License and Collaboration Agreements |
3 Months Ended |
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Mar. 31, 2024 | |
| Revenue from Contract with Customer [Abstract] | |
| License and Collaboration Agreements | License and Collaboration Agreements Otsuka Contract On December 17, 2020, the Company entered into a collaboration and license agreement with Otsuka for the development and commercialization of oral LUPKYNIS in the Otsuka Territories. For full description of the agreements the Company has entered into with Otsuka, please refer to the Annual Report on Form 10-K for the year ended December 31, 2023. As part of the agreement, the Company received an upfront cash payment of $50.0 million in 2020 for the license agreement and has received $40.0 million in regulatory and pricing approval related milestones. The Company provides semi-finished product of LUPKYNIS to Otsuka on a cost-plus basis, sharing capacity of the monoplant and receives tiered royalties ranging from 10 to 20 percent (dependent on territory and achievement of sale thresholds) on net product sales by Otsuka, along with additional milestone payments based on the attainment of certain annual sales. In addition, certain collaboration services are to be provided to Otsuka on agreed upon rates. On November 13, 2023, Otsuka filed a new drug application (NDA) for voclosporin for the treatment of lupus nephritis (LN) with the Japanese Ministry of Health, Labour, and Welfare for the manufacture and sale in Japan of voclosporin. The Company is eligible to receive a payment of $10 million upon approval in Japan, which is anticipated in the second half of 2024, along with low double-digit royalties on net sales once launched. For the three months ended March 31, 2024 and March 31, 2023, the Company recognized $2.2 million and $0.1 million, respectively of license, collaboration and royalty revenue from services provided under the Otsuka agreement. Riptide License On August 17, 2021, AUR300 (M2 macrophage modulation via CD206 binding) was secured through a global licensing and research agreement with Riptide Bioscience, Inc. (Riptide), a private company. Effective February 14, 2024 the Company is ceasing future development of AUR300.
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