Schedule of Royalty Financing Obligations |
The following table shows the activity within the Royalty financing obligations account (in thousands) as well as the effective interest rate as of December 31, 2023: | | | | | | | | | | | | | | | | | | | | | | | | | 2020 RPI Royalty Agreement | | 2021 RPI Royalty Agreement | | OMERS Royalty Agreement | | Total | Balance as of December 31, 2020 | $ | 124,717 | | $ | — | | $ | — | | $ | 124,717 | | 2021 Royalty sale: Royalty financing obligations, net of issuance costs | — | | 150,833 | | 147,309 | | 298,142 | | Non-cash Interest expense on Royalty financing obligations | 33,308 | | 2,897 | | 1,465 | | 37,670 | | Royalty revenues paid and payable | (10,801) | | (353) | | — | | (11,154) | | Balance as of December 31, 2021 | $ | 147,224 | | $ | 153,377 | | $ | 148,774 | | $ | 449,375 | | Deferred financing costs | — | | | (34) | | | — | | | (34) | | Non-cash Interest expense on Royalty financing obligations | 39,994 | | | 22,239 | | | 14,249 | | | 76,482 | | Royalty revenues paid and payable | (22,237) | | | (1,931) | | | — | | | (24,168) | | Balance as of December 31, 2022 | $ | 164,981 | | | $ | 173,651 | | | $ | 163,023 | | | $ | 501,655 | | Non-cash Interest expense on Royalty financing obligations | 38,267 | | | 14,188 | | | 17,901 | | | 70,356 | | Royalty revenues paid and payable | (28,768) | | | (2,494) | | | (9,150) | | | (40,412) | | Balance as of December 31, 2023 | $ | 174,480 | | | $ | 185,345 | | | $ | 171,774 | | | $ | 531,599 | | | | | | | | | | Effective interest rate | 22.3 | % | | — | % | | 10.0 | % | | |
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