The following table shows the activity within the liability account for the nine-month period ended September 30, 2025 and year ended December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2025 | | Twelve Months Ended
December 31, 2024 | | Royalty Financing Agreement liability - beginning balance | | $ | 163,671 | | | $ | 158,162 | | | Revenue Interest Payments paid and payable | | (12,950) | | | (14,535) | | | Interest expense recognized | | 15,344 | | | 20,044 | | | Royalty Financing Agreement liability - ending balance | | $ | 166,065 | | | $ | 163,671 | | | | | | | | Royalty issuance costs, unamortized - beginning balance | | $ | (2,604) | | | $ | (3,128) | | | Amortization of issuance costs | | 393 | | | 524 | | | | | | | | Royalty issuance costs, unamortized - ending balance | | $ | (2,211) | | | $ | (2,604) | | | Royalty Financing Agreement | | $ | 163,854 | | | $ | 161,067 | |
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