Subsequent Events

3 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

(A) Richter Development and Commercialization Agreement

On July 16, 2021, the European Commission approved RYEQO as the first and only long-term, once-daily oral treatment in Europe for moderate to severe symptoms of uterine fibroids in adult women of reproductive age. This approval triggered a $15.0 million regulatory milestone payment due from Richter, which the Company expects to receive and record as Richter license and milestone revenue in the three months ending September 30, 2021.

See Note 8(A) for additional information about the Richter Development and Commercialization Agreement.

(B) Pfizer Collaboration and License Agreement

In July 2021, the Company received a $100.0 million regulatory milestone payment from Pfizer that was triggered upon the FDA approval of MYFEMBREE for the management of heavy menstrual bleeding associated with uterine fibroids on May 26, 2021. This regulatory milestone is included in the caption titled, milestone receivable from Pfizer, on the unaudited condensed consolidated balance sheet as of June 30, 2021.

In July 2021, the Company and Pfizer agreed to extend the timeline for Pfizer’s decision to exercise its exclusive option to develop and commercialize relugolix in oncology in the Pfizer Territory, through the end of October 2021.

See Note 8(B) for additional information about the Pfizer Collaboration and License Agreement.