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v3.25.1

Financial Royalty Assets, net (Tables) | 3 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Financial Royalty Assets | Financial royalty assets consist of the following (in thousands):
|  | March 31, 2025 |  | December 31, 2024
|  | Gross carrying value(2) |  | Allowance (1) |  | Net carrying value (2) |  | Gross carrying value(2) |  | Allowance (1) |  | Net carrying value
Qarziba |  | $ | 106,161 |  |  | $ | (497) |  |  | $ | 105,664 |  |  | $ | 105,329 |  |  | $ | (484) |  |  | $ | 104,845 |
Agenus (Bot/Bal) |  | 40,815 |  |  | (408) |  |  | 40,407 |  |  | 40,815 |  |  | (408) |  |  | 40,407 |
Tolerance Therapeutics (Tzield®) |  | 25,521 |  |  | (99) |  |  | 25,422 |  |  | 25,613 |  |  | (101) |  |  | 25,512 |
Ensifentrine inventors |  | 17,790 |  |  | (168) |  |  | 17,622 |  |  | 15,969 |  |  | (157) |  |  | 15,812 |
Elutia (CorMatrix) |  | 9,870 |  |  | (1,895) |  |  | 7,975 |  |  | 9,418 |  |  | (2,268) |  |  | 7,150 |
InvIOs |  | 1,286 |  |  | (64) |  |  | 1,222 |  |  | 1,238 |  |  | (62) |  |  | 1,176 |
Selexis |  | 175 |  |  | (77) |  |  | 98 |  |  | 205 |  |  | (58) |  |  | 147 |
Total financial royalty assets, net |  | $ | 201,618 |  |  | $ | (3,208) |  |  | $ | 198,410 |  |  | $ | 198,587 |  |  | $ | (3,538) |  |  | $ | 195,049 |
(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 current portion of financial royalty assets which represents an estimation for current quarter royalty receipts that are collected during the subsequent quarter. The current portion of financial royalty assets amounted to $10.1 million and $10.0 million were presented in other current assets on our condensed consolidated balance sheet as of March 31, 2025 and December 31, 2024, respectively.

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