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v3.25.2

Castle Creek and Agenus Transactions (Details) $ / shares in Units, $ in Thousands |  |  | 6 Months Ended |
--- | --- | --- | --- | ---
Feb. 24, 2025 USD ($) | May 29, 2024 USD ($) $ / shares shares | Jun. 30, 2025 USD ($) | Jun. 30, 2024 USD ($) | Dec. 31, 2024 USD ($)
Asset Acquisition |  |  |  |  |
Cash paid for Palvella notes receivable |  |  | $ 0 | $ 2,500 |
Net carrying value |  |  | 203,832 |  | $ 195,049
Agenus, Inc. |  |  |  |  |
Asset Acquisition |  |  |  |  |
Net carrying value |  | $ 75,000 | 40,407 |  | $ 40,407
Royalties right to receive (as a percent) |  | 18.75% |  |  |
Maximum capital sourcing |  | $ 100,000 |  |  |
Maximum financing royalty asset |  | $ 200,000 |  |  |
Warrants term (in years) |  | 5 years |  |  |
Securities called by warrants (in shares) | shares |  | 867,052 |  |  |
Exercise price (in USD per share) | $ / shares |  | $ 17.3 |  |  |
Agenus, Inc. | BMS-986442 |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future milestones right to receive (as a percent) |  | 31.875% |  |  |
Agenus, Inc. | AGEN2373 |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future milestones right to receive (as a percent) |  | 31.875% |  |  |
Agenus, Inc. | INCAGN2385 |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future milestones right to receive (as a percent) |  | 31.875% |  |  |
Agenus, Inc. | INCAGN2390 |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future milestones right to receive (as a percent) |  | 31.875% |  |  |
Agenus, Inc. | MK-4830 |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future milestones right to receive (as a percent) |  | 31.875% |  |  |
Agenus, Inc. | UGN-301 |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future milestones right to receive (as a percent) |  | 31.875% |  |  |
Agenus, Inc. | BOT/BAL |  |  |  |  |
Asset Acquisition |  |  |  |  |
Future royalties (as a percent) |  | 2.625% |  |  |
Agenus Partnered Program |  |  |  |  |
Asset Acquisition |  |  |  |  |
Additional maximum investment |  | $ 25,000 |  |  |
Castle Creek Investment |  |  |  |  |
Asset Acquisition |  |  |  |  |
Payments to acquire productive assets | $ 50,000 |  | 50,100 |  |
Receivable with imputed interest, face amount | 8,300 |  |  |  |
Cash paid for Palvella notes receivable | $ 1,800 |  |  |  |
Payments for repurchase of warrants |  |  | 5,800 |  |
Recognized research and development expense |  |  | $ 44,300 |  |
Castle Creek Investment | Option Volatility |  |  |  |  |
Asset Acquisition |  |  |  |  |
Derivative liability, measurement input | 1.10 |  |  |  |
Castle Creek Investment | Risk Free Interest Rate |  |  |  |  |
Asset Acquisition |  |  |  |  |
Derivative liability, measurement input | 0.042 |  |  |  |
Purchasers | Castle Creek Investment |  |  |  |  |
Asset Acquisition |  |  |  |  |
Payments to acquire productive assets | $ 75,000 |  |  |  |
Other Purchasers | Castle Creek Investment |  |  |  |  |
Asset Acquisition |  |  |  |  |
Payments to acquire productive assets | $ 25,000 |  |  |  |

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