Financial Royalty Assets, net (formerly known as Commercial License Rights) (Tables)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Financial Royalty Assets

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

	June 30, 2024						December 31, 2023
	Gross carrying value(2)		Allowance (1)		Net carrying value (2)		Gross carrying value		Allowance (1)		Net carrying value
Agenus (Bot/Bal)	$	40,815	$	(408)	$	40,407	$	—	$	—	$	—
Elutia (CorMatrix)	10,615		(2,915)		7,700		13,304		(7,490)		5,814
Selexis	290		(58)		232		940		(179)		761
Ovid (Soticlestat)	4,122		(41)		4,081		30,310		(303)		30,007
Tolerance Therapeutics (TZIELD)	25,755		(101)		25,654		25,810		(101)		25,709
Ensifentrine inventors	3,685		(111)		3,574		—		—		—
Total financial royalty assets, net	$	85,282	$	(3,634)	$	81,648	$	70,364	$	(8,073)	$	62,291

(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 $1.2 million current portion of financial royalty assets which represents an estimation for current quarter royalty receipts that are collected during the subsequent quarter. This portion is presented in other current assets on our condensed consolidated balance sheet as of June 30, 2024.