The following table shows the activity within the liability account of the arrangement (in thousands):
Period from inception to March 31, 2026
Amount
Proceeds from royalty obligation
$
75,000
Issuance costs
(3,691)
Interest expense related to royalty obligation
13,591
Royalty obligation as of March 31, 2026
84,900
Effective interest rate
32.3%
No definition available.
Tabular disclosure of activity of royalty obligation