v3.25.3
Royalty Financing Agreement (Tables)
9 Months Ended
Sep. 30, 2025
Royalty Financing Agreement  
Schedule of interest expenses under royalty financing

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Three months ended September 30, 

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Nine months ended September 30, 

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2025

    

2024

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2025

    

2024

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(in millions)

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(in millions)

Interest expense at effective interest rate of 10.5% per annum for the three months and nine months ended September 30, 2025, and 12.0% per annum for the three and nine months ended September 30, 2024, respectively

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$

12.3

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$

12.9

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$

35.8

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$

37.4

Interest recorded in the Consolidated Statements of Operations and Comprehensive Loss

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13.8

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12.8

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40.9

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37.7

Interest expense at effective interest rate of 12.0% per annum for the three months and nine months ended September 30, 2025, and 13.5% per annum for the three and nine months ended September 30, 2024, respectively

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14.2

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14.6

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41.1

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42.3

Schedule of movement in the liability related to royalty financing agreement

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Amount of liability

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(in thousands)

Balance as of December 31, 2024 (includes $5.0 million presented as "Accrued expenses and other current liabilities")

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$

439,881

Royalty payments to the Purchaser

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(11,675)

Interest expense for the period

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40,884

Balance as of September 30, 2025 (includes $3.6 million presented as "Accrued expenses and other current liabilities")

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$

469,090

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