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Liabilities Related to the Sales of Future Royalties (Tables)
12 Months Ended
Dec. 31, 2023
Liability Related To Sale Of Potential Future Royalties [Abstract]  
Schedule of Liability Related to Potential Future Royalties

The following table shows the activity within the liability account of each arrangement (in thousands):

 

 

Year-Ended December 31, 2023

 

 

Period from inception to December 31, 2023

 

 

2012
Purchase
and Sale
Agreement

 

 

2020
Purchase
and Sale
Agreement

 

 

Total

 

 

2012
Purchase
and Sale
Agreement

 

 

2020
Purchase
and Sale
Agreement

 

 

Total

 

Liabilities related to the sales of future royalties—beginning balance

 

$

55,167

 

 

$

102,294

 

 

$

157,461

 

 

$

 

 

$

 

 

$

 

Royalty monetization proceeds

 

 

 

 

 

 

 

 

 

 

 

124,000

 

 

 

150,000

 

 

 

274,000

 

Non-cash royalty revenue

 

 

(37,323

)

 

 

(31,598

)

 

 

(68,921

)

 

 

(353,847

)

 

 

(118,319

)

 

 

(472,166

)

Non-cash interest expense

 

 

6,373

 

 

 

18,961

 

 

 

25,334

 

 

 

240,542

 

 

 

57,976

 

 

 

298,518

 

Payments to RPI

 

 

 

 

 

 

 

 

 

 

 

(10,000

)

 

 

 

 

 

(10,000

)

Loss on revaluation of liability related to the sale of future royalties

 

 

 

 

 

 

 

 

 

 

 

23,522

 

 

 

 

 

 

23,522

 

Liabilities related to the sales of future royalties – ending balance

 

 

24,217

 

 

 

89,657

 

 

 

113,874

 

 

 

24,217

 

 

 

89,657

 

 

 

113,874

 

Less: unamortized transaction costs

 

 

 

 

 

(1,249

)

 

 

(1,249

)

 

 

 

 

 

(1,249

)

 

 

(1,249

)

Liabilities related to the sales of future royalties, net

 

$

24,217

 

 

$

88,408

 

 

$

112,625

 

 

$

24,217

 

 

$

88,408

 

 

$

112,625