Financial Royalty Assets, net (Tables)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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


	June 30, 2025						December 31, 2024
	Gross carrying value(2)		Allowance (1)		Net carrying value (2)		Gross carrying value(2)		Allowance (1)		Net carrying value
Qarziba	$	114,038	$	(530)	$	113,508	$	105,329	$	(484)	$	104,845
Agenus Bot/Bal (see Note 3)	40,815		(408)		40,407		40,815		(408)		40,407
Tolerance Therapeutics (Tzield®)	25,461		(99)		25,362		25,613		(101)		25,512
Ohtuvayre inventors	16,637		(156)		16,481		15,969		(157)		15,812
Elutia (CorMatrix)	8,087		(1,487)		6,600		9,418		(2,268)		7,150
InvIOs	1,396		(70)		1,326		1,238		(62)		1,176
Selexis	186		(38)		148		205		(58)		147
Total financial royalty assets, net	$	206,620	$	(2,788)	$	203,832	$	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 $10.3 million and $10.0 million were presented in a separate line on our condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024, respectively.