Financial Royalty Assets, net (formerly known as Commercial License Rights) (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Financial royalty assets consist of the following (in thousands):


	September 30, 2024						December 31, 2023
	Gross carrying value(2)		Allowance (1)		Net carrying value (2)		Gross carrying value		Allowance (1)		Net carrying value
Apeiron	$	113,371	$	(735)	$	112,636	$	—	$	—	$	—
Agenus (Bot/Bal)	40,815		(408)		40,407		—		—		—
Elutia (CorMatrix)	10,032		(2,607)		7,425		13,304		(7,490)		5,814
Selexis	242		(58)		184		940		(179)		761
Ovid (Soticlestat)	4,122		(41)		4,081		30,310		(303)		30,007
Tolerance Therapeutics (TZIELD)	25,698		(101)		25,597		25,810		(101)		25,709
Ensifentrine inventors	16,018		(481)		15,537		—		—		—
Total financial royalty assets, net	$	210,298	$	(4,431)	$	205,867	$	70,364	$	(8,073)	$	62,291

(1) The amounts of allowance include cumulated allowance for changes in expected cash flows and cumulated allowance for current expected credit losses.

(2) The amounts include $6.6 million current portion of financial royalty assets which represents an estimation for current quarter royalty receipts that are collected during the subsequent quarter. This portion is presented in other current assets on our condensed consolidated balance sheet as of September 30, 2024.