Emmaus Life Sciences, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Selected Financial Statement Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Accounts payable and accrued expenses as of December 31, 2025 and 2024 consisted of the following (in thousands):


	As of December 31,
	2025		2024
Accounts payable:
Clinical and regulatory expenses	$	565	$	452
Professional fees		927		904
Selling expenses		1,721		1,553
Manufacturing costs		1,466		706
Non-employee director compensation		1,018		966
Other vendors		282		594
Total accounts payable		5,979		5,175
Accrued interest payable, related parties		1,474		1,145
Accrued interest payable		5,841		2,874
Accrued expenses:
Payroll expenses		452		323
Government rebates and other rebates		8,538		7,229
Other accrued expenses		331		180
Total accrued expenses		9,321		7,732
Total accounts payable and accrued expenses	$	22,615	$	16,926

Other current liabilities consisted of the following (in thousands):


	As of December 31
	2025		2024
Trade discount	$	3,190	$	5,000
Unearned revenue (a)		13,000		10,000
Other current liabilities		1,375		1,557
Total other current liabilities	$	17,565	$	16,557

(a) Refer Note 3 for information regarding to the unearned revenue.

Other long-term liabilities consisted of the following (in thousands):


	As of December 31
	2025		2024
Trade discount	$	12,239	$	13,421
Other long-term liabilities		53		44
Total other long-term liabilities	$	12,292	$	13,465