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Deferred royalty obligation
 9 Months Ended
Sep. 30, 2025
Other Liabilities Disclosure [Abstract]  
Deferred royalty obligation Deferred royalty obligation
On August 25, 2021, the Company entered into a royalty purchase agreement with certain entities managed by HCR for up to $325.0 million. Under the terms of the agreement, the Company received gross proceeds of $225.0 million upon closing (the “First Investment Amount”) and received an additional $75.0 million during the year ended December 31, 2023 upon the first commercial sale of ZYNLONTA in the United Kingdom or any European Union country (the “Second Investment Amount”) and together with the First Investment Amount, the “Investment Amount”).
The table below provides a rollforward of the Company’s debt obligation relating to the royalty purchase agreement.
(in thousands)
Liability balance at January 1, 2024$309,613 
Less: royalty payments5,384 
Plus: interest expense33,608 
Less: cumulative catch-up adjustment, Other, net11,178 
Liability balance at December 31, 2024326,659 
Less: royalty payments4,816 
Plus: interest expense26,164 
Less: cumulative catch-up adjustment, Other, net517 
Liability balance at September 30, 2025$347,490