December - 2027 Less: Discount on notes payable ​ ​ (2,993) ​ ​ (4,144) ​ ​ ​ ​ Total notes payable ​ $ 67,007 ​ $ 60,856 ​ Oaktree Note In August 2020, Fortress, as borrower, entered into a $60.0 million senior secured credit agreement with Oaktree Fund Administration, LLC and the lenders from time-to-time thereto (collectively, “Oaktree”) (the “Prior Oaktree Agreement” and the debt thereunder, the “Oaktree Note”). The Prior Oaktree Agreement contained customary representations and warranties and customary affirmative and negative covenants as well as certain financial covenants, including, among other things, (i) maintenance of minimum liquidity and (ii) a minimum revenue test that required Journey’s annual revenue to be equal to or to exceed annual revenue projections set forth in the Prior Oaktree Agreement. Failure by the Company or Journey, as applicable, to comply with the Prior Oaktree Agreement covenants would result in an event of default, subject to certain cure rights of the Company. The Company was in compliance with all applicable covenants under the Prior Oaktree Agreement as of June 30, 2024. ​ The Company was required to make quarterly interest-only payments until the fifth anniversary of the closing date of the Oaktree Note, August 27, 2025, at which point the outstanding principal amount would have been due. The Company could have voluntarily prepaid the Oaktree Note at any time subject to a prepayment fee. The Company was required to make mandatory prepayments of the Oaktree Note under various circumstances as defined in the Prior Oaktree Agreement. No mandatory prepayments were required in the six months ended June 30, 2024. ​ On July 25, 2024, Fortress entered into a $50.0 million senior secured credit agreement with a maturity date of July 25, 2027 (the “Agreement”) with Oaktree. The Company borrowed $35.0 million under the Agreement on the Closing Date and is eligible to draw up to an additional $15.0 million at the lenders’ discretion to support future business development activities. The Agreement replaces the Prior Oaktree Agreement in which the remaining $50.0 million balance was repaid in full (see Note 19). ​ ​ SWK Term Loan ​ On December 27, 2023 (the “SWK Closing Date”), Journey entered into a Credit Agreement with SWK Funding LLC (“SWK”). three-month plus On July 9, 2024, Journey entered into an amendment (the “SWK Amendment”) to the Credit Facility. The SWK Amendment increased the total amount available under the Credit Facility from $20.0 million to $25.0 million. The $5.0 million available under the SWK Amendment is contractually required to be drawn upon FDA approval of Journey’s DFD-29 product candidate, subject to Journey receiving such approval on or before June 30, 2025 (See Note 19). Beginning in February 2026, Journey is required to repay a portion of the outstanding principal of the Term Loans quarterly in an amount equal to 7.5% of the principal amount of funded Term Loans, with any remaining principal balance due on the maturity date. If the total revenue of Journey, measured on a trailing twelve-month basis, is greater than $70.0 million as of December 31, 2025, the principal repayment start date is extended from February 2026 to February 2027, at which point Journey is required to repay a portion of the outstanding principal of the Term Loans quarterly in an amount equal to 15% of the principal amount of funded Term Loans, with any remaining principal balance due on the maturity date. Journey may at any time prepay the outstanding principal balance of the Term Loans in whole or in part. Prepayment of the Term Loans is subject to payment of a prepayment premium equal to (i) 2% of the Term Loans prepaid plus the amount of interest that would have been due through the first anniversary of the SWK Closing Date if the Term Loans are prepaid prior to the first anniversary of the SWK Closing Date, (ii) 1% of the Term Loans prepaid if the Term Loans are prepaid on or after the first anniversary of the SWK Closing Date but prior to the second anniversary of the SWK Closing Date, or (iii) 0% if prepaid thereafter. Upon repayment in full of the Term Loans, Journey will pay an exit fee equal to 5% of the original principal amount of the Term Loans. Additionally, Journey paid an origination fee of $0.2 million on the SWK Closing Date and incurred issuance costs of $0.2 million, both of which have been recorded as a debt discount. Journey is accreting the carrying value of the SWK Term Loan to the original principal balance plus the exit fee over the term of the loan using the effective interest method. The amortization of the discount is accounted for as interest expense in the Consolidated Statement of Operations. The SWK Credit Facility also includes both revenue and liquidity covenants, restrictions as to payment of dividends, and is secured by substantially all assets of Journey. As of June 30, 2024, Journey was in compliance with the financial covenants under the SWK Credit Facility. Urica 8% Cumulative Convertible Class B Preferred Offering In December 2022 and February 2023 Urica closed private offerings of its 8% Cumulative Convertible Class B Preferred Stock (the “Urica Preferred Stock”), at a price of $25.00 per share (“Subscription Price”) pursuant to which it sold a total of 135,494 shares of Urica Preferred Stock for gross proceeds of $3.4 million, before deducting underwriting discounts and commissions and offering expenses of approximately $0.5 million (the “Urica Offering”). A non-cash contingent warrant value of $0.1 million was also recorded in debt discount (see Note 6). Dividends on the Urica Preferred Stock were payable monthly by Fortress in shares of Fortress Common Stock based upon a 7.5% discount to the average closing price over the 10-day period preceding the dividend payment date. Dividends were recorded as interest expense. For the three month periods ended June 30, 2024 and 2023, the Company recorded expense of $0.1 million and $0.1 million associated with the Urica dividends and for the six month periods ended June 30, 2024 and 2023, the Company recorded expense of $0.1 million and $0.1 million associated with the Urica dividends. The shares mandatorily converted into Urica common stock upon either: (i) a qualified financing pursuant to which Urica raises at least $20 million in aggregate gross proceeds; or (ii) a sale of Urica. Additionally, in the event that neither such a qualified financing nor a sale of Urica had occurred prior to June 27, 2024, then each holder of Urica Preferred Stock was eligible to receive, at Fortress’ election, one of: (x) a cash payment equal to the product of the Subscription Price and the number of shares of Urica Preferred Stock held by such holder; (y) a number of shares of Fortress common stock equal to the Fortress Share Exchange Amount; or (z) a combination of the foregoing. On June 27, 2024, as neither a qualified financing nor a sale of Urica occurred, Fortress elected to exchange the outstanding shares of Urica Preferred Stock, which was recorded as a liability, into 2,028,345 shares of Fortress common stock. ​ Interest Expense Interest expense includes contractual interest, and fees include amortization of the debt discount and amortization of fees associated with loan transaction costs, amortized over the life of the loan. The following table shows the components of interest expense for all debt arrangements during the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ 2024 ​ 2023 ($ in thousands) Interest Fees Total Interest Fees Total Oaktree Note ​ ​ 1,390 ​ ​ 522 ​ ​ 1,912 ​ ​ 1,391 ​ ​ 712 ​ ​ 2,103 Partner company convertible preferred shares ​ ​ (403) ​ ​ 45 ​ ​ (358) ​ ​ 391 ​ ​ 239 ​ ​ 630 Partner company installment payments - licenses ​ ​ — ​ ​ — ​ ​ — ​ ​ 85 ​ ​ — ​ ​ 85 Partner company notes payable ​ ​ 499 ​ ​ 64 ​ ​ 563 ​ ​ 3,301 ​ ​ 272 ​ ​ 3,573 Other ​ 5 ​ — ​ 5 ​ 34 ​ ​ — ​ ​ 34 Total Interest Expense and Financing Fee ​ $ 1,491 ​ $ 631 ​ $ 2,122 ​ $ 5,202 ​ $ 1,223 ​ $ 6,425 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2024 ​ 2023 ($ in thousands) Interest Fees Total Interest Fees Total Oaktree Note ​ ​ 2,781 ​ ​ 1,024 ​ ​ 3,805 ​ ​ 2,781 ​ ​ 1,136 ​ ​ 3,917 Partner company convertible preferred shares ​ ​ (290) ​ ​ 90 ​ ​ (200) ​ ​ 651 ​ ​ 299 ​ ​ 950 Partner company installment payments - licenses ​ ​ — ​ ​ — ​ ​ — ​ ​ 176 ​ ​ — ​ ​ 176 Partner company notes payable ​ ​ 985 ​ ​ 126 ​ ​ 1,111 ​ ​ 4,801 ​ ​ 432 ​ ​ 5,233 Other ​ 8 ​ — ​ 8 ​ 113 ​ 332 ​ ​ 445 Total Interest Expense and Financing Fee ​ $ 3,484 ​ $ 1,240 ​ $ 4,724 ​ $ 8,522 ​ $ 2,199 ​ $ 10,721 ​

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2024
Accounts Payable and Accrued Expenses
Accounts Payable and Accrued Expenses	10. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ($ in thousands) 2024 2023 ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 37,957 ​ $ 34,810 Accrued expenses: ​ ​ Professional fees ​ ​ 2,260 ​ ​ 1,681 Salaries, bonus and related benefits ​ 4,903 ​ 8,531 Research and development ​ 8,547 ​ 11,644 Accrued royalties payable ​ 1,656 ​ 2,015 Accrued coupon and rebates ​ 6,596 ​ 9,987 Return reserve ​ ​ 3,214 ​ ​ 4,077 Other 1 ​ 3,788 ​ 817 Total accounts payable and accrued expenses ​ $ 68,921 ​ $ 73,562 ​ Note 1: Includes approximately $1.4 million of accrued consideration related to Mustang’s Asset Purchase Agreement with uBriGene (see Note 3) as of June 30, 2024. ​

Non-Controlling Interests

Non-Controlling Interests	6 Months Ended
	Jun. 30, 2024
Non-Controlling Interests
Non-Controlling Interests	11. Non-Controlling Interests The Company’s ownership interests in its consolidated subsidiaries at June 30, 2024 was similar to December 31, 2023, except for Mustang which decreased from 19% to 7.2%.

Net Loss per Common Share

Net Loss per Common Share	6 Months Ended
	Jun. 30, 2024
Net Loss per Common Share
Net Loss per Common Share	12. Net Loss per Common Share Basic and diluted net loss per share attributed to common stockholders is calculated by dividing the net loss attributed to Fortress, less the Series A Preferred dividends and adjusted for subsidiary deemed dividends, by the weighted-average number of shares of Common Stock outstanding during the period, not including unvested restricted stock, and without consideration for Common Stock equivalents. Diluted net loss per share is the same as the basic loss per share due to net losses in all periods. For the three and six months ended June 30, 2024, the effect on the net loss per share calculation from Series A Preferred dividends was $2.0 million and $4.0 million, respectively, and partner company deemed dividends were $0.4 million and $0.8 million, respectively. For the three and six months ended June 30, 2023, the effect on the net loss per share calculation from Series A Preferred dividends was $2.0 million and $4.0 million, respectively, and partner company deemed dividends were $0.1 million and $0.3 million, respectively. The following shares of potentially dilutive securities, weighted during the six months ended June 30, 2024 and 2023, have been excluded from the computation of diluted weighted average shares outstanding, as the effect of including such securities would be anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2024 2023 Warrants to purchase Common Stock 5,769,787 127,296 Options to purchase Common Stock 18,896 36,423 Unvested Restricted Stock 1,693,684 1,374,116 Unvested Restricted Stock Units 273 73 Total 7,482,640 1,537,908 ​

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity
Stockholders' Equity	​ ​ 13. Stockholders’ Equity Stock-based Compensation As of June 30, 2024, the Company had the following equity compensation plans: the Fortress Biotech, Inc. 2013 Stock Incentive Plan, as amended (the “2013 Plan”), the Fortress Biotech, Inc. 2012 Employee Stock Purchase Plan (the “ESPP”) and the Fortress Biotech, Inc. Long Term Incentive Plan (“LTIP”). In May 2024, the Company’s Board of Directors and stockholders approved an amendment to the 2013 Plan to increase the number of authorized shares issuable by 10.0 million shares, and approved an amendment to the ESPP to increase the number of shares issuable by 1.0 million. ​ The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ($ in thousands) 2024 2023 ​ 2024 2023 Fortress: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee and non-employee awards ​ $ 2,249 ​ $ 2,271 ​ $ 4,442 ​ $ 4,708 Executive awards ​ 273 ​ 410 ​ 497 ​ 817 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Partner Companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Avenue ​ 192 ​ 27 ​ 383 ​ 38 Checkpoint ​ 1,171 ​ 567 ​ 1,881 ​ 1,536 Mustang ​ (619) ​ 45 ​ (542) ​ 280 Journey ​ ​ 1,674 ​ ​ 873 ​ ​ 3,080 ​ ​ 1,519 Other ​ 58 ​ 24 ​ 115 ​ 50 Total stock-based compensation expense ​ $ 4,998 ​ $ 4,217 ​ $ 9,856 ​ $ 8,948 ​ For the three months ended June 30, 2024 and 2023, approximately $0.7 million and $0.5 million, respectively, of stock-based compensation expense was included in research and development expenses in connection with equity grants made to employees and consultants and approximately $4.3 million and $3.7 million, respectively, was included in general and administrative expenses in connection with grants made to employees, members of the board of directors and consultants. For the six months ended June 30, 2024 and 2023, approximately $1.7 million and $1.5 million, respectively, of stock-based compensation expense was included in research and development expenses in connection with equity grants made to employees and consultants and approximately $8.1 million and $7.5 million, respectively, was included in general and administrative expenses in connection with grants made to employees, members of the board of directors and consultants. Stock Options The following table summarizes Fortress stock option activities excluding activity related to Fortress subsidiaries and partner companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ​ ​ ​ ​ ​ ​ ​ Total ​ remaining ​ ​ ​ ​ Weighted average ​ weighted average ​ contractual life ​ Number of shares exercise price intrinsic value (years) Options vested and expected to vest at December 31, 2023 18,896 ​ $ 20.55 ​ $ — 1.76 Granted ​ 540,000 ​ ​ 1.68 ​ ​ 16,200 ​ 6.71 Options vested and expected to vest at June 30, 2024 558,896 ​ $ 2.32 ​ $ 16,200 6.52 Options vested and exercisable at June 30, 2024 ​ 18,896 ​ $ 20.55 ​ $ — 1.26 ​ As of June 30, 2024 and 2023, Fortress had $0.6 million and $0.6 million, respectively, in unrecognized stock-based compensation expense related to options which is expected to be recognized over the remaining weighted-average vesting period of 3.6 years and 5.7 years, respectively. Restricted Stock and Restricted Stock Units The following table summarizes Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress subsidiaries and partner companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ average grant ​ ​ Number of shares ​ price Unvested balance at December 31, 2023 ​ 1,458,700 ​ $ 28.05 Restricted stock granted ​ 443,024 ​ ​ 3.01 Restricted stock vested ​ (17,303) ​ ​ 35.76 Restricted stock units granted ​ 37,500 ​ ​ 1.84 Restricted stock units forfeited ​ (10,582) ​ ​ 11.43 Restricted stock units vested ​ (49,684) ​ ​ 39.61 Unvested balance at June 30, 2024 ​ 1,861,655 ​ $ 21.27 ​ As of June 30, 2024 and 2023, the Company had unrecognized stock-based compensation expense related to restricted stock and restricted stock unit awards of approximately $11.5 million and $16.0 million, respectively, which is expected to be recognized over the remaining weighted-average vesting period of 1.3 years and 2.0 years, respectively. Warrants The following table summarizes Fortress warrant activities, excluding activities related to Fortress subsidiaries and partner companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total weighted ​ Weighted average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ ​ Number of ​ Weighted average ​ intrinsic ​ contractual life ​ shares exercise price value (years) Outstanding as of December 31, 2023 5,787,289 ​ $ 1.88 ​ $ 7,794,450 4.91 Issued ​ 3,506,140 ​ ​ 3.12 ​ ​ 8,113 ​ — Exercised ​ (17,500) ​ ​ 1.70 ​ ​ — ​ — Outstanding as of June 30, 2024 9,275,929 ​ $ 2.35 ​ $ 64,538 4.46 Exercisable as of June 30, 2024 9,275,929 ​ $ 2.35 ​ $ 64,538 4.46 ​ Long-Term Incentive Program (“LTIP”) On July 15, 2015, the Company’s stockholders approved the LTIP for the Company’s Chairman, President and Chief Executive Officer, Dr. Rosenwald, and Executive Vice Chairman, Strategic Development, Mr. Weiss (amended and restated with stockholder approval on June 7, 2017 and May 23, 2024). The LTIP consists of a program to grant equity interests in the Company and in the Company’s subsidiaries, and a performance-based bonus program that is designed to result in performance-based compensation that is deductible without limit under Section 162(m) of the Internal Revenue Code of 1986, as amended. ​ On January 1, 2024 and 2023, the Compensation Committee granted 216,465 shares each to Dr. Rosenwald and Mr. Weiss. These equity grants were made in accordance with the LTIP, and each award represents 1% of total outstanding shares of the Company as of the dates of such grants. The shares’ original vesting terms includes vesting in full if the employee was either in the service of the Company as an employee, Board member or consultant (or any combination of the foregoing) on the tenth anniversary of the LTIP, or the eligible employee has an involuntary Separation from Service (as defined in the LTIP). The only other vesting condition – one based on the achievement of an increase in the Company’s market capitalization – has already been achieved, with respect to each annual award under the LTIP. The shares awarded under the LTIP will also vest in full (and the Company’s repurchase option on each tranche of shares granted thereunder will accordingly lapse) upon the occurrence of a Corporate Transaction (as defined in the LTIP), if the eligible employee is in service to the Company on the date of such Corporate Transaction. The fair value of each grant on the grant date was approximately $0.7 million for the 2024 grant and $0.8 million for the 2023 grant. For the three months ended June 30, 2024 and 2023, the Company recorded stock compensation expense related to LTIP grants of approximately $1.7 million and $1.5 million, respectively, and for the six months ended June 30, 2024 and 2023, the Company recorded stock compensation expense related to LTIP grants of approximately $3.3 million and $2.9 million, respectively, on the unaudited condensed consolidated statement of operations. Capital Raises 2021 Shelf On July 23, 2021, the Company filed a shelf registration statement (File No. 333-258145) on Form S-3, which was declared effective on July 30, 2021 (the “2021 Shelf”). Approximately $86.2 million of securities were available for sale under the 2021 Shelf as of June 30, 2024, subject to General Instruction I.B.6. of Form S-3. On May 17, 2024, the Company filed a shelf registration statement (File No. 333-279516) on Form S-3, which was declared effective on May 30, 2024 (the “2024 Shelf”). All $50.0 million of securities were available for sale under the 2024 Shelf as of June 30, 2024, subject to General Instruction I.B.6. of Form S-3. At the Market Offering During the six months ended June 30, 2024, the Company issued and sold approximately 1.6 million shares at an average price of $1.87 per share for gross proceeds of $2.9 million. During the six months ended June 30, 2023, the Company issued and sold approximately 0.1 million shares at an average price of $11.31 for gross proceeds of $1.2 million. Registered Direct Offering In January 2024, Fortress closed a registered direct offering of an aggregate of 3,303,305 shares of its common stock and warrants to purchase up to 3,303,305 shares of its common stock at a combined purchase price of $3.33 per share of common stock and accompanying warrant priced at-the-market under Nasdaq rules. The warrants have an exercise price of $3.21 per share, were immediately exercisable, and expire five years following the date of issue. Net proceeds to Fortress, after deducting the placement agent’s fees and other offering expenses, were approximately $10.2 million. Checkpoint 2023 Shelf Registration Statement In March 2023, Checkpoint filed a shelf registration statement (File No. 333-270843) on Form S-3 (the “Checkpoint 2023 S-3”), which was declared effective May 5, 2023. Under the Checkpoint 2023 S-3, Checkpoint may sell up to a total of $150 million of its securities. As of June 30, 2024, approximately $77.7 million of the securities remains available for sale through the Checkpoint 2023 S-3, subject to General Instruction I.B.6 of Form S-3. ​ Checkpoint Registered Direct Offering In January 2024, Checkpoint closed on a registered direct offering (the “Checkpoint January 2024 Registered Direct Offering”) with a single institutional investor for the issuance and sale of 1,275,000 shares of its common stock and 6,481,233 pre-funded warrants. Each pre-funded warrant was exercisable for one share of Checkpoint common stock. The Checkpoint common stock and the pre-funded warrants were sold together with common stock warrants (the “Checkpoint January 2024 Common Warrants”) to purchase up to 7,756,233 shares of Checkpoint common stock, at a purchase price of $1.805 per share of common stock and $1.8049 per pre-funded warrant. The pre-funded warrants were funded in full at closing except for a nominal exercise price of $0.0001 and are exercisable commencing on the closing date and will terminate when such pre-funded warrants are exercised in full. The Checkpoint January 2024 Common Warrants are exercisable immediately upon issuance and will expire five years following the issuance date and have an exercise price of $1.68 per share. Checkpoint also issued the placement agent warrants to purchase up to 465,374 shares of common stock with an exercise price of $2.2563 per share. Net proceeds to Checkpoint from the Checkpoint January 2024 Registered Direct Offering were $12.6 million after deducting commissions and other transaction costs. As of July 2024, all of the pre-funded warrants from the Checkpoint January 2024 Registered Direct Offering were fully exercised (see Note 19). Pursuant to the Company’s Founders Agreement with Checkpoint, Checkpoint issued to Fortress 2.5% of the aggregate number of shares of common stock issued in the registered direct offering noted above. Accordingly, Checkpoint issued 193,905 shares of common stock to Fortress for the six months ended June 30, 2024. Avenue 2021 Shelf Registration Statement In December 2021, Avenue filed a shelf registration statement (File No. 333-261520) on Form S-3 (the “Avenue 2021 S-3”), which was declared effective on December 10, 2021. As of June 30, 2024, approximately $24.6 million of the securities were available for sale under the Avenue 2021 S-3, subject to General Instruction I.B.6. of Form S-3. Avenue 2024 Warrant Exercises and Private Placement On January 5, 2024, Avenue entered into (i) an inducement offer letter agreement (the “January 2023 Investor Inducement Letter”) with a certain investor (the “January 2023 Investor”) in connection with certain outstanding warrants to purchase up to an aggregate of 25,871 shares of Common Stock, originally issued to the January 2023 Investor on January 31, 2023 (the “January 2023 Warrants”) and (ii) an inducement offer letter agreement (the “November 2023 Investor Inducement Letter Agreement” and, together with the January 2023 Investor Inducement Letter, the “January 2024 Warrant Inducement”) with certain investors (the “November 2023 Investors” and, together with the January 2023 Investor, the “Holders”) in connection with certain outstanding warrants to purchase up to an aggregate of 194,667 shares of Common Stock, originally issued to the November 2023 Investors on November 2, 2023 (the “November 2023 Warrants” and, together with the January 2023 Warrants, the “Existing Warrants”). The January 2023 Warrants had an exercise price of $116.25 per share, and the November 2023 Warrants had an exercise price of $22.545 per share. ​ Pursuant to the January 2024 Warrant Inducement, (i) the January 2023 Investor agreed to exercise its January 2023 Warrants for cash at a reduced exercise price of $22.545 per share and (ii) the November 2023 Investors agreed to exercise their November 2023 Warrants for cash at the existing exercise price of $22.545, in each case in consideration for Avenue’s agreement to issue in a private placement (x) Series A Warrants to purchase up to 220,538 shares of Avenue Common Stock and (y) Series B Warrants to purchase up to 220,538 shares of Avenue Common Stock. The net proceeds to Avenue from the exercise of the warrants was approximately $4.5 million, after deducting placement agent fees and estimated offering costs, but without giving effect to the exercise of the Series A Warrants and Series B Warrants issued in the January 2024 Warrant Inducement. ​ The fair value of the Series A Warrants and Series B Warrants was allocated between the January 2023 Warrants and the November 2023 Warrants on a weighted basis, with approximately $0.6 million allocated to the January 2023 Warrants and recorded to loss on common stock warrant liabilities in the condensed consolidated statement of operations, and the approximately $4.3 million allocated to the November 2023 Warrants deemed to be a dividend such that it was included in net loss attributable to common stockholders in the calculation of net loss per share in the condensed consolidated statement of operations (see Note 12). ​ ​ Also in April 2024, Avenue entered into definitive agreements for the immediate exercise of certain of its existing outstanding warrants for cash an aggregate of 689,680 warrants for shares of Avenue’s common stock at a reduced exercise price of $6.20 per share (the “May 2024 Warrant Inducement”). The exercised warrants are comprised of warrants to purchase shares of common stock originally issued by Avenue on October 11, 2022, each having an exercise price of $116.25 per share, Series A and Series B warrants to purchase shares of common stock originally issued by Avenue on November 2, 2023, each having an exercise price of $22.545 per share, and warrants to purchase shares of common stock originally issued by Avenue on January 9, 2024, each having an exercise price of $22.545 per share. In consideration for the immediate exercise of the warrants for cash in the May 2024 Warrant Inducement, Avenue issued two new unregistered series of warrants to purchase up to a total of 1,379,360 shares of Avenue common stock for a payment of $0.125 per warrant. The warrants have an exercise price of $6.20 per share, and terms of eighteen months for one series and five years for the other series. Total net proceeds to Avenue were approximately $3.7 million after deducting placement agent fees and other expenses payable by Avenue. In May 2024, Avenue entered into an At-the-Market Offering Agreement (the “Avenue ATM”) under which Avenue may offer and sell, from time to time at its sole discretion, up to $3.9 million of shares of its common stock. The offer and sale of the shares will be made pursuant to a base prospectus forming a part of the 2021 Avenue S-3, and the related prospectus supplement dated May 10, 2024. During the six months ended June 30, 2024, Avenue issued 87,683 shares through the Avenue ATM for net proceeds of $0.3 million. ​ Pursuant to the Company’s Founders Agreement with Avenue, Avenue issued to Fortress 2.5% of the aggregate number of shares of common stock issued in the warrant exercises noted above. Accordingly, Avenue issued 25,567 shares of common stock to Fortress for the six-month period ended June 30, 2024. Mustang 2021 Shelf Registration Statement and At-the-Market Offering (the “Mustang ATM”) On April 23, 2021, Mustang filed a shelf registration statement on Form S-3 (File No. 333-255476) (the “Mustang 2021 S-3”), which was declared effective on May 24, 2021. Under the Mustang 2021 S-3, Mustang was able to sell up to a total of $200.0 million of its securities. In the six months ended June 30, 2024, Mustang sold approximately $4.4 million of securities under the Mustang 2021 S-3 until its expiration on May 24, 2024. On May 31, 2024, Mustang filed a shelf registration statement on Form S-3 (File No. 333-279891) (the “Mustang 2024 S-3”), which was declared effective on June 12, 2024. Under the Mustang 2024 S-3, Mustang may sell up to a total of $40.0 million of its securities. As of June 30, 2024, approximately $37.5 million of the Mustang 2024 S-3 remains available for sales of securities, subject to General Instruction I.B.6. of Form S-3. On May 31, 2024, Mustang entered into an At-the-Market Offering Agreement (the “Mustang ATM”) relating to the sale of shares of common stock pursuant to the Mustang 2024 S-3. During the six months ended June 30, 2024, Mustang issued no shares through the Mustang ATM. ​ Mustang Public Offering In May 2024, Mustang closed on a public offering of 1,160,000 shares of common stock and pre-funded warrants to purchase up to 15,717,638 shares of common stock (or common stock equivalents in lieu thereof), and three series of 16,877,638 warrants each for a total of 50,632,914 warrants with a combined public offering price of $0.237 per share (or per share common stock equivalent in lieu thereof) and accompanying warrants with an exercise price of $0.237 per share. The Series A-1 warrants have a five-year term, the Series A-2 warrants have a twenty-four month term, and the Series A-3 warrants have a nine month term. The warrants contain customary anti-dilution adjustments to the exercise price, including share splits, share dividends, rights offerings and pro rata distributions. The net proceeds of the public offering, after deducting the fees and expenses of the placement agent and other offering expenses payable by Mustang was approximately $3.3 million. All of the 15,717,638 pre-funded warrants were exercised as of June 30, 2024. Mustang also amended certain existing warrants to purchase up to 2,588,236 shares of common stock previously issued in October 2023 with an exercise price of $1.58 per share such that the amended warrants have a reduced exercise price of $0.237 per share, and have a five-year term from date of shareholder approval. Mustang Registered Direct Offering In June 2024, Mustang closed on a registered direct offering of 3,025,000 shares of common stock at $0.41 per share (or common stock equivalent) priced at-the-market under Nasdaq rules and pre-funded warrants to purchase up to 3,105,000 shares of common stock, at a price per pre-funded warrant equal to $0.4099, the price per share of common stock, less $0.001. The pre-funded warrants have an exercise price of $0.001 per share, became exercisable upon issuance and remain exercisable until exercised in full. In a concurrent private placement, Mustang also agreed to issue and sell unregistered warrants to purchase up to 6,130,000 shares of its common stock, with an exercise price of $0.41 per share, exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the warrants and will expire five years from the date of stockholder approval. Net proceeds were approximately $2.2 million, after placement agent’s fees and other offering expenses of approximately $0.3 million. All of the 3,105,000 pre-funded warrants were exercised as of June 30, 2024. Pursuant to the Company’s Founders Agreement with Mustang, Mustang issued to Fortress 2.5% of the aggregate number of shares of common stock issued in the financings noted above. Accordingly, Mustang issued 575,191 shares of common stock to Fortress for the six-month period ended June 30, 2024. Journey 2022 Shelf Registration Statement and At-the-Market Offering On December 30, 2022, Journey filed a shelf registration statement on Form S-3 (File No. 333-269079) (the “Journey 2022 S-3”), which was declared effective on January 26, 2023. The Journey 2022 S-3 covers the offering, issuance and sale by Journey of up to an aggregate of $150.0 million of Journey’s common stock, preferred stock, debt securities, warrants, and units. In connection with the Journey 2022 S-3, Journey entered into a sales agreement relating to the sale of shares of Journey’s common stock in an at-the-market offering (the “Journey ATM Sales Agreement”). In accordance with the terms of the Journey ATM Sales Agreement, Journey may offer and sell up to 4,900,000 shares of its common stock, par value $0.0001 per share, from time to time. For the six months ended June 30, 2024, Journey issued and sold approximately 0.3 million shares of common stock at an average price of $5.28 per share for gross proceeds of $1.5 million under the Journey ATM Sales Agreement. At June 30, 2024, 3,861,553 shares remain available for issuance under the Journey ATM Sales Agreement .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	​ 14. Commitments and Contingencies Leases At June 30, 2024, Mustang identified triggering events that required an impairment of the asset group consisting of its’ right-of-use asset and associated leasehold improvements. The assessment concluded that impairment existed as of June 30, 2024, and the impairment loss was allocated to the leasehold improvements and right-of-use assets based on the relative carrying amounts of the assets (see Note 3). During three and six months ended June 30, 2024 and 2023, the Company recorded the following as lease costs for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ Operating lease cost ​ $ 595 ​ $ 950 ​ $ 1,235 ​ $ 1,969 ​ Shared lease costs ​ (519) ​ ​ (519) ​ (1,042) ​ ​ (1,034) ​ Variable lease cost ​ 174 ​ ​ 199 ​ 390 ​ ​ 400 ​ Total lease expense ​ $ 250 ​ $ 630 ​ $ 583 ​ $ 1,335 ​ ​ The following tables summarize quantitative information about the Company’s operating leases, under the adoption of ASC Topic 842 , Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ($ in thousands) ​ 2024 ​ 2023 ​ Operating cash flows from operating leases ​ $ (1,850) ​ $ (1,762) ​ ​ Right-of-use assets exchanged for new operating lease liabilities ​ $ — ​ $ — ​ ​ Weighted-average remaining lease term – operating leases (years) ​ 4.0 ​ 4.4 ​ ​ Weighted-average discount rate – operating leases ​ 6.0 % 6.5 % ​ ​ ​ ​ ​ ​ ​ Future Lease ($ in thousands) ​ Liability Nine Months Ended December 31, 2024 ​ $ 1,819 Year Ended December 31, 2025 ​ 3,542 Year Ended December 31, 2026 ​ 3,272 Year Ended December 31, 2027 ​ ​ 2,923 Year Ended December 31, 2028 ​ ​ 2,967 Other ​ 8,125 Total operating lease liabilities ​ 22,648 Less: present value discount ​ (4,233) Net operating lease liabilities, short-term and long-term ​ $ 18,415 ​ Indemnification In accordance with its certificate of incorporation, bylaws and indemnification agreements, the Company has indemnification obligations to its officers and directors for certain events or occurrences, subject to certain limits, while they are serving at the Company’s request in such capacity. There have been no claims to date, and the Company has director and officer insurance to address such claims. The Company and its subsidiaries and partner companies also provide indemnification of contractual counterparties (sometimes without monetary caps) to clinical sites, service providers and licensors. ​ Legal Proceedings ​ In the ordinary course of business, the Company and its subsidiaries and partner companies may be subject to both insured and uninsured litigation. Suits and claims may be brought against the Company by customers, suppliers, partners and/or third parties (including tort claims for personal injury arising from clinical trials of the Company’s product candidates and property damage) alleging deficiencies in performance, breach of contract, etc., and seeing resulting alleged damages. ​ University of Tennessee Research Foundation v. Caelum Biosciences, Inc. Caelum Biosciences, Inc. (“Caelum”), a former subsidiary of Fortress that was sold to AstraZeneca’s Alexion (“Alexion”) in October 2021, is the defendant in a lawsuit brought by The University of Tennessee Research Foundation (“UTRF”) captioned as University of Tennessee Research Foundation v. Caelum Biosciences, Inc. inter alia

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions
Related Party Transactions	15. Related Party Transactions Founders Agreement The Company has entered into Founders Agreements and, in some cases, exchange agreements with certain of its subsidiaries as described in the 2023 Form 10-K. The following table summarizes, by partner company/subsidiary, the effective date of the Founders Agreements and Payment-in-Kind (“PIK”) dividend or equity fee payable to the Company in accordance with the terms of the Founders Agreements, exchange agreements, and the subsidiaries' certificates of incorporation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PIK Dividend as ​ ​ ​ ​ ​ ​ a % of fully ​ ​ ​ ​ ​ ​ diluted ​ ​ ​ ​ ​ ​ outstanding ​ Class of Stock Partner Company/Subsidiary Effective Date 1 capitalization Issued Avenue ​ February 17, 2015 2.5 % Common Stock Baergic ​ December 17, 2019 4 ​ - % 2 Common Stock Cellvation ​ October 31, 2016 2.5 % Common Stock Checkpoint ​ March 17, 2015 - % 3 Common Stock Cyprium ​ March 13, 2017 2.5 % Common Stock Helocyte ​ March 20, 2015 2.5 % Common Stock Mustang ​ March 13, 2015 2.5 % Common Stock Oncogenuity ​ April 22, 2020 4 ​ 2.5 % Common Stock Urica ​ November 7, 2017 4 2.5 % Common Stock ​ Note 1: Represents the effective date of each subsidiary’s Founders Agreement. Each PIK dividend and equity fee is payable on the annual anniversary of the effective date of the original Founders Agreement or has since been amended to January 1 of each calendar year. Note 2: Due to the November 2022 consummation of the Contribution Agreement between the Company and Avenue, Avenue is now eligible to receive the PIK dividend and equity fee payable by Baergic. Note 3: Instead of a PIK dividend, Checkpoint pays the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. Note 4: Represents the Trigger Date, the date that the Fortress partner company/subsidiary first acquires, whether by license or otherwise, ownership rights in a product. Management Services Agreements The Company has entered into Management Services Agreements (the “MSAs”) with certain of its partner companies/subsidiaries as described in the 2023 Form 10-K. The following table summarizes the effective date of each MSA and the annual consulting fee payable by the partner company/subsidiary to the Company in quarterly installments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual MSA Fee ​ Partner Company/Subsidiary Effective Date (Income)/Expense ​ Avenue ​ February 17, 2015 ​ 500 ​ Baergic 1 ​ March 9, 2017 ​ — ​ Cellvation ​ October 31, 2016 ​ 500 ​ Checkpoint ​ March 17, 2015 ​ 500 ​ Cyprium ​ March 13, 2017 ​ 500 ​ Helocyte ​ March 20, 2015 ​ ​ 500 ​ Mustang ​ March 13, 2015 ​ 500 ​ Oncogenuity ​ February 10, 2017 ​ ​ 500 ​ Urica ​ November 7, 2017 ​ ​ 500 ​ Fortress ​ ​ ​ (4,000) ​ Consolidated (Income)/Expense ​ ​ ​ $ — ​ ​ Note 1: Pursuant to the Share Contribution Agreement between Fortress and Avenue, under which Baergic became a majority-controlled and owned subsidiary of Avenue, Fortress also assigned to Avenue the Founders Agreement previously between Fortress and Baergic, such that Baergic’s annual MSA is now payable to Avenue . ​ Fees and Stock Grants Received by Fortress Fees recorded in connection with Fortress’ agreements with its subsidiaries and partner companies are eliminated in consolidation. These include management services fees, issuance of common shares of partner companies in connection with third party raises and annual stock dividend or issuances on the anniversary date of respective Founders Agreements. ​ Shared Services Agreement with TG Therapeutics, Inc. (“TGTX”) In July 2015, TGTX and the Company entered into an arrangement to share the cost of certain research and development employees. The Company’s Executive Vice Chairman, Strategic Development, is also Executive Chairman and Chief Executive Officer of TGTX. Under the terms of the Agreement, TGTX reimburses the Company for the salary and benefit costs associated with these employees based upon actual hours worked on TGTX related projects. In connection with the shared services agreement, for the three months ended June 30, 2024 and 2023 the Company invoiced TGTX $0.1 million and $0.1 million, respectively; for the six months ended June 30, 2024 and 2023 invoiced TGTX $0.7 million and $0.2 million, respectively. At June 30, 2024, approximately $0.1 million is due from TGTX related to this arrangement. Shared Services Agreement with Journey On November 12, 2021, Journey and the Company entered into an arrangement to share the cost of certain legal, finance, regulatory, and research and development employees. The Company’s Executive Chairman and Chief Executive Officer is also the Executive Chairman of Journey. Under the terms of the arrangement, Journey began reimbursing the Company for the salary and benefit costs associated with these employees based upon actual hours worked on Journey related projects following the completion of their initial public offering in November 2021. In addition, Journey reimburses the Company for various payroll-related costs and selling, general and administrative costs incurred by Fortress for the benefit of Journey. For the three months ended June 30, 2024 and 2023, the Company’s employees have provided services to Journey totaling approximately $8,000 and $21,000, respectively. For the six months ended June 30, 2024 and 2023, the Company’s employees have provided services to Journey totaling approximately $18,000 and $36,000, respectively. At June 30, 2024, the total related party receivable was $0.3 million, and primarily relates to reimbursable expenses incurred by Fortress on behalf of Journey. Desk Share Agreement with TGTX The Desk Share Agreement with TGTX, as amended, requires TGTX to pay its share of the average annual rent for office space in New York, NY, based on the actual percentage of the office space occupied by TGTX on a month-by-month basis. For the three months ended June 30, 2024 and 2023, the Company had paid $0.7 million and $0.8 million in rent, respectively, and in connection with the Company’s Desk Share Agreement with TGTX, has invoiced TGTX approximately $0.5 million and $0.5 million, respectively, for its prorated share of the rent base. For the six months ended June 30, 2024 and 2023, the Company had paid $1.4 million and $1.4 million in rent, respectively, and in connection with the Company’s Desk Share Agreement with TGTX, has invoiced TGTX approximately $1.0 million and $1.0 million, respectively, for its prorated share of the rent base. At June 30, 2024, there was no balance due from TGTX related to this arrangement. Cyprium 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock Dividend Obligation Pursuant to a private placement in August 2020, Cyprium sold shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (“Cyprium PPS”); as of June 30, 2024, there are 300,600 shares of Cyprium PPS outstanding. Pursuant to the terms of the Cyprium PPS, shareholders on the record date are entitled to receive a monthly cash dividend of $0.19531 per share which yields an annual dividend of $2.34375 per share. The Cyprium PPS will automatically be redeemed upon the first (and only the first) bona fide, arm’s-length sale of a Priority Review Voucher (a “PRV Sale”) issued by the FDA in connection with the approval of CUTX-101, Cyprium’s copper histidinate product candidate. Upon the PRV Sale, each share of Cyprium PPS will be automatically redeemed in exchange for a payment equal to twice (2x) An optional exchange to Fortress Series A Preferred Stock is available after 24 months from the issuance date so long as a sale of the PRV has not occurred. Additionally, if a PRV Sale has not occurred by September 30, 2024 the Cyprium PPS will either be automatically exchanged for Fortress Series A Preferred Stock or cash at the discretion of Fortress. The Cyprium PPS is fully and unconditionally guaranteed by Fortress.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Information
Segment Information	16. Segment Information The Company operates in two reportable segments, Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development. The accounting policies of the Company are consistently applied to all segments. The following tables summarize, for the periods indicated, operating results from continued operations by reportable segment ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Three Months Ended June 30, 2024 Sales Development Consolidated Net revenue ​ $ 14,855 ​ $ 41 ​ $ 14,896 Cost of goods - product revenue ​ (6,541) ​ — ​ (6,541) Research and development ​ (913) ​ (11,758) ​ (12,671) Selling, general and administrative ​ ​ (10,328) ​ ​ (10,495) ​ ​ (20,823) Asset impairment ​ ​ — ​ ​ (2,649) ​ ​ (2,649) Other expense ​ ​ (434) ​ (602) ​ ​ (1,036) Segment loss ​ $ (3,361) ​ ​ (25,463) ​ $ (28,824) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Six Months Ended June 30, 2024 Sales Development Consolidated Net revenue ​ $ 27,885 ​ $ 41 ​ $ 27,926 Cost of goods - product revenue ​ (13,357) ​ (0) ​ (13,357) Research and development ​ (8,797) ​ (28,698) ​ (37,495) Selling, general and administrative ​ ​ (18,748) ​ ​ (20,029) ​ ​ (38,777) Asset impairment ​ ​ — ​ ​ (2,649) ​ ​ (2,649) Other expense ​ (786) ​ (2,708) ​ (3,494) Segment loss ​ $ (13,803) ​ $ (54,043) ​ $ (67,846) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Three Months Ended June 30, 2023 Sales Development Consolidated Net revenue ​ $ 17,172 ​ $ 214 ​ $ 17,386 Cost of goods - product revenue ​ (7,767) ​ — ​ (7,767) Research and development ​ (1,774) ​ (30,368) ​ ​ (32,142) Selling, general and administrative ​ (12,141) ​ (12,298) ​ ​ (24,439) Asset impairment ​ ​ (3,143) ​ ​ — ​ ​ (3,143) Other expense ​ ​ (710) ​ (8,486) ​ ​ (9,196) Segment loss ​ $ (8,363) ​ $ (50,938) ​ $ (59,301) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Six Months Ended June 30, 2023 Sales Development Consolidated Net revenue ​ $ 29,385 ​ $ 430 ​ $ 29,815 Cost of goods - product revenue ​ (14,216) ​ — ​ (14,216) Research and development ​ (3,807) ​ (67,841) ​ (71,648) Selling, general and administrative ​ (25,433) ​ ​ (24,347) ​ ​ (49,780) Asset impairment ​ ​ (3,143) ​ ​ — ​ ​ (3,143) Other expense ​ ​ (1,285) ​ (4,189) ​ (5,474) Segment loss ​ $ (18,499) ​ $ (95,947) ​ $ (114,446) ​ The following tables summarize, for the periods indicated, total assets by reportable segment ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ June 30, 2024 Sales Development Total Assets Intangible assets, net ​ $ 18,658 ​ $ — ​ $ 18,658 Tangible assets ​ ​ 46,531 ​ ​ 80,496 ​ ​ 127,027 Total segment assets ​ $ 65,189 ​ $ 80,496 ​ $ 145,685 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ December 31, 2023 Sales Development Total Assets Intangible assets, net ​ $ 20,287 ​ $ — ​ $ 20,287 Tangible assets ​ ​ 56,562 ​ ​ 90,677 ​ ​ 147,239 Total segment assets ​ $ 76,849 ​ $ 90,677 ​ $ 167,526 ​

Revenues from Contracts and Sig

Revenues from Contracts and Significant Customers	6 Months Ended
	Jun. 30, 2024
Revenues from Contracts and Significant Customers
Revenues from Contracts and Significant Customers	17. Revenues from Contracts and Significant Customers Disaggregation of Total Revenue Journey has the following actively marketed products, Qbrexza, Accutane, Amzeeq, Zilxi, Exelderm, Luxamend, Targadox, and Ximino (until September 2023). All of Journey’s product revenues are recorded in the U.S. ​ The table below summarizes the Company’s revenue for the periods presented ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six Months Ended June 30, ​ 2024 2023 2024 2023 Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Qbrexza ​ $ 6,836 ​ $ 8,079 ​ $ 11,853 ​ $ 12,173 Accutane ​ ​ 5,719 ​ ​ 5,579 ​ ​ 11,538 ​ ​ 10,227 Amzeeq ​ ​ 1,205 ​ ​ 1,374 ​ ​ 1,960 ​ ​ 2,568 Zilxi ​ ​ 369 ​ ​ 572 ​ ​ 642 ​ ​ 886 Other / legacy product revenue ​ ​ 726 ​ ​ 1,357 ​ ​ 1,892 ​ ​ 3,272 Collaboration revenue ​ ​ — ​ ​ 183 ​ ​ — ​ ​ 364 Revenue – related party ​ 41 ​ 31 ​ 41 ​ 66 Other revenue ​ ​ — ​ ​ 211 ​ ​ — ​ 259 Total net revenue ​ $ 14,896 ​ $ 17,386 ​ $ 27,926 ​ $ 29,815 ​ Significant Customers For the three and six-month periods ending June 30, 2024 and 2023, none of Journey’s dermatology products customers accounted for more than 10% of its total gross product revenue. At June 30, 2024, two of Journey’s dermatology products customers accounted for more than 10% of its total accounts receivable balance at 18% and 10.8%. At December 31, 2023, one of the Company’s dermatology products customers accounted for more than 10% of its total accounts receivable balance at 13%.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Taxes
Income Taxes	18. Income taxes The Company and its subsidiaries are subject to US federal and state income taxes. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. The Company files a consolidated income tax return with subsidiaries for which the Company has an 80% or greater ownership interest. Subsidiaries for which the Company does not have an 80% or more ownership are not included in the Company’s consolidated income tax group and file their own separate income tax return. As a result, certain corporate entities included in these financial statements are not able to combine or offset their taxable income or losses with other entities’ tax attributes. ​ Income tax expense for the three and six months ended June 30, 2024 and 2023 is based on the estimated annual effective tax rate, and includes interest related to unrecognized tax benefits. The Company expects a net deferred tax asset with a full valuation allowance and 0% estimated annual effective tax rate for 2024. No income tax expense was recognized for the three and six months ended June 30, 2024 or 2023.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	19. Subsequent Events Fortress On July 25, 2024, Fortress entered into the $50.0 million senior secured credit agreement with a maturity date of July 25, 2027 with Oaktree (the “New Oaktree Agreement”). The Company borrowed $35.0 million under the New Oaktree Agreement on the Closing Date and is eligible to draw up to an additional $15.0 million at the lenders’ discretion to support future business development activities. The New Oaktree Agreement replaces the Prior Oaktree Agreement in which the remaining $50.0 million balance was repaid in full. Under the terms of the New Oaktree Agreement, the loans have a 30-month interest-only period with a maturity date of July 25, 2027, and bear interest at an annual rate equal to the 3-month Secured Overnight Financing Rate ( SOFR The Company may voluntarily prepay, in whole or in part, the amounts due under the New Oaktree Agreement at any time subject to a prepayment fee. Subject to prior written notice by the Company, to repay any amounts due prior to the maturity date, the Company must pay the sum of (A) the aggregate principal amount of the Loans being prepaid, (B) any accrued but unpaid interest on the principal amount of the Loans being prepaid, (C) any applicable Yield Protection Premium (as defined in the New Oaktree Agreement) and (D) if applicable, other unpaid amounts then due and owing pursuant to the New Oaktree Agreement and the other loan documents (such aggregate amount, the “Prepayment Price”); provided that each partial prepayment of the principal amount of the Loans shall be in an aggregate amount of at least $5.0 million and integral multiples of $1.0 million in excess thereof. The Company is required to make mandatory prepayments of the Loans with net cash proceeds from (i) certain casualty events, (ii) certain monetization events, including, among other things, certain asset sales and the sale(s) of priority review vouchers by certain subsidiaries of the Company, and the receipt by the Company of any dividend or other distributions in cash from any of its subsidiaries in excess of $5.0 million other than in connection with certain monetization events, (iii) debt issuances that are not permitted, and (iv) failure to comply with certain covenants. The lenders may elect to receive warrants to purchase common stock of the Company as an alternative to cash prepayments in some situations where a mandatory prepayment would otherwise be required. ​ The New Oaktree Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among other things, restrictions on indebtedness, liens, investments, mergers, dispositions, prepayment of other indebtedness, and dividends and other distributions, subject to certain exceptions. In addition, the New Oaktree Agreement contains certain financial covenants, including, (i) a requirement that the Company maintain a minimum liquidity of $7.0 million, which may be reduced or increased as described in the New Oaktree Agreement (“the “Liquidity Requirement”), and (ii) that product net sales of Journey meet a consolidated minimum net sales amount of $50.0 million on a trailing 12-month basis, tested quarterly, which may be reduced or increased as described in the New Oaktree Agreement (the “Minimum Net Sales Test”), subject to certain exclusions. Both the Minimum Net Sales Test and the Liquidity Requirement will be reduced to $0 while the outstanding ​ ​ The New Oaktree Agreement contains events of default that are customary for financings of this type, in certain circumstances subject to customary cure periods. In addition, the Company is also required to (i) raise common equity, or receive in monetizations or distributions, by the end of each calendar year prior to the maturity date, in an aggregate amount equal to the greater of $20 million or 50% of an amount set forth in an annual budget delivered to the lenders and (ii) maintain a specified minimum equity stake in Journey. The capital raise and minimum stake covenants and financial covenants will not apply if the outstanding principal balance of the loan is less than or equal to $10 million. Following an event of default and any cure period, if applicable, the Agent will have the right upon notice to accelerate all amounts outstanding under the New Oaktree Agreement, in addition to other remedies available to the lenders as secured creditors of the Company. In connection with the New Oaktree Agreement, the Company granted a security interest in favor of the Agent, for the benefit of the lenders, in substantially all of the Company’s assets, subject to customary exceptions, as collateral securing the Company’s obligations under the New Oaktree Agreement. In connection with the New Oaktree Agreement, the Company granted warrants to the lenders to purchase up to 506,390 shares of the Company’s common stock at a purchase price of $2.0735 per share (the “Warrants”). The Warrants contain customary anti-dilution adjustments to the exercise price, including for share splits, share dividends, rights offerings and pro rata distributions. The exercise price of the Warrants will also be adjusted if, while the Warrants are outstanding, the Company engages in any transaction involving the issuance or sale of shares of Common Stock or equivalent securities at an effective price per share less than the exercise price of the Warrant then in effect (such lower price, the “Base Share Price”). In such case, the exercise price of the Warrants will be reduced to equal the Base Share Price. The Warrants are immediately exercisable and will expire on July 25, 2031 and may be net exercised for no cash payment at the holder’s election. The Company also agreed to file a registration statement to register the resale of the shares of Company common stock issuable upon exercise of the Warrants. ​ Fortress Dividends ​ On July 5, 2024, Fortress announced that the Company’s Board of Directors had decided to pause the monthly dividend of $0.1953125 per share of the Company’s 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Stock”). In accordance with the terms of the Series A Preferred Stock, dividends on the Series A Preferred Stock will continue to accrue and cumulate until such dividends are authorized or declared. The pausing of these dividends will defer approximately $0.7 million in cash dividend payments each month. The Board intends to revisit its decision regarding the monthly dividend regularly and will assess the profitability and cash flow of the Company to determine whether and when the pause should be lifted. ​ Journey On July 9, 2024, Journey entered into the SWK Amendment. The SWK Amendment increased the total amount of the Credit Facility from $20.0 million to $25.0 million. The $5.0 million of additional availability added in the Amendment will be drawn upon FDA approval of DFD-29, subject to Journey receiving approval on or before June 30, 2025. Urica On July 15, 2024, Urica entered into an asset purchase agreement (the “APA”), royalty agreement (the “Royalty Agreement”), and related agreements (collectively, the “Transaction Documents”) with Crystalys Therapeutics, Inc. (“Crystalys”). Crystalys is a Delaware corporation incorporated in 2022 and seeded by leading life sciences institutional investors. Under the Transaction Documents, Urica sold the rights to its URAT1 inhibitor product candidate in development for the treatment of gout, dotinurad, and related intellectual property, licenses and agreements to Crystalys. In return, Crystalys issued to Urica shares of its common stock equal to 35% of Crystalys’ outstanding equity. Urica’s equity position cannot be reduced below 15% of Crystalys’ fully-diluted equity capitalization until it raises $150 million in equity securities. ​ The Transaction Documents also grant Urica a securitized three percent (3%) royalty on future net sales of dotinurad to be paid by Crystalys, as well as the right to receive nominal cash reimbursement payments for certain clinical and development costs incurred by Urica related to dotinurad. Urica has the right to appoint one director to the board of directors of Crystalys, as well as an additional board observer. Urica has committed to providing transition support to Crystalys for 90 days, and Crystalys is obliged to use commercially reasonable efforts to develop and commercialize dotinurad. ​ Checkpoint ​ In July 2024, Checkpoint closed on a registered direct offering (the “Checkpoint July 2024 Registered Direct Offering”) for the issuance and sale of an aggregate of 1,230,000 shares of its common stock at a purchase price of $2.05 per share of common stock. In addition, the offering includes 4,623,659 shares of common stock in the form of pre-funded warrants at a price of $2.0499. In a concurrent private placement, Checkpoint issued and sold common warrants (the “Checkpoint July 2024 Common Stock Warrants”) to purchase up to 5,853,659 shares of common stock. The Checkpoint July 2024 Common Stock Warrants will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Checkpoint July 2024 Common Stock Warrants with an exercise price of $2.05 per share and will expire five years following the issuance date. The total gross proceeds from the July 2024 Registered Direct Offering were approximately $12.0 million. ​ ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (10,948)	$ (24,776)	$ (26,365)	$ (46,313)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the unaudited condensed consolidated financial statements have read or have access to the audited financial statements for the preceding fiscal year for each of Avenue, Checkpoint, Mustang and Journey. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, which was filed with the United States Securities and Exchange Commission (“SEC”) on March 28, 2024 (the “2023 Form 10-K”), from which the Company derived the balance sheet data at December 31, 2023, as well as Checkpoint’s Form 10-K, filed with the SEC on March 22, 2024, Mustang’s Form 10-K, filed with the SEC on March 11, 2024, Avenue’s Form 10-K, filed with the SEC on March 18, 2024, and Journey’s Form 10-K, filed with the SEC on March 29, 2024. The Company’s unaudited condensed consolidated financial statements include the results of the Company’s subsidiaries for which it has voting control but does not own 100% of the outstanding equity of the subsidiaries. For consolidated entities where the Company owns less than 100% of the subsidiary, but retains voting control, the Company records net loss attributable to non-controlling interests in its consolidated statements of operations and presents non-controlling interests as a component of stockholders’ equity on its consolidated balance sheets. All intercompany income and/or expense items are eliminated entirely in consolidation prior to the allocation of net gain/loss attributable to non-controlling interest, which is based on ownership interests as calculated quarterly for each subsidiary.
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. The Company’s significant estimates include, but are not limited to provisions for coupons, chargebacks, wholesaler fees, specialty pharmacy discounts, managed care rebates, product returns, inventory realization, valuation of intangible assets, useful lives assigned to long-lived assets and amortizable intangible assets, fair value of stock options and warrants, stock-based compensation, common stock issued to acquire licenses, accrued expenses and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from these estimates.
Restricted Cash	Restricted Cash The Company records cash held in trust or pledged to secure certain debt obligations as restricted cash. As of June 30, 2024 and December 31, 2023, the Company had $2.1 million and $2.4 million, respectively, of restricted cash representing pledges to secure debt obligations and letters of credit in connection with certain office leases, and an undertaking posted by Cyprium to secure potential damages in an injunctive proceeding. The following table provides a reconciliation of cash, cash equivalents, and restricted cash from the unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows as of the dates presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2024 ​ 2023 Cash and cash equivalents $ 76,201 $ 78,022 Restricted cash ​ 2,063 ​ 11,188 Total cash and cash equivalents and restricted cash ​ $ 78,264 ​ $ 89,210
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the 2023 Form 10-K other than the following:
Assets Held for Sale	Assets Held for Sale Assets held for sale represent assets that have met the criteria of “held for sale” accounting, as specified by Accounting Standards Codification (“ASC”) 360, “Long-lived Assets.” As of June 30, 2024, there are $2.2 million of lab and cell processing equipment, furniture and fixtures and computer equipment that are recorded as assets held for sale. The effect of suspending depreciation on the assets held for sale is immaterial to the results of operations. The assets held for sale are part of Mustang’s repurchase of assets from uBriGene (Boston) Biosciences, Inc. (“uBriGene”) (see Note 3).
Recently Issued Accounting Pronouncements	​ Recently Issued Accounting Pronouncements Accounting Standards Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ​ In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies
Schedule of Cash and Cash Equivalents and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2024 ​ 2023 Cash and cash equivalents $ 76,201 $ 78,022 Restricted cash ​ 2,063 ​ 11,188 Total cash and cash equivalents and restricted cash ​ $ 78,264 ​ $ 89,210

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory
Schedule of Inventory	​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ($ in thousands) 2024 ​ 2023 Raw materials $ 3,583 ​ $ 4,640 Work-in-process 296 ​ 884 Finished goods 6,213 ​ 4,987 Inventory reserve ​ (405) ​ ​ (305) Total inventories $ 9,687 ​ $ 10,206 ​

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment
Schedule of Property, Plant and Equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Useful Life June 30, ​ December 31, ($ in thousands) ​ (Years) ​ 2024 ​ 2023 ​ ​ ​ Computer equipment ​ 3 ​ $ 595 ​ $ 595 Furniture and fixtures ​ 5 ​ 1,017 ​ 1,017 Leasehold improvements ​ 15 ​ 13,175 ​ 13,175 Buildings ​ ​ 40 ​ ​ 581 ​ ​ 581 Construction in progress ​ N/A ​ — ​ 29 Total property and equipment ​ ​ ​ ​ 15,368 ​ 15,397 Impairment - leasehold improvements ​ ​ ​ ​ ​ (2,177) ​ ​ — Less: Accumulated depreciation ​ ​ ​ ​ (9,645) ​ (8,892) Property and equipment, net ​ ​ ​ ​ $ 3,546 ​ $ 6,505

Fair Value Measurements (Tables

Fair Value Measurements (Tables) - Warrants to Purchase Common Stock [Member]	6 Months Ended
	Jun. 30, 2024
Schedule of revaluation of warrant liability	​ ​ ​ ​ ​ ​ ​ Warrants ($ in thousands) liabilities Balance at December 31, 2023 ​ $ 886 Change in fair value of common stock warrants - Avenue ​ ​ (139) Change in fair value of common stock warrants - Checkpoint ​ ​ — Change in fair value of placement agent warrants - Urica ​ ​ (24) Exercise of common stock warrants - Avenue ​ ​ (400) Exchange of common stock warrants - Urica ​ ​ (151) Balance at June 30, 2024 ​ $ 172
Checkpoint Common Stock Warrants
Summary of the Weighted average Significant Unobservable Inputs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ Checkpoint Warrants ​ 2024 ​ 2023 ​ ​ Exercise price ​ $ 5.41 ​ $ 5.41 ​ ​ Volatility ​ ​ 106.9 % ​ 96.4 % ​ Expected life in years ​ ​ 3.5 ​ ​ 4.0 ​ ​ Risk-free rate ​ ​ 4.5 % ​ 3.8 % ​
Avenue Therapeutics, Inc [Member]
Schedule of revaluation of warrant liability	​ ​ ​ ​ ​ ​ ​ Avenue ​ ​ Warrant ($ in thousands) ​ Liability Avenue common stock warrant liabilities at December 31, 2023 ​ $ 586 Exercise of Avenue common warrants ​ ​ (400) Change in fair value of common stock warrant liabilities ​ ​ (139) Avenue common stock warrant liabilities at June 30, 2024 ​ $ 47
Summary of the Weighted average Significant Unobservable Inputs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ December 31 ​ ​ ​ ​ 2024 ​ ​ 2023 ​ ​ Stock price ​ $ 3.50 ​ ​ $ 12.00 ​ ​ Risk-free interest rate 4.52 % ​ 3.84 % ​ Expected dividend yield — ​ — ​ Expected term in years 3.3 ​ 3.8 ​ Expected volatility 160 % ​ 148 % ​
Urica
Summary of the Weighted average Significant Unobservable Inputs	​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 Risk-free interest rate 3.93 % Expected dividend yield — Expected term in years 0.5 Expected volatility 153.6 % ​

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Intangible Assets, net
Schedule of Journey intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Useful ​ June 30, ​ December 31, ($ in thousands) Lives (Years) 2024 2023 ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets – product licenses ​ 3 to 9 ​ $ 37,925 ​ $ 37,925 Accumulated amortization ​ (16,124) ​ (14,495) Accumulated Impairment loss ​ ​ ​ ​ (3,143) ​ ​ (3,143) Net intangible assets ​ $ 18,658 ​ $ 20,287
Schedule of future amortization of intangible assets	​ ​ ​ ​ ​ ​ ​ Total ($ in thousands) Amortization Remainder of 2024 ​ $ 1,628 December 31, 2025 ​ 3,257 December 31, 2026 ​ 2,471 December 31, 2027 ​ ​ 1,775 December 31, 2028 ​ ​ 1,595 Thereafter ​ ​ 3,990 Sub-total ​ $ 14,716 Asset not yet placed in service ​ ​ 3,942 Total ​ $ 18,658 ​

Debt and Interest (Tables)

Debt and Interest (Tables)	6 Months Ended
	Jun. 30, 2024
Debt and Interest
Schedule of Debt	Total debt consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ ($ in thousands) ​ 2024 ​ 2023 ​ Interest rate ​ Maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaktree Note ​ $ 50,000 ​ $ 50,000 11.0 % August - 2025 SWK Term Loan ​ ​ 20,000 ​ ​ 15,000 ​ 14.9 % December - 2027 Less: Discount on notes payable ​ ​ (2,993) ​ ​ (4,144) ​ ​ ​ ​ Total notes payable ​ $ 67,007 ​ $ 60,856
Interest Expense for all Debt Arrangements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ 2024 ​ 2023 ($ in thousands) Interest Fees Total Interest Fees Total Oaktree Note ​ ​ 1,390 ​ ​ 522 ​ ​ 1,912 ​ ​ 1,391 ​ ​ 712 ​ ​ 2,103 Partner company convertible preferred shares ​ ​ (403) ​ ​ 45 ​ ​ (358) ​ ​ 391 ​ ​ 239 ​ ​ 630 Partner company installment payments - licenses ​ ​ — ​ ​ — ​ ​ — ​ ​ 85 ​ ​ — ​ ​ 85 Partner company notes payable ​ ​ 499 ​ ​ 64 ​ ​ 563 ​ ​ 3,301 ​ ​ 272 ​ ​ 3,573 Other ​ 5 ​ — ​ 5 ​ 34 ​ ​ — ​ ​ 34 Total Interest Expense and Financing Fee ​ $ 1,491 ​ $ 631 ​ $ 2,122 ​ $ 5,202 ​ $ 1,223 ​ $ 6,425 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2024 ​ 2023 ($ in thousands) Interest Fees Total Interest Fees Total Oaktree Note ​ ​ 2,781 ​ ​ 1,024 ​ ​ 3,805 ​ ​ 2,781 ​ ​ 1,136 ​ ​ 3,917 Partner company convertible preferred shares ​ ​ (290) ​ ​ 90 ​ ​ (200) ​ ​ 651 ​ ​ 299 ​ ​ 950 Partner company installment payments - licenses ​ ​ — ​ ​ — ​ ​ — ​ ​ 176 ​ ​ — ​ ​ 176 Partner company notes payable ​ ​ 985 ​ ​ 126 ​ ​ 1,111 ​ ​ 4,801 ​ ​ 432 ​ ​ 5,233 Other ​ 8 ​ — ​ 8 ​ 113 ​ 332 ​ ​ 445 Total Interest Expense and Financing Fee ​ $ 3,484 ​ $ 1,240 ​ $ 4,724 ​ $ 8,522 ​ $ 2,199 ​ $ 10,721 ​

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2024
Accounts Payable and Accrued Expenses
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ($ in thousands) 2024 2023 ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 37,957 ​ $ 34,810 Accrued expenses: ​ ​ Professional fees ​ ​ 2,260 ​ ​ 1,681 Salaries, bonus and related benefits ​ 4,903 ​ 8,531 Research and development ​ 8,547 ​ 11,644 Accrued royalties payable ​ 1,656 ​ 2,015 Accrued coupon and rebates ​ 6,596 ​ 9,987 Return reserve ​ ​ 3,214 ​ ​ 4,077 Other 1 ​ 3,788 ​ 817 Total accounts payable and accrued expenses ​ $ 68,921 ​ $ 73,562 ​ Note 1: Includes approximately $1.4 million of accrued consideration related to Mustang’s Asset Purchase Agreement with uBriGene (see Note 3) as of June 30, 2024.

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	6 Months Ended
	Jun. 30, 2024
Net Loss per Common Share
Schedule of Diluted Weighted Average Shares Outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2024 2023 Warrants to purchase Common Stock 5,769,787 127,296 Options to purchase Common Stock 18,896 36,423 Unvested Restricted Stock 1,693,684 1,374,116 Unvested Restricted Stock Units 273 73 Total 7,482,640 1,537,908 ​

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity
Schedule of Stock-Based Compensation Expense	The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ($ in thousands) 2024 2023 ​ 2024 2023 Fortress: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee and non-employee awards ​ $ 2,249 ​ $ 2,271 ​ $ 4,442 ​ $ 4,708 Executive awards ​ 273 ​ 410 ​ 497 ​ 817 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Partner Companies: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Avenue ​ 192 ​ 27 ​ 383 ​ 38 Checkpoint ​ 1,171 ​ 567 ​ 1,881 ​ 1,536 Mustang ​ (619) ​ 45 ​ (542) ​ 280 Journey ​ ​ 1,674 ​ ​ 873 ​ ​ 3,080 ​ ​ 1,519 Other ​ 58 ​ 24 ​ 115 ​ 50 Total stock-based compensation expense ​ $ 4,998 ​ $ 4,217 ​ $ 9,856 ​ $ 8,948
Schedule of Stock Option Activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average ​ ​ ​ ​ ​ ​ ​ Total ​ remaining ​ ​ ​ ​ Weighted average ​ weighted average ​ contractual life ​ Number of shares exercise price intrinsic value (years) Options vested and expected to vest at December 31, 2023 18,896 ​ $ 20.55 ​ $ — 1.76 Granted ​ 540,000 ​ ​ 1.68 ​ ​ 16,200 ​ 6.71 Options vested and expected to vest at June 30, 2024 558,896 ​ $ 2.32 ​ $ 16,200 6.52 Options vested and exercisable at June 30, 2024 ​ 18,896 ​ $ 20.55 ​ $ — 1.26
Schedule of Restricted Stock Awards and Restricted Stock Units	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ average grant ​ ​ Number of shares ​ price Unvested balance at December 31, 2023 ​ 1,458,700 ​ $ 28.05 Restricted stock granted ​ 443,024 ​ ​ 3.01 Restricted stock vested ​ (17,303) ​ ​ 35.76 Restricted stock units granted ​ 37,500 ​ ​ 1.84 Restricted stock units forfeited ​ (10,582) ​ ​ 11.43 Restricted stock units vested ​ (49,684) ​ ​ 39.61 Unvested balance at June 30, 2024 ​ 1,861,655 ​ $ 21.27
Schedule of Warrant activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total weighted ​ Weighted average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ ​ Number of ​ Weighted average ​ intrinsic ​ contractual life ​ shares exercise price value (years) Outstanding as of December 31, 2023 5,787,289 ​ $ 1.88 ​ $ 7,794,450 4.91 Issued ​ 3,506,140 ​ ​ 3.12 ​ ​ 8,113 ​ — Exercised ​ (17,500) ​ ​ 1.70 ​ ​ — ​ — Outstanding as of June 30, 2024 9,275,929 ​ $ 2.35 ​ $ 64,538 4.46 Exercisable as of June 30, 2024 9,275,929 ​ $ 2.35 ​ $ 64,538 4.46

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies
Schedule of lease expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ Operating lease cost ​ $ 595 ​ $ 950 ​ $ 1,235 ​ $ 1,969 ​ Shared lease costs ​ (519) ​ ​ (519) ​ (1,042) ​ ​ (1,034) ​ Variable lease cost ​ 174 ​ ​ 199 ​ 390 ​ ​ 400 ​ Total lease expense ​ $ 250 ​ $ 630 ​ $ 583 ​ $ 1,335 ​
Summary of Quantitative Information about Operating Leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ($ in thousands) ​ 2024 ​ 2023 ​ Operating cash flows from operating leases ​ $ (1,850) ​ $ (1,762) ​ ​ Right-of-use assets exchanged for new operating lease liabilities ​ $ — ​ $ — ​ ​ Weighted-average remaining lease term – operating leases (years) ​ 4.0 ​ 4.4 ​ ​ Weighted-average discount rate – operating leases ​ 6.0 % 6.5 % ​
Schedule of Future Minimum Lease Payments	​ ​ ​ ​ ​ ​ Future Lease ($ in thousands) ​ Liability Nine Months Ended December 31, 2024 ​ $ 1,819 Year Ended December 31, 2025 ​ 3,542 Year Ended December 31, 2026 ​ 3,272 Year Ended December 31, 2027 ​ ​ 2,923 Year Ended December 31, 2028 ​ ​ 2,967 Other ​ 8,125 Total operating lease liabilities ​ 22,648 Less: present value discount ​ (4,233) Net operating lease liabilities, short-term and long-term ​ $ 18,415

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions
Schedule of effective date and PIK dividend or equity fee payable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PIK Dividend as ​ ​ ​ ​ ​ ​ a % of fully ​ ​ ​ ​ ​ ​ diluted ​ ​ ​ ​ ​ ​ outstanding ​ Class of Stock Partner Company/Subsidiary Effective Date 1 capitalization Issued Avenue ​ February 17, 2015 2.5 % Common Stock Baergic ​ December 17, 2019 4 ​ - % 2 Common Stock Cellvation ​ October 31, 2016 2.5 % Common Stock Checkpoint ​ March 17, 2015 - % 3 Common Stock Cyprium ​ March 13, 2017 2.5 % Common Stock Helocyte ​ March 20, 2015 2.5 % Common Stock Mustang ​ March 13, 2015 2.5 % Common Stock Oncogenuity ​ April 22, 2020 4 ​ 2.5 % Common Stock Urica ​ November 7, 2017 4 2.5 % Common Stock ​ Note 1: Represents the effective date of each subsidiary’s Founders Agreement. Each PIK dividend and equity fee is payable on the annual anniversary of the effective date of the original Founders Agreement or has since been amended to January 1 of each calendar year. Note 2: Due to the November 2022 consummation of the Contribution Agreement between the Company and Avenue, Avenue is now eligible to receive the PIK dividend and equity fee payable by Baergic. Note 3: Instead of a PIK dividend, Checkpoint pays the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. Note 4: Represents the Trigger Date, the date that the Fortress partner company/subsidiary first acquires, whether by license or otherwise, ownership rights in a product.
Schedule of PIK dividend or equity fee recorded	The Company has entered into Management Services Agreements (the “MSAs”) with certain of its partner companies/subsidiaries as described in the 2023 Form 10-K. The following table summarizes the effective date of each MSA and the annual consulting fee payable by the partner company/subsidiary to the Company in quarterly installments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual MSA Fee ​ Partner Company/Subsidiary Effective Date (Income)/Expense ​ Avenue ​ February 17, 2015 ​ 500 ​ Baergic 1 ​ March 9, 2017 ​ — ​ Cellvation ​ October 31, 2016 ​ 500 ​ Checkpoint ​ March 17, 2015 ​ 500 ​ Cyprium ​ March 13, 2017 ​ 500 ​ Helocyte ​ March 20, 2015 ​ ​ 500 ​ Mustang ​ March 13, 2015 ​ 500 ​ Oncogenuity ​ February 10, 2017 ​ ​ 500 ​ Urica ​ November 7, 2017 ​ ​ 500 ​ Fortress ​ ​ ​ (4,000) ​ Consolidated (Income)/Expense ​ ​ ​ $ — ​ ​ Note 1: Pursuant to the Share Contribution Agreement between Fortress and Avenue, under which Baergic became a majority-controlled and owned subsidiary of Avenue, Fortress also assigned to Avenue the Founders Agreement previously between Fortress and Baergic, such that Baergic’s annual MSA is now payable to Avenue .

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Information
Schedule of Segment Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Three Months Ended June 30, 2024 Sales Development Consolidated Net revenue ​ $ 14,855 ​ $ 41 ​ $ 14,896 Cost of goods - product revenue ​ (6,541) ​ — ​ (6,541) Research and development ​ (913) ​ (11,758) ​ (12,671) Selling, general and administrative ​ ​ (10,328) ​ ​ (10,495) ​ ​ (20,823) Asset impairment ​ ​ — ​ ​ (2,649) ​ ​ (2,649) Other expense ​ ​ (434) ​ (602) ​ ​ (1,036) Segment loss ​ $ (3,361) ​ ​ (25,463) ​ $ (28,824) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Six Months Ended June 30, 2024 Sales Development Consolidated Net revenue ​ $ 27,885 ​ $ 41 ​ $ 27,926 Cost of goods - product revenue ​ (13,357) ​ (0) ​ (13,357) Research and development ​ (8,797) ​ (28,698) ​ (37,495) Selling, general and administrative ​ ​ (18,748) ​ ​ (20,029) ​ ​ (38,777) Asset impairment ​ ​ — ​ ​ (2,649) ​ ​ (2,649) Other expense ​ (786) ​ (2,708) ​ (3,494) Segment loss ​ $ (13,803) ​ $ (54,043) ​ $ (67,846) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Three Months Ended June 30, 2023 Sales Development Consolidated Net revenue ​ $ 17,172 ​ $ 214 ​ $ 17,386 Cost of goods - product revenue ​ (7,767) ​ — ​ (7,767) Research and development ​ (1,774) ​ (30,368) ​ ​ (32,142) Selling, general and administrative ​ (12,141) ​ (12,298) ​ ​ (24,439) Asset impairment ​ ​ (3,143) ​ ​ — ​ ​ (3,143) Other expense ​ ​ (710) ​ (8,486) ​ ​ (9,196) Segment loss ​ $ (8,363) ​ $ (50,938) ​ $ (59,301) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ Six Months Ended June 30, 2023 Sales Development Consolidated Net revenue ​ $ 29,385 ​ $ 430 ​ $ 29,815 Cost of goods - product revenue ​ (14,216) ​ — ​ (14,216) Research and development ​ (3,807) ​ (67,841) ​ (71,648) Selling, general and administrative ​ (25,433) ​ ​ (24,347) ​ ​ (49,780) Asset impairment ​ ​ (3,143) ​ ​ — ​ ​ (3,143) Other expense ​ ​ (1,285) ​ (4,189) ​ (5,474) Segment loss ​ $ (18,499) ​ $ (95,947) ​ $ (114,446) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ June 30, 2024 Sales Development Total Assets Intangible assets, net ​ $ 18,658 ​ $ — ​ $ 18,658 Tangible assets ​ ​ 46,531 ​ ​ 80,496 ​ ​ 127,027 Total segment assets ​ $ 65,189 ​ $ 80,496 ​ $ 145,685 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pharmaceutical ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ ​ Dermatology ​ Biotechnology ​ ​ ​ ​ ​ Products ​ Product ​ ​ ​ December 31, 2023 Sales Development Total Assets Intangible assets, net ​ $ 20,287 ​ $ — ​ $ 20,287 Tangible assets ​ ​ 56,562 ​ ​ 90,677 ​ ​ 147,239 Total segment assets ​ $ 76,849 ​ $ 90,677 ​ $ 167,526 ​

Revenues from Contracts and S_2

Revenues from Contracts and Significant Customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenues from Contracts and Significant Customers
Schedule of disaggregation of total revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six Months Ended June 30, ​ 2024 2023 2024 2023 Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Qbrexza ​ $ 6,836 ​ $ 8,079 ​ $ 11,853 ​ $ 12,173 Accutane ​ ​ 5,719 ​ ​ 5,579 ​ ​ 11,538 ​ ​ 10,227 Amzeeq ​ ​ 1,205 ​ ​ 1,374 ​ ​ 1,960 ​ ​ 2,568 Zilxi ​ ​ 369 ​ ​ 572 ​ ​ 642 ​ ​ 886 Other / legacy product revenue ​ ​ 726 ​ ​ 1,357 ​ ​ 1,892 ​ ​ 3,272 Collaboration revenue ​ ​ — ​ ​ 183 ​ ​ — ​ ​ 364 Revenue – related party ​ 41 ​ 31 ​ 41 ​ 66 Other revenue ​ ​ — ​ ​ 211 ​ ​ — ​ 259 Total net revenue ​ $ 14,896 ​ $ 17,386 ​ $ 27,926 ​ $ 29,815

Organization and Description _2

Organization and Description of Business (Narrative) (Details) $ in Millions		6 Months Ended
	Dec. 30, 2022 USD ($)	Jun. 30, 2024 USD ($) subsidiary company
Organization and Description of Business
Number of partner companies that are publicly traded | company		4
Number of partner companies that have consummated strategic partnerships with industry leaders | subsidiary		3
Sale of stock, net proceeds	$ 150
Cash and cash equivalents, Parent Company		$ 38.2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounting Policies [Line Items]
Restricted cash	$ 2,063		$ 2,063		$ 2,438
Assets held for sale	2,209		2,209
Asset impairment	2,649	$ 3,143	2,649	$ 3,143
Debt obligations and letters of credit
Accounting Policies [Line Items]
Restricted cash	$ 2,100		$ 2,100		$ 2,400
Maintains Voting Control
Accounting Policies [Line Items]
Ownership percentage of the subsidiary to consolidate their accounts			100%
Maximum
Accounting Policies [Line Items]
Ownership percentage of the subsidiary to consolidate their accounts			100%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies
Cash and cash equivalents	$ 76,201	$ 80,927	$ 78,022
Restricted cash	2,063		11,188
Total cash and cash equivalents and restricted cash	$ 78,264	$ 83,365	$ 89,210	$ 180,954

Asset Purchase Agreements (Narr

Asset Purchase Agreements (Narrative) (Details) $ in Thousands					6 Months Ended
	Jun. 27, 2024 USD ($) D	May 13, 2024	Jul. 28, 2023 USD ($)	Dec. 30, 2022 USD ($) shares	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Purchase Price recorded in accrued expenses - other					$ 3,788	$ 817
Sale of stock, number of shares issued | shares				4,900,000
Sale of Stock, Consideration Received on Transaction				$ 150,000
Number of days to dispose of assets purchased		180 days
Avenue | InvaGen
Payments of milestones					$ 600
Percentage of contingent fee payable					7.50%
Contingent fee payable from proceeds of future financing					$ 4,000
Mustang | UBriGene
Consideration Transferred	$ 4,700		$ 6,000
Fair value of assets less cost to sell in repurchase transaction	2,200
Remaining purchase consideration allocated to the supplies repurchased	2,500
Fair value of supplies with no alternative future use expensed as research and development expense	2,200
Fair Value of Supplies With Alternative Future Use Expensed as Research and Development Expense	300
Aggregate value of assets and associated supplies met the criteria to be classified as held for sale at the date of acquisition	2,200
Purchase Price recorded in accrued expenses - other	1,400				1,400
Consideration Transferred	1,400
Gain on sale of asset			1,400
Transaction Related Expenses			$ 300
Upfront payment	$ 100
Upfront payment due period | D	5
Subsequent amount	$ 1,300
Subsequent payment due period	12 months
Interest rate on outstanding liability	5%
Net Receivable from uBriGene	$ 3,300
Outstanding receivable from uBriGene	6,900
Outstanding payables of the company	$ 3,600
Net Assets Below 20 Million | Mustang | UBriGene
Subsequent payment extended due period	6 months
Asset acquisition consideration, threshold net assets considered for delay in subsequent payment					$ 20,000

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory
Raw materials	$ 3,583	$ 4,640
Work-in-process	296	884
Finished goods	6,213	4,987
Inventory reserve	(405)	(305)
Total inventories	$ 9,687	$ 10,206

Property and Equipment (Schedul

Property and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 15,368	$ 15,397
Impairment - leasehold improvements	(2,177)
Less: Accumulated depreciation	(9,645)	(8,892)
Property and equipment, net	3,546	6,505
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 595	595
Useful Life (Years)	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,017	1,017
Useful Life (Years)	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 13,175	13,175
Useful Life (Years)	15 years
Buildings
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 581	581
Useful Life (Years)	40 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 0	$ 29

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Depreciation expense	$ 400	$ 800	$ 753	$ 1,476
Assets held for sale	$ 2,209		2,209
Impairment loss allocated to leasehold improvements			2,200
Impairment loss allocated to right-of-use asset			400
Leasehold improvements
Tangible asset impairment charges			$ 2,600

Fair Value Measurements (Common

Fair Value Measurements (Common Stock Warrant Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common Stock Warrant liabilities at beginning of period		$ 886
Change in fair value of Warrant liabilities	$ 512		$ (6,166)
Common Stock Warrant liabilities at end of period		172
Checkpoint Common Stock Warrants | Common Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise of common stock warrants		(400)
Avenue | Common Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common Stock Warrant liabilities at beginning of period		586
Change in fair value of Warrant liabilities		(139)
Exercise of common stock warrants		(400)
Common Stock Warrant liabilities at end of period		47
Urica | Common Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange of warrants		(151)
Urica | Placement Agent Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of Warrant liabilities		$ (24)

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	Jun. 27, 2024	Dec. 30, 2022	Feb. 28, 2023	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sale of stock, net proceeds		$ 150,000
Stock offering, number of shares issued		4,900,000
Common stock warrant liabilities				$ 172	$ 886
Sale of National Holding's stock, proceeds received		$ 150,000
Urica | 8% Cumulative Convertible Class B Preferred Offering
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock offering, price per share			$ 25
Stock offering, number of shares issued			135,494
Preferred Stock, dividend rate percentage	8%		8%
Stock offering, aggregate fees paid			$ 500
Urica | Common Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant expiration term	5 years
Exchanged for warrants	202,834
Exercise price of warrants	$ 1.68
Placement Agent Warrants | Checkpoint Common Stock Warrants | December 2022 Offering
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock warrant liabilities				$ 100	$ 100

Fair Value Measurements (Weight

Fair Value Measurements (Weighted average Significant Unobservable Inputs) (Details)	Jun. 30, 2024 $ / shares Y	Dec. 31, 2023 Y $ / shares
Checkpoint | Series A Warrants | Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input | $ / shares	5.41	5.41
Checkpoint | Series A Warrants | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.045	0.038
Checkpoint | Series A Warrants | Expected term in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	3.5	4
Checkpoint | Series A Warrants | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	1.069	0.964
Avenue | Contingent Payment Warrants | Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	3.50	12
Avenue | Contingent Payment Warrants | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.0452	0.0384
Avenue | Contingent Payment Warrants | Expected term in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	3.3	3.8
Avenue | Contingent Payment Warrants | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	1.60	1.48
Urica | Placement Agent Warrants | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input		0.0393
Urica | Placement Agent Warrants | Expected term in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input		0.5
Urica | Placement Agent Warrants | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input		1.536

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets			$ 1,629	$ 2,138
Journey
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets	$ 800	$ 1,100	$ 1,600	$ 2,100

Intangible Assets (Schedule of

Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Impairment loss	$ 2,649	$ 3,143	$ 2,649	$ 3,143
Net intangible assets	18,658		18,658		$ 20,287
Journey
Total intangible assets - asset purchases	37,925		37,925		37,925
Accumulated amortization	(16,124)		(16,124)		(14,495)
Impairment loss			(3,143)		(3,143)
Net intangible assets	$ 18,658		$ 18,658		$ 20,287
Minimum | Journey
Intangible assets, estimated useful lives	3 years		3 years
Maximum | Journey
Intangible assets, estimated useful lives	9 years		9 years

Intangible Assets (Schedule o_2

Intangible Assets (Schedule of Future Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 18,658	$ 20,287
Journey
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	1,628
December 31, 2025	3,257
December 31, 2026	2,471
December 31, 2027	1,775
December 31, 2028	1,595
Thereafter	3,990
Sub-total	14,716
Asset not yet placed in service	3,942
Net intangible assets	$ 18,658	$ 20,287

Debt and Interest (Schedule of

Debt and Interest (Schedule of Debt) (Details) - USD ($) $ in Thousands		6 Months Ended
	Dec. 27, 2023	Jun. 30, 2024	Dec. 31, 2023	Aug. 27, 2020
Debt Instrument [Line Items]
Less: Discount of notes payable		$ (2,993)	$ (4,144)
Total notes payable		67,007	60,856
Oaktree Note
Debt Instrument [Line Items]
Total notes payable, gross		$ 50,000	50,000	$ 50,000
Interest rate		11%
Maturity Date, description		August 31, 2025
SWK Term Loan
Debt Instrument [Line Items]
Total notes payable, gross		$ 20,000	$ 15,000
Interest rate		14.90%
Maturity Date, description		December 31, 2027
Basis spread on variable rate	7.75%

Debt and Interest (Narrative) (

Debt and Interest (Narrative) (Details) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Jul. 25, 2024 USD ($)

Jun. 27, 2024 shares

Dec. 27, 2023 USD ($)

Dec. 30, 2022 shares

Aug. 27, 2020 USD ($)

Feb. 28, 2026

Jun. 30, 2024 USD ($)

Jun. 30, 2023 USD ($)

Feb. 28, 2023 USD ($) $ / shares shares

Jun. 30, 2024 USD ($)

Jun. 30, 2023 USD ($)

Dec. 31, 2025 USD ($)

Jul. 09, 2024 USD ($)

Dec. 31, 2023 USD ($)

Aug. 31, 2020 USD ($)

Debt Instrument [Line Items]

Amortization of Debt Issuance Costs

$ 631

$ 1,223

$ 1,240

$ 2,199

Stock offering, number of shares issued | shares

4,900,000

Oaktree Note

Debt Instrument [Line Items]

Debt instrument face amount

$ 60,000

Debt maturity date

Aug. 27, 2025

Amortization of Debt Issuance Costs

522

712

1,024

1,136

Total notes payable, gross

$ 50,000

50,000

50,000

$ 50,000

Oaktree Note | Subsequent Events

Debt Instrument [Line Items]

Debt instrument face amount

$ 50,000

Debt instrument, unused borrowing capacity, amount

$ 15,000

Debt Instrument, Floor Rate

2.50

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Basis spread on variable rate

7.625%

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Proceeds from debt

$ 35,000

Total notes payable, gross

$ 50,000

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Partner company notes payable

Debt Instrument [Line Items]

Amortization of Debt Issuance Costs

$ 64

272

$ 126

432

SWK Term Loan [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 20,000

Proceeds from Lines of Credit

15,000

Remaining borrowing capacity

$ 5,000

Debt Instrument, Floor Rate

5

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember

Basis spread on variable rate

7.75%

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember

Debt Instrument, Percentage of Exit Fees

5%

5%

Payments of Debt Issuance Costs

$ 200

Amortization of Debt Issuance Costs

$ 200

Debt, effective interest rate

14.90%

14.90%

Total notes payable, gross

$ 20,000

$ 20,000

$ 15,000

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember

SWK Term Loan [Member] | Debt Instrument, Repayment Period from February 2026 If Total Revenue Measured on Trailing Twelve Month Basis is Less than Threshold Revenue as of December 31, 2025 [Member]

Debt Instrument [Line Items]

Debt Instrument, Periodic Payment, Percentage of Principal Amount

7.50%

Debt Instrument, Threshold Revenue Considered for No Periodic Payment

$ 70,000

SWK Term Loan [Member] | Debt Instrument, Repayment Period from February 2027 If Total Revenue Measured on Trailing Twelve Month Basis is Greater than Threshold Revenue as of December 31, 2025 [Member]

Debt Instrument [Line Items]

Debt Instrument, Periodic Payment, Percentage of Principal Amount

15%

SWK Term Loan [Member] | If Debt Instruments Prepaid Prior To First Anniversary of Closing Date [Member]

Debt Instrument [Line Items]

Debt Instrument, Percentage of Prepayment Premium

2%

2%

SWK Term Loan [Member] | If Debt Instrument Prepaid On Or After First Anniversary But Prior To Second Anniversary Of Closing Date [Member]

Debt Instrument [Line Items]

Debt Instrument, Percentage of Prepayment Premium

1%

1%

SWK Term Loan [Member] | If Debt Instrument Prepaid After Second Anniversary Of Closing Date [Member]

Debt Instrument [Line Items]

Debt Instrument, Percentage of Prepayment Premium

0%

0%

SWK Term Loan [Member] | Subsequent Events

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 25,000

Line of credit facility additional borrowing capacity

$ 5,000

Urica

Debt Instrument [Line Items]

Aggregate gross proceeds from convertible preferred stock

$ 20,000

$ 20,000

Urica | Common Stock Warrant

Debt Instrument [Line Items]

Class of warrant or right value of securities called by warrants or rights | shares

2,028,345

Urica | 8% Cumulative Convertible Class B Preferred Offering

Debt Instrument [Line Items]

Preferred Stock, dividend rate percentage

8%

8%

Stock offering, price per share | $ / shares

$ 25

Stock offering, number of shares issued | shares

135,494

Stock offering, gross proceeds

$ 3,400

Stock offering, aggregate fees paid

500

Warrants, fair value

$ 100

Common stock's average 10-day trading price discount percentage

7.50%

Interest expense

$ 100

$ 100

$ 100

$ 100

Debt and Interest (Interest Exp

Debt and Interest (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Interest expense, interest	$ 1,491	$ 5,202	$ 3,484	$ 8,522
Amortization of fees	631	1,223	1,240	2,199
Interest expense, Total	2,122	6,425	4,724	10,721
Unamortized debt discount fees	2,993		2,993		$ 4,144
Oaktree Note
Debt Instrument [Line Items]
Interest expense, interest	1,390	1,391	2,781	2,781
Amortization of fees	522	712	1,024	1,136
Interest expense, Total	1,912	2,103	3,805	3,917
Partner company convertible preferred shares
Debt Instrument [Line Items]
Interest expense, interest		391		651
Amortization of fees	45	239	90	299
Debt Discount Amortization	(403)		(290)
Interest expense, Total		630		950
Interest expense, Total, Net	(358)		(200)
Partner company installment payments - licenses
Debt Instrument [Line Items]
Interest expense, interest		85	0	176
Amortization of fees			0	0
Interest expense, Total		85	0	176
Partner company notes payable
Debt Instrument [Line Items]
Interest expense, interest	499	3,301	985	4,801
Amortization of fees	64	272	126	432
Interest expense, Total	563	3,573	1,111	5,233
Other
Debt Instrument [Line Items]
Interest expense, interest	5	34	8	113
Amortization of fees			0	332
Interest expense, Total	$ 5	$ 34	$ 8	$ 445

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 27, 2024	Dec. 31, 2023
Accounts payable	$ 37,957		$ 34,810
Accrued expenses:
Professional fees	2,260		1,681
Salaries, bonus and related benefits	4,903		8,531
Research and development	8,547		11,644
Accrued royalties payable	1,656		2,015
Accrued coupon and rebates	6,596		9,987
Return reserve	3,214		4,077
Other	3,788		817
Total accounts payable and accrued expenses	68,921		$ 73,562
Mustang | UBriGene
Accrued expenses:
Other	$ 1,400	$ 1,400

Non-Controlling Interests (Deta

Non-Controlling Interests (Details)	Jun. 30, 2024	Dec. 31, 2023
Mustang
Non-Controlling Interests
Non-controlling ownership	7.20%	19%

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share (Schedule of Diluted Weighted Average Shares Outstanding) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of Series A preferred dividends on net loss per share calculation	$ 2	$ 2	$ 4	$ 4
Effect of partner company deemed dividends on net loss per share calculation	$ 0.4	$ 0.1	$ 0.8	$ 0.3
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding			7,482,640	1,537,908
Warrants to purchase Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding			5,769,787	127,296
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding			18,896	36,423
Unvested Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding			1,693,684	1,374,116
Unvested Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding			273	73

Stockholders' Equity (Stock-Bas

Stockholders' Equity (Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4,998	$ 4,217	$ 9,856	$ 8,948
Avenue Therapeutics, Inc [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	192	27	383	38
Checkpoint [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,171	567	1,881	1,536
Mustang
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	(619)	45	(542)	280
Journey
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,674	873	3,080	1,519
Other Partners [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	58	24	115	50
Employee and non-employee awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,249	2,271	4,442	4,708
Executive awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 273	$ 410	$ 497	$ 817

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 01, 2024	Jan. 01, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, shares authorized			200,000,000		200,000,000		200,000,000
Stock-based compensation expense			$ 4,998	$ 4,217	$ 9,856	$ 8,948
Stock options, unrecognized compensation expense			600	600	600	600
Change in fair value of Warrant liabilities				512		(6,166)
Journey
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 1,674	873	$ 3,080	1,519
2007 and 2013 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, shares available for issuance			10,000,000		10,000,000
2013 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, additional shares authorized					10,000,000
2012 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, additional shares authorized					1,000,000
Long-term Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 1,700	1,500	$ 3,300	2,900
Fair value of stock granted					700		$ 800
LTIP, Percentage of outstanding shares	1%	1%
Chief Executive Officer (Dr. Rosenwald) [Member] | Long-term Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted	216,465	216,465
Executive Vice President (Mr. Weiss) [Member] | Long-term Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted	216,465	216,465
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			700	500	1,700	1,500
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			4,300	3,700	$ 8,100	$ 7,500
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, period for recognition of expense					3 years 7 months 6 days	5 years 8 months 12 days
Restricted Stock Awards and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for awards other than options			$ 11,500	$ 16,000	$ 11,500	$ 16,000
Share-based compensation, period for recognition of expense					1 year 3 months 18 days	2 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted					443,024
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted					37,500

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Activities) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options vested and expected to vest, Number of shares	18,896
Number of shares, Granted	540,000
Options vested and expected to vest, Number of shares	558,896	18,896
Options vested and exercisable, Number of shares	18,896
Options vested and expected to vest, Weighted average exercise price	$ 20.55
Weighted average exercise price, Granted	1.68
Options vested and expected to vest, Weighted average exercise price	2.32	$ 20.55
Options vested and exercisable, Weighted average exercise price	$ 20.55
Total weighted average intrinsic value, Granted	$ 16,200
Total weighted average intrinsic value, Options vested and expected to vest	$ 16,200
Options vested and expected to vest, Weighted average contractual life	6 years 6 months 7 days	1 year 9 months 3 days
Options Granted, weighted average remaining contractual life (years)	6 years 8 months 15 days
Options vested and exercisable, Weighted average remaining contractual life (years)	1 year 3 months 3 days

Stockholders' Equity (Restricte

Stockholders' Equity (Restricted Stock Awards and Restricted Stock Units) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Restricted Stock Awards and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Unvested balance	1,861,655	1,458,700
Weighted average grant price, Unvested balance	$ 21.27	$ 28.05
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted	443,024
Number of shares, Vested	(17,303)
Weighted average grant price, Granted	$ 3.01
Weighted average grant price, Vested	$ 35.76
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted	37,500
Number of shares, Vested	(49,684)
Number of shares, Forfeited	(10,582)
Weighted average grant price, Granted	$ 1.84
Weighted average grant price, Vested	39.61
Weighted average exercise price, Forfeited	$ 11.43

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Warrant activities) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Outstanding warrants	9,275,929	5,787,289
Warrants granted, Number of shares	3,506,140
Warrants exercised, Number of shares	17,500
Warrants exercisable, Number of shares	9,275,929
Warrants outstanding, Weighted average exercise price	$ 2.35	$ 1.88
Warrants granted, Weighted average exercise price	3.12
Warrants expired, Weighted average exercise price	1.70
Warrants exercisable, Weighted average exercise price	$ 2.35
Warrants outstanding, Weighted average intrinsic value	$ 64,538	$ 7,794,450
Warrants granted, Weighted average intrinsic value	8,113
Warrants exercisable, Weighted average intrinsic value	$ 64,538
Warrants, Weighted average remaining contractual life	4 years 5 months 15 days	4 years 10 months 28 days
Warrants exercisable, Weighted average remaining contractual life	4 years 5 months 15 days

Stockholders' Equity (Capital R

Stockholders' Equity (Capital Raises) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

Jun. 27, 2024

Jun. 12, 2024

Jan. 05, 2024

May 05, 2023

Dec. 30, 2022

Apr. 23, 2021

Jun. 30, 2024

May 31, 2024

Apr. 30, 2024

Jan. 31, 2024

Jun. 30, 2023

Feb. 28, 2023

Jun. 30, 2024

Jun. 30, 2023

May 17, 2024

Jan. 09, 2024

Dec. 31, 2023

Oct. 11, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

4,900,000

Common Stock, par value

$ 0.0001

$ 0.001

$ 0.001

$ 0.001

Warrants exercised, Number of shares

17,500

Sale of stock, net proceeds

$ 150,000

Proceeds from Issuance of Common Stock

$ 2,826

$ 1,168

Gain (loss) on common stock warrant liabilities

$ 512

(6,166)

Aggregate purchase price

$ (41)

10,118

13,154

Exercise of warrants for cash

$ 30

$ 0

Avenue

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

689,680

Exercise price of warrants

$ 6.20

$ 116.25

Avenue | Series A Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, price per share

$ 22.545

Avenue | Series B Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, price per share

$ 22.545

Avenue | Unregistered warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

1,379,360

Stock offering, price per share

$ 0.125

Exercise price of warrants

$ 6.20

Net proceeds

$ 3,900

$ 3,700

Urica | Common Stock Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise price of warrants

$ 1.68

Warrant expiration term

5 years

Urica | Convertible Class B Preferred Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

135,494

Stock offering, price per share

$ 25

Stock offering, gross proceeds

$ 3,400

Stock offering, aggregate fees paid

$ 500

Preferred Stock, dividend rate percentage

8%

8%

Maximum | Avenue

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant expiration term

5 years

Minimum | Avenue

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant expiration term

18 months

At the Market Offering [Member] | MLV & Co. and FBR Capital Markets & Co [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

1,600,000

0.1

At the Market Offering [Member] | Cantor Fitzgerald & Co., Oppenheimer & Co., Inc., H.C. Wainwright & Co. Inc., Jones Trading Institutional Services LLC. B. Riley and Dawson James Securities, Inc [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, price per share

1.87

$ 11.31

$ 1.87

$ 11.31

Stock offering, gross proceeds

$ 2,900

$ 1,200

At the Market Offering [Member] | Journey

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

300,000

Stock offering, price per share

$ 5.28

$ 5.28

Number of Shares issuable for At-the-Market offering

3,861,553

Stock offering, gross proceeds

$ 1,500

At the Market Offering [Member] | Checkpoint | Founders Agreement

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

193,905

Shares issued (in percent)

2.50%

At the Market Offering [Member] | Mustang | Founders Agreement

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

0

0

At the Market Offering [Member] | Avenue | Founders Agreement

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

25,567

At the Market Offering [Member] | Avenue | Unregistered warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

87,683

87,683

Net proceeds

$ 300

Public Offering [Member] | Mustang

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

1,160,000

Number of warrants to purchase shares

50,632,914

Stock offering, price per share

$ 0.237

Exercise price of warrants

$ 0.237

Warrants exercised, Number of shares

15,717,638

Exercise of warrants for cash

$ 3,300

Public Offering [Member] | Mustang | Series A One Warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant expiration term

5 years

Public Offering [Member] | Mustang | Series A Two Warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant expiration term

24 months

Public Offering [Member] | Mustang | Series A Three Warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant expiration term

9 months

Public Offering [Member] | Mustang | Amended Warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

2,588,236

Stock offering, price per share

$ 1.58

Exercise price of warrants

$ 0.237

Warrant expiration term

5 years

Public Offering [Member] | Mustang | Common Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

16,877,638

Shelf Registration Statement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Amount available for future stock offerings

$ 86,200

86,200

Shelf Registration 2023 Statement [Member] | Checkpoint

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Amount available for future stock offerings

77,700

77,700

Shelf Registration 2023 Statement [Member] | Maximum | Checkpoint

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, aggregate offering permitted by the agreement

$ 150,000

Shelf Registration 2024 Statement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Amount available for future stock offerings

$ 50,000

Shelf Registration 2024 Statement [Member] | Mustang

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, aggregate offering permitted by the agreement

37,500

Shelf Registration 2024 Statement [Member] | Maximum | Mustang

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, aggregate offering permitted by the agreement

$ 40,000

Shelf Registration 2021 Statement [Member] | Mustang

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, aggregate offering permitted by the agreement

$ 200,000

4,400

Shelf Registration 2021 Statement [Member] | Avenue

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Amount available for future stock offerings

$ 24,600

$ 24,600

Direct Offering [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

3,303,305

Exercise price of warrants

$ 3.21

Unit Price Per Share

$ 3.33

Warrant expiration term

5 years

Sale of stock, net proceeds

$ 10,200

Direct Offering [Member] | Checkpoint

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Issuance of common shares - Registered direct offering

1,275,000

Stock offering, price per share

$ 1.805

Sale of stock, net proceeds

$ 12,600

Direct Offering [Member] | Checkpoint | Common Stock Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise price of warrants

$ 1.68

Warrant expiration term

5 years

Direct Offering [Member] | Checkpoint | Pre-Funded Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants issued

6,481,233

Number of shares called by warrants

1

Stock offering, price per share

$ 1.8049

Exercise price of warrants

$ 0.0001

Direct Offering [Member] | Mustang

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock offering, number of shares issued

3,025,000

575,191

Number of warrants to purchase shares

3,105,000

3,105,000

Stock offering, price per share

$ 0.4099

$ 0.4099

Per share amount reduced from share price to calculate warrant price

0.001

0.001

Exercise price of warrants

$ 0.001

$ 0.001

Warrant expiration term

5 years

5 years

Warrants exercised, Number of shares

3,105,000

Stock offering, aggregate fees paid

$ 300

Sale of stock, net proceeds

$ 2,200

Shares issued (in percent)

2.50%

Direct Offering [Member] | Mustang | Unregistered warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

6,130,000

6,130,000

Exercise price of warrants

$ 0.41

$ 0.41

Direct Offering [Member] | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

3,303,305

Direct Offering [Member] | Maximum | Checkpoint

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

7,756,233

Private Placement | Avenue

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise of warrants for cash

$ 4,500

Private Placement | Avenue | Series A Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

220,538

Private Placement | Avenue | Series B Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

220,538

Private Placement | Avenue | January 2023 Warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

25,871

Exercise price of warrants

$ 116.25

Exercise price of warrants agreed by investor

$ 22.545

Fair value of warrants

$ 600

$ 600

Private Placement | Avenue | November 2023 Warrants

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of warrants to purchase shares

194,667

Exercise price of warrants

$ 22.545

Exercise price of warrants agreed by investor

$ 22.545

Fair value of warrants

$ 4,300

$ 4,300

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Lessee, Operating Lease, Description [Abstract]
Operating lease liabilities	$ 18,415
Operating lease right-of-use asset, net	14,626	$ 16,990
Amount of Caelum acquisition reveived	57,000
Caelum's legal fees and costs	$ 15,000

Commitments and Contingencies_3

Commitments and Contingencies (Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies
Operating lease cost	$ 595	$ 950	$ 1,235	$ 1,969
Shared lease costs	(519)	(519)	(1,042)	(1,034)
Variable lease cost	174	199	390	400
Total lease expense	$ 250	$ 630	$ 583	$ 1,335

Commitments and Contingencies_4

Commitments and Contingencies (Quantitative Information about Operating Leases) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies
Operating cash flows from operating leases	$ (1,850)	$ (1,762)
Weighted-average remaining lease term - operating leases (years)	4 years	4 years 4 months 24 days
Weighted-average discount rate - operating leases	6%	6.50%

Commitments and Contingencies_5

Commitments and Contingencies (Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Nine Months Ended December 31, 2024	$ 1,819
Year Ended December 31, 2025	3,542
Year Ended December 31, 2026	3,272
Year Ended December 31, 2027	2,923
Year Ended December 31, 2028	2,967
Other	8,125
Total operating lease liabilities	22,648
Less: present value discount	(4,233)
Net operating lease liabilities, short-term and long-term	$ 18,415

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 31, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 30, 2022
Related Party Transaction [Line Items]
Common Stock, par value		$ 0.001		$ 0.001		$ 0.001	$ 0.0001
Aggregate purchase price			$ (41,000)	$ 10,118,000	$ 13,154,000
Proceeds from issuance of Common stock				$ 2,826,000	1,168,000
Preferred Stock, shares outstanding		3,427,138		3,427,138		3,427,138
Preferred Stock, Liquidation Preference Per Share		$ 25		$ 25		$ 25
Total notes payable		$ 67,007,000		$ 67,007,000		$ 60,856,000
Repayments of Debt				$ 0	40,375,000
Avenue
Related Party Transaction [Line Items]
Paid in Kind dividend as a percentage of fully diluted outstanding capitalization				2.50%
Journey
Related Party Transaction [Line Items]
Proceeds from Related Party Agreement		8,000	21,000	$ 18,000	36,000
Related Party
Related Party Transaction [Line Items]
Revenue - related party		41,000	31,000	41,000	66,000
Related Party | Journey
Related Party Transaction [Line Items]
Other receivables - related party		300,000		300,000
TGTX | Shared Services Agreement | Related Party
Related Party Transaction [Line Items]
Other receivables - related party		100,000	0	100,000	0
Revenue - related party		100,000	100,000	700,000	200,000
TGTX | Desk Share Agreements | New York, NY Office Space
Related Party Transaction [Line Items]
Total payment for rent		700,000	800,000	1,400,000	1,400,000
TGTX | Desk Share Agreements | Related Party | New York, NY Office Space
Related Party Transaction [Line Items]
Revenue - related party		$ 500,000	$ 500,000	$ 1,000,000	$ 1,000,000
Cyprium | Related Party | 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock
Related Party Transaction [Line Items]
Preferred Stock, dividend rate percentage	9.375%
Preferred Stock, shares outstanding		300,600		300,600
Monthly cash dividend	$ 0.19531
Annual cash dividend payable	2.34375
Preferred Stock, Liquidation Preference Per Share	$ 25
Exchange term of preferred stock	24 months

Related Party Transactions (PIK

Related Party Transactions (PIK Dividend or Equity Fee Payable) (Details)	6 Months Ended
	Jun. 30, 2024
Avenue
Related Party Transaction [Line Items]
Effective date	Feb. 17, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%
Baergic
Related Party Transaction [Line Items]
Effective date	Dec. 17, 2019
Cellvation
Related Party Transaction [Line Items]
Effective date	Oct. 31, 2016
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%
Checkpoint
Related Party Transaction [Line Items]
Effective date	Mar. 17, 2015
Annual equity fee as a percentage of fully diluted outstanding capitalization	2.50%
Cyprium
Related Party Transaction [Line Items]
Effective date	Mar. 13, 2017
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%
Helocyte
Related Party Transaction [Line Items]
Effective date	Mar. 20, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%
Mustang
Related Party Transaction [Line Items]
Effective date	Mar. 13, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%
Oncogenuity
Related Party Transaction [Line Items]
Effective date	Apr. 22, 2020
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%
Urica
Related Party Transaction [Line Items]
Effective date	Nov. 07, 2017
PIK dividend as a percentage of fully diluted outstanding capitalization	2.50%

Related Party Transactions (Man

Related Party Transactions (Management Services Agreement) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Related Party Transaction [Line Items]
Fortress - MSA Income	$ (4,000)
Avenue
Related Party Transaction [Line Items]
Effective date	Feb. 17, 2015
Partner companies, MSA fee expense	$ 500
Baergic
Related Party Transaction [Line Items]
Effective date	Mar. 09, 2017
Cellvation
Related Party Transaction [Line Items]
Effective date	Oct. 31, 2016
Partner companies, MSA fee expense	$ 500
Checkpoint
Related Party Transaction [Line Items]
Effective date	Mar. 17, 2015
Partner companies, MSA fee expense	$ 500
Cyprium
Related Party Transaction [Line Items]
Effective date	Mar. 13, 2017
Partner companies, MSA fee expense	$ 500
Helocyte
Related Party Transaction [Line Items]
Effective date	Mar. 20, 2015
Partner companies, MSA fee expense	$ 500
Mustang
Related Party Transaction [Line Items]
Effective date	Mar. 13, 2015
Partner companies, MSA fee expense	$ 500
Oncogenuity
Related Party Transaction [Line Items]
Effective date	Feb. 10, 2017
Partner companies, MSA fee expense	$ 500
Urica
Related Party Transaction [Line Items]
Effective date	Nov. 07, 2017
Partner companies, MSA fee expense	$ 500

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Information
Number of reportable segment	2

Segment Information (Schedule o

Segment Information (Schedule of Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net Revenue	$ 14,896	$ 17,386	$ 27,926	$ 29,815
Cost of goods - product revenue	(6,541)	(7,767)	(13,357)	(14,216)
Research and development	(12,671)	(32,142)	(37,495)	(71,648)
Selling, general and administrative	(20,823)	(24,439)	(38,777)	(49,780)
Asset impairment	(2,649)	(3,143)	(2,649)	(3,143)
Other expense	(1,036)	(9,196)	(3,494)	(5,474)
Income tax expense	0	0	0	0
Net loss	(28,824)	(59,301)	(67,846)	(114,446)
Dermatology Products Sales
Segment Reporting Information [Line Items]
Net Revenue	14,855	17,172	27,885	29,385
Cost of goods - product revenue	(6,541)	(7,767)	(13,357)	(14,216)
Research and development	(913)	(1,774)	(8,797)	(3,807)
Selling, general and administrative	(10,328)	(12,141)	(18,748)	(25,433)
Asset impairment		(3,143)		(3,143)
Other expense	(434)	(710)	(786)	(1,285)
Net loss	(3,361)	(8,363)	(13,803)	(18,499)
Pharmaceutical and Biotechnology Product Development
Segment Reporting Information [Line Items]
Net Revenue	41	214	41	430
Cost of goods - product revenue			0
Research and development	(11,758)	(30,368)	(28,698)	(67,841)
Selling, general and administrative	(10,495)	(12,298)	(20,029)	(24,347)
Asset impairment	(2,649)		(2,649)
Other expense	(602)	(8,486)	(2,708)	(4,189)
Net loss	$ (25,463)	$ (50,938)	$ (54,043)	$ (95,947)

Segment Information (Total asse

Segment Information (Total assets by reportable segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Intangible assets, net	$ 18,658	$ 20,287
Tangible assets	127,027	147,239
Total assets	145,685	167,526
Dermatology Products Sales
Segment Reporting Information [Line Items]
Intangible assets, net	18,658	20,287
Tangible assets	46,531	56,562
Total assets	65,189	76,849
Pharmaceutical and Biotechnology Product Development
Segment Reporting Information [Line Items]
Tangible assets	80,496	90,677
Total assets	$ 80,496	$ 90,677

Revenues from Contracts and S_3

Revenues from Contracts and Significant Customers (Narrative) (Details) - Dermatology Products Sales - Customer Concentration Risk - customer	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue
Disaggregation of Revenue [Line Items]
Number of customers	0	0	0	0
Accounts Receivable
Disaggregation of Revenue [Line Items]
Number of customers			2		1
Customer One | Accounts Receivable
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			18%		13%
Customer Two | Accounts Receivable
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			10.80%

Revenues from Contracts and S_4

Revenues from Contracts and Significant Customers (Company's product revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Product revenue, net	$ 14,855	$ 16,961	$ 27,885	$ 29,126
Collaboration revenue		183		364
Other revenue		211		259
Net revenue	14,896	17,386	27,926	29,815
Related Party
Revenue - related party	41	31	41	66
Qbrexza
Product revenue, net	6,836	8,079	11,853	12,173
Accutane
Product revenue, net	5,719	5,579	11,538	10,227
Amzeeq
Product revenue, net	1,205	1,374	1,960	2,568
Zilxi
Product revenue, net	369	572	642	886
Other Legacy Product Revenue
Product revenue, net	$ 726	$ 1,357	$ 1,892	$ 3,272

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Taxes
Income tax expense	$ 0	$ 0	$ 0	$ 0
Effective income tax rate	0%	0%	0%	0%
Minimum ownership interest in subsidiaries for consolidated income tax return			80%

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands

1 Months Ended

6 Months Ended

Jul. 25, 2024 USD ($) $ / shares shares

Jul. 15, 2024 USD ($) director D

Jul. 05, 2024 USD ($) $ / shares

Dec. 27, 2023 USD ($)

Dec. 30, 2022 USD ($) $ / shares shares

Jul. 31, 2024 USD ($) $ / shares shares

Jun. 30, 2024 USD ($) $ / shares shares

May 31, 2024 USD ($) $ / shares shares

Apr. 30, 2024 USD ($) $ / shares shares

Jan. 31, 2024 USD ($) $ / shares shares

Jun. 30, 2024 USD ($) $ / shares shares

Jun. 30, 2023 USD ($)

Jul. 09, 2024 USD ($)

Jun. 27, 2024 $ / shares

Jan. 09, 2024 $ / shares

Dec. 31, 2023 USD ($) $ / shares

Oct. 11, 2022 $ / shares

Aug. 31, 2020 USD ($)

Aug. 27, 2020 USD ($)

Subsequent Events

Stock offering, number of shares issued | shares

4,900,000

Sale of National Holding's stock, proceeds received

$ 150,000

Common Stock, par value | $ / shares

$ 0.0001

$ 0.001

$ 0.001

$ 0.001

Proceeds from Warrant Exercises

$ 30

$ 0

Avenue

Subsequent Events

Number of warrants to purchase shares | shares

689,680

Exercise price of warrants | $ / shares

$ 6.20

$ 116.25

Avenue | Minimum

Subsequent Events

Warrant expiration term

18 months

Avenue | Maximum

Subsequent Events

Warrant expiration term

5 years

Avenue | Series A Warrants

Subsequent Events

Stock offering, price per share | $ / shares

$ 22.545

Avenue | Series B Warrants

Subsequent Events

Stock offering, price per share | $ / shares

$ 22.545

Avenue | Unregistered warrants

Subsequent Events

Number of warrants to purchase shares | shares

1,379,360

Exercise price of warrants | $ / shares

$ 6.20

Stock offering, price per share | $ / shares

$ 0.125

Total gross proceeds

$ 3,900

$ 3,700

Urica | Common Stock Warrant

Subsequent Events

Exercise price of warrants | $ / shares

$ 1.68

Warrant expiration term

5 years

Direct offering

Subsequent Events

Exercise price of warrants | $ / shares

$ 3.21

Stock offering, number of shares issued | shares

3,303,305

Warrant expiration term

5 years

Sale of National Holding's stock, proceeds received

$ 10,200

Unit Price Per Share | $ / shares

$ 3.33

Direct offering | Maximum

Subsequent Events

Number of warrants to purchase shares | shares

3,303,305

Direct offering | Checkpoint Common Stock Warrants

Subsequent Events

Stock offering, price per share | $ / shares

$ 1.805

Sale of National Holding's stock, proceeds received

$ 12,600

Direct offering | Checkpoint Common Stock Warrants | Maximum

Subsequent Events

Number of warrants to purchase shares | shares

7,756,233

Direct offering | Checkpoint Common Stock Warrants | Common Stock Warrant

Subsequent Events

Exercise price of warrants | $ / shares

$ 1.68

Warrant expiration term

5 years

Direct offering | Checkpoint Common Stock Warrants | Pre funded warrants

Subsequent Events

Exercise price of warrants | $ / shares

$ 0.0001

Warrants issued | shares

6,481,233

Number of shares called by warrants | shares

1

Stock offering, price per share | $ / shares

$ 1.8049

Direct offering | Checkpoint Common Stock Warrants | Placement Agent Warrants

Subsequent Events

Exercise price of warrants | $ / shares

$ 2.2563

Direct offering | Checkpoint Common Stock Warrants | Placement Agent Warrants | Maximum

Subsequent Events

Number of warrants to purchase shares | shares

465,374

Direct offering | Mustang

Subsequent Events

Number of warrants to purchase shares | shares

3,105,000

3,105,000

Exercise price of warrants | $ / shares

$ 0.001

$ 0.001

Stock offering, number of shares issued | shares

3,025,000

575,191

Stock offering, price per share | $ / shares

$ 0.4099

$ 0.4099

Warrant expiration term

5 years

5 years

Sale of National Holding's stock, proceeds received

$ 2,200

Direct offering | Mustang | Unregistered warrants

Subsequent Events

Number of warrants to purchase shares | shares

6,130,000

6,130,000

Exercise price of warrants | $ / shares

$ 0.41

$ 0.41

Public Offering | Mustang

Subsequent Events

Number of warrants to purchase shares | shares

50,632,914

Exercise price of warrants | $ / shares

$ 0.237

Stock offering, number of shares issued | shares

1,160,000

Stock offering, price per share | $ / shares

$ 0.237

Proceeds from Warrant Exercises

$ 3,300

Public Offering | Mustang | Common Stock

Subsequent Events

Stock offering, number of shares issued | shares

16,877,638

Public Offering | Mustang | Series A One Warrants

Subsequent Events

Warrant expiration term

5 years

Public Offering | Mustang | Series A Two Warrants

Subsequent Events

Warrant expiration term

24 months

Public Offering | Mustang | Series A Three Warrants

Subsequent Events

Warrant expiration term

9 months

Public Offering | Mustang | Amended Warrants

Subsequent Events

Number of warrants to purchase shares | shares

2,588,236

Exercise price of warrants | $ / shares

$ 0.237

Stock offering, price per share | $ / shares

$ 1.58

Warrant expiration term

5 years

SWK Term Loan

Subsequent Events

Maximum borrowing capacity

$ 20,000

Basis spread on variable rate

7.75%

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember

Debt instrument, floor rate

5

Total notes payable, gross

$ 20,000

$ 20,000

$ 15,000

Oaktree Note

Subsequent Events

Debt instrument face amount

$ 60,000

Total notes payable, gross

$ 50,000

$ 50,000

$ 50,000

$ 50,000

Subsequent Events

Subsequent Events

Debt Instrument, number of interest only period

30 months

Subsequent Events | Scenario when the outstanding principal balance is less than or equal to 10 million

Subsequent Events

Minimum liquidity to be maintained

$ 0

Minimum net sales to be maintained

0

Subsequent Events | Scenario when the outstanding principal balance is between 10 million and 25 million

Subsequent Events

Minimum liquidity to be maintained

5,000

Increase in minimum liquidity to be maintained under each instance of product disapproval as per the debt agreement

3,750

Subsequent Events | 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock [Member]

Subsequent Events

Preferred Stock, Monthly Dividends, Per Share, Paused | $ / shares

$ 0.1953125

Preferred Stock, dividend rate percentage

9.375%

Deferred Dividends

$ 700

Subsequent Events | Crystalys Therapeutics, Inc [Member]

Subsequent Events

Capitalization in equity securities

$ 150,000

Subsequent Events | Urica

Subsequent Events

Percentage of equity to be held

35%

Subsequent Events | Urica | Crystalys Therapeutics, Inc [Member]

Subsequent Events

Urica's equity position

15%

Percentage of royalty on future net sales

3%

Number of directors | director

1

Number of days to provide transition support | D

90

Subsequent Events | July 2024 Registered Direct Offering [Member] | Checkpoint Common Stock Warrants

Subsequent Events

Number of warrants to purchase shares | shares

5,853,659

Exercise price of warrants | $ / shares

$ 2.05

Stock offering, number of shares issued | shares

1,230,000

Warrants issued | shares

4,623,659

Stock offering, price per share | $ / shares

$ 2.05

Total gross proceeds

$ 12,000

Warrant expiration term

5 years

Subsequent Events | July 2024 Registered Direct Offering [Member] | Checkpoint Common Stock Warrants | Pre funded warrants

Subsequent Events

Exercise price of warrants | $ / shares

$ 2.0499

Subsequent Events | SWK Term Loan

Subsequent Events

Maximum borrowing capacity

$ 25,000

Line of credit facility additional borrowing capacity

$ 5,000

Subsequent Events | Oaktree Note

Subsequent Events

Proceeds from debt

35,000

Debt instrument, unused borrowing capacity, amount

15,000

Debt instrument face amount

$ 50,000

Basis spread on variable rate

7.625%

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

us-gaap:SecuredOvernightFinancingRateSofrMember

Debt instrument, floor rate

2.50

Debt instrument, cap rate

5.75

Debt instrument, percentage of then outstanding principal balance due on a specified date

50%

Debt instrument, aggregate of principal prepayment amount, minimum

$ 5,000

Debt instrument, aggregate of principal prepayment amount in multiples

1,000

Excess proceeds from any of company's subsidiaries other than in connection with certain monetization events

5,000

Minimum liquidity to be maintained

7,000

Minimum net sales to be maintained

$ 50,000

Minimum net sale trailing period

12 months

Debt instrument, threshold amount of aggregate common equity or cash distributions to be received

$ 20,000

Percentage of amount set forth in annual budget

50%

Outstanding principal balance

$ 10,000

Number of warrants to purchase shares | shares

506,390

Exercise price of warrants | $ / shares

$ 2.0735

Total notes payable, gross

$ 50,000