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Revenue | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The table below provides a disaggregation of revenues by type and customer location for the three and nine months ended September 30, 2025 and 2024:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Types of goods and services |  |  |  |  |  |  |  |
Product revenues, net |  | $ | 15,750 |  |  | $ | 18,016 |  |  | $ | 51,239 |  |  | $ | 52,894 |
License revenues |  | — |  |  | — |  |  | 5,000 |  |  | — |
Royalties |  | 677 |  |  | 448 |  |  | 2,060 |  |  | 1,033 |
Total revenue |  | $ | 16,427 |  |  | $ | 18,464 |  |  | $ | 58,299 |  |  | $ | 53,927 |
Customer Location |  |  |  |  |  |  |  |
U.S. |  | $ | 15,750 |  |  | $ | 18,016 |  |  | $ | 51,239 |  |  | $ | 52,894 |
EMEA(1) |  | 677 |  |  | 448 |  |  | 7,060 |  |  | 1,033 |
Total revenue |  | $ | 16,427 |  |  | $ | 18,464 |  |  | $ | 58,299 |  |  | $ | 53,927 |
(1) Europe, the Middle East and Africa Product revenues, net The table below provides a rollforward of the Company’s accruals related to the gross-to-net (“GTN”) sales adjustments for the three and nine months ended September 30, 2025:
(in thousands) |  | Discarded Drug Rebate |  | Other Adjustments |  | Total
Balance as of June 30, 2025 |  | $ | 11,692 |  |  | $ | 2,490 |  |  | $ | 14,182 |
GTN accruals for current period |  | 1,547 |  |  | 3,641 |  |  | 5,188 |
Prior period adjustments |  | (545) |  |  | (235) |  |  | (780) |
Credits, payments and reclassifications |  | — |  |  | (3,810) |  |  | (3,810) |
Balance as of September 30, 2025 |  | $ | 12,694 |  |  | $ | 2,086 |  |  | $ | 14,780 |
Balance as of December 31, 2024 |  | $ | 15,103 |  |  | $ | 2,386 |  |  | $ | 17,489 |
GTN accruals for current period |  | 5,516 |  |  | 11,651 |  |  | 17,167 |
Prior period adjustments |  | (745) |  |  | (808) |  |  | (1,553) |
Credits, payments and reclassifications |  | (7,180) |  |  | (11,143) |  |  | (18,323) |
Balance as of September 30, 2025 |  | $ | 12,694 |  |  | $ | 2,086 |  |  | $ | 14,780 |
The table below provides a rollforward of the Company’s accruals related to the gross-to-net (“GTN”) sales adjustments for the three and nine months ended September 30, 2024:
(in thousands) |  | Discarded Drug Rebate |  | Other Adjustments |  | Total
Balance as of June 30, 2024 |  | $ | 11,251 |  |  | $ | 3,257 |  |  | $ | 14,508 |
GTN accruals for current period |  | 2,051 |  |  | 4,436 |  |  | 6,487 |
Prior period adjustments |  | — |  |  | (378) |  |  | (378) |
Credits, payments and reclassifications |  | — |  |  | (4,224) |  |  | (4,224) |
Balance as of September 30, 2024 |  | $ | 13,302 |  |  | $ | 3,091 |  |  | $ | 16,393 |
Balance as of December 31, 2023 |  | $ | 7,391 |  |  | $ | 3,946 |  |  | $ | 11,337 |
GTN accruals for current period |  | 5,955 |  |  | 12,653 |  |  | 18,608 |
Prior period adjustments |  | (44) |  |  | (1,398) |  |  | (1,442) |
Credits, payments and reclassifications |  | — |  |  | (12,110) |  |  | (12,110) |
Balance as of September 30, 2024 |  | $ | 13,302 |  |  | $ | 3,091 |  |  | $ | 16,393 |
The table below provides the classification of the accruals related to the GTN sales adjustment included in the Company’s unaudited condensed consolidated balance sheets as of September 30, 2025 and December 31, 2024.
(in thousands) |  | September 30, 2025 |  | December 31, 2024
Accounts receivable, net |  | $ | 1,516 |  |  | $ | 1,792 |
Other current and non-current liabilities |  | 13,264 |  |  | 15,697 |
|  | $ | 14,780 |  |  | $ | 17,489 |
Customers from which we derive more than 10% of our total product revenues for the three and nine months ended September 30, 2025 and 2024 are as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
McKesson |  | 45 | % |  | 39 | % |  | 40 | % |  | 40 | %
AmerisourceBergen Corporation(1) |  | 36 | % |  | 35 | % |  | 39 | % |  | 36 | %
Cardinal Health |  | 19 | % |  | 26 | % |  | 21 | % |  | 24 | %
(1) AmerisourceBergen also operates under the name Cencora. License revenues The Company is party to an exclusive license agreement with Sobi for the development and commercialization of ZYNLONTA for all hematologic and solid tumor indications outside of the U.S., greater China, Singapore and Japan. Under the terms of the agreement, the Company is eligible to receive regulatory and net sales-based milestones. In March 2025, the Company recognized $5.0 million in license revenue upon ZYNLONTA’s conditional approval by Health Canada for the treatment of relapsed or refractory DLBCL after two or more lines of systemic therapy. The payment was received in the second quarter of 2025.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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