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Royalty Financing Obligations (Tables) | 3 Months Ended
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Mar. 31, 2024
Advance Royalties [Abstract] |
Schedule of Royalty Financing Obligations | The following table shows the royalty financing obligations activity for the three months ended March 31, 2024 (in thousands) as well as the effective interest rate as of March 31, 2024:
| 2020 RPI Royalty Agreement |  | 2021 RPI Royalty Agreement |  | OMERS Royalty Agreement |  | Total
Balance as of December 31, 2023 | $ | 174,480 |  |  | $ | 185,345 |  |  | $ | 171,774 |  |  | $ | 531,599 |
Non-cash Interest expense on Royalty financing obligations | 9,916 |  |  | — |  |  | 4,271 |  |  | 14,187 |
Royalty revenues paid and payable | (7,842) |  |  | (679) |  |  | (6,691) |  |  | (15,212) |
Balance as of March 31, 2024 | $ | 176,554 |  |  | $ | 184,666 |  |  | $ | 169,354 |  |  | $ | 530,574 |
Effective interest rate | 22.3 | % |  | — | % |  | 9.8 | % |  |

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