Emmaus Life Sciences, Inc. Quarterly report [Sections 13 or 15(d)]

Selected Financial Statement - Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Accounts payable and accrued expenses consisted of the following at March 31, 2026 and December 31, 2025 (in thousands):


	March 31, 2026		December 31, 2025
Accounts payable:
Clinical and regulatory expenses	$	441	$	565
Professional fees		844		927
Selling expenses		1,580		1,721
Manufacturing costs		1,724		1,466
Non-employee director compensation		1,006		1,018
Other vendors		215		282
Total accounts payable		5,810		5,979
Accrued interest payable, related parties		1,534		1,474
Accrued interest payable		6,905		5,841
Accrued expenses:
Payroll expenses		382		452
Government rebates and other rebates		9,294		8,538
Other accrued expenses		562		331
Total accrued expenses		10,238		9,321
Total accounts payable and accrued expenses	$	24,487	$	22,615

Other current liabilities consisted of the following at March 31, 2026 and December 31, 2025 (in thousands):


	As of March 31, 2026		As of December 31, 2025
Trade discount	$	3,200	$	3,190
Unearned revenue (a)		13,000		13,000
Other current liabilities		1,243		1,375
Total other current liabilities	$	17,443	$	17,565

(a) Refer to Note 3 for further information.

Other long-term liabilities consisted of the following at March 31, 2026 and December 31, 2025 (in thousands):


	As of March 31, 2026		As of December 31, 2025
Trade discount	$	12,361	$	12,239
Other long-term liabilities		57		53
Total other long-term liabilities	$	12,418	$	12,292