Collaborative and Licensing Arrangements (Tables)

6 Months Ended

Jun. 30, 2025

The following table summarizes total collaboration revenue recognized for the three and six months ended June 30, 2025 and 2024:


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025	2024	2025	2024
Revenue from collaborators	$	$	$	$
Amgen royalty revenue	9,033	836	14,552	836
Novartis broad markets revenue	3,320	4,154	6,842	8,501
Other	871	3,030	579	3,417
Revenue from collaborators	13,224	8,020	21,973	12,754

The table below presents the Company’s net product revenue for the three and six months ended June 30, 2025 and 2024.


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025	2024	2025	2024
	$	$	$	$
Product revenue – gross	1,657,838	1,167,155	3,057,904	2,111,619
Less: Rebates and sales returns	(355,762)	(246,009)	(647,298)	(443,555)
Product revenue – net	1,302,076	921,146	2,410,606	1,668,064

The following table disaggregates net product revenue by product for the three and six months ended June 30, 2025 and 2024:


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025	2024	2025	2024
	$	$	$	$
BRUKINSA®	949,840	637,399	1,741,504	1,125,914
TEVIMBRA®	193,524	158,410	364,688	303,687
XGEVA®	81,318	55,054	151,741	98,435
BLINCYTO®	25,587	19,131	49,493	33,497
KYPROLIS®	19,416	15,936	39,144	30,047
POBEVCY®	11,242	11,572	24,987	28,205
Other	21,149	23,644	39,049	48,279
Total product revenue – net	1,302,076	921,146	2,410,606	1,668,064

Schedule of Collaboration Agreements

Amounts recorded related to the Company’s portion of the co-development funding on the pipeline assets for the three and six months ended June 30, 2025 and 2024 were as follows:


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025	2024	2025	2024
	$	$	$	$
BeOne’s portion of the development funding	52,196	44,385	92,715	71,005
Less: Amortization of research and development cost share liability	25,757	21,903	45,569	35,039
Research and development expense	26,439	22,482	47,146	35,966

				As of
				June 30, 2025
				$
Remaining portion of development funding cap				242,916

As of June 30, 2025 and December 31, 2024, the research and development cost share liability recorded in the Company’s balance sheet was as follows:


	As of
	June 30,	December 31,
	2025	2024
	$	$
Research and development cost share liability, current portion	108,992	111,154
Research and development cost share liability, non-current portion	10,879	54,286
Total research and development cost share liability	119,871	165,440

Schedule of Amounts and Classification of Reimbursement Expense

The total reimbursement paid under the commercial profit-sharing agreement for product sales is classified in the income statement for the three and six months ended June 30, 2025 and 2024 as follows:


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025	2024	2025	2024
	$	$	$	$
Cost of sales - product	9,533	9,590	17,027	18,159
Research and development	(1,597)	(439)	(2,109)	(1,144)
Selling, general and administrative	(25,037)	(21,100)	(48,985)	(39,253)
Total	(17,101)	(11,949)	(34,067)	(22,238)

Schedule of Payments Due to Collaboration Partners

Upfront and milestone payments incurred under these arrangements for the three and six months ended June 30, 2025 and 2024 are set forth below. All upfront and development milestones were expensed to research and development expense. All regulatory and commercial milestones were capitalized as intangible assets and are being amortized over the remainder of the respective product patent or term of the commercialization agreements.


		Three Months Ended		Six Months Ended
		June 30,		June 30,
		2025	2024	2025	2024
Payments due to collaboration partners	Classification	$	$	$	$
Upfront payments	Research and development expense	500	—	500	27
Development milestones incurred	Research and development expense	—	11,500	—	46,500
Regulatory and commercial milestone payments	Intangible asset	20,000	—	20,000	—
Total		20,500	11,500	20,500	46,527