Royalty Financing Agreement (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Carrying Value of Royalty Financing Agreement

The following table presents the carrying value of the Company's convertible notes balance (in thousands):


	As of
	June 30, 2024		December 31, 2023
Face value of outstanding convertible notes	$	800,000	800,000
Debt issuance costs	(9,447)		(11,091)
Less: current convertible notes	(224,448)		—

Total long-term convertible notes	$	566,105	$	788,909

The following table shows the activity within the liability account for the six-month period ended June 30, 2024 and year ended December 31, 2023 (in thousands):


	Six Months Ended June 30, 2024		Twelve Months Ended December 31, 2023
Royalty financing agreement liability - beginning balance	$	158,162	$	151,538
Revenue Interest Payments paid and payable	(6,634)		(12,222)
Interest expense recognized	9,715		18,846
Royalty financing agreement liability - ending balance	$	161,243	$	158,162
Royalty financing issuance costs:
Royalty issuance costs, unamortized - beginning balance	$	(3,128)	$	(3,523)
Amortization of issuance costs	262		521
Other	—		(126)
Deferred issuance costs, unamortized - ending balance	$	(2,866)	$	(3,128)
Royalty Financing Agreement	$	158,377	$	155,034