The Company enters into collaborative arrangements for the research and development, manufacture and/or commercialization of drug products and drug candidates. To date, these collaborative arrangements have included out-licenses of and options to out-license internally developed products and drug candidates to other parties, in-licenses of products and drug candidates from other parties, and profit- and cost-sharing arrangements. These arrangements may include non-refundable upfront payments, contingent obligations for potential development, regulatory and commercial performance milestone payments, cost-sharing and reimbursement arrangements, royalty payments, and profit sharing. For detailed descriptions of each arrangement, see the Company’s Annual Report.

For the three months ended March 31, 2026 and 2025, the Company’s other revenue consisted primarily of royalty revenue from IMDELLTRA® sales outside of China under the Amgen collaboration agreement and revenue generated under the Novartis broad markets agreement.


	Three Months Ended
	March 31,
	2026	2025
Other Revenue	$	$
Amgen royalty revenue	18,297	5,519
Novartis broad markets revenue	5,263	3,522
Other	2,549	(292)
Other Revenue	26,109	8,749

During the three months ended March 31, 2026 and 2025, the Company recorded the following amounts related to its collaboration arrangement with Amgen. For a detailed description of the arrangement and related rights and obligations, see the Company’s Annual Report. The Company is still in the commercialization period for XGEVA®, KYPROLIS® and BLINCYTO® in China.

Amounts recorded related to the Company’s portion of the co-development funding on the pipeline assets for the three months ended March 31, 2026 and 2025 were as follows:


	Three Months Ended
	March 31,
	2026	2025
	$	$
BeOne’s portion of the development funding	58,048	40,519
Less: Amortization of research and development cost share liability	28,645	19,812
Research and development expense	29,403	20,707

		As of
		March 31, 2026
		$
Remaining portion of development funding cap		72,346


	As of
	March 31,	December 31,
	2026	2025
	$	$
Research and development cost share liability, current portion	35,700	64,345

Total research and development cost share liability	35,700	64,345

The total reimbursement paid under the commercial profit-sharing agreement for product sales is classified in the income statement for the three months ended March 31, 2026 and 2025 as follows:


	Three Months Ended
	March 31,
	2026	2025
	$	$
Cost of sales - product	11,253	7,494
Research and development	(193)	(512)
Selling, general and administrative	(26,442)	(23,948)
Total	(15,382)	(16,966)

The Company purchases commercial inventory from Amgen to distribute in China. Inventory purchases amounted to $123,691 and $62,744 during the three months ended March 31, 2026 and 2025, respectively. Net amounts payable to Amgen was $135,273 and $79,097 as of March 31, 2026 and December 31, 2025, respectively.

The Company has in-licensed the rights to develop, manufacture and, if approved, commercialize multiple development stage drug candidates globally or in specific territories. These arrangements typically include non-refundable upfront payments, contingent obligations for potential development, regulatory and commercial performance milestone payments, cost-sharing arrangements, royalty payments, and profit sharing.

Upfront and milestone payments incurred under these arrangements for the three months ended March 31, 2026 and 2025 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
		March 31,
		2026	2025
Payments due to collaboration partners	Classification	$	$
Upfront payments	Research and development expense	544	—


Total		544	—