v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition

Net Revenue from Collaboration Arrangement

Net revenue recognized under our GSK Agreement was as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Royalties - RELVAR®/BREO®

 

$

47,655

 

 

$

54,737

 

 

$

94,931

 

 

$

105,627

 

Royalties - ANORO®

 

 

12,135

 

 

 

12,599

 

 

 

23,482

 

 

 

22,972

 

Total royalties

 

 

59,790

 

 

 

67,336

 

 

 

118,413

 

 

 

128,599

 

Less: amortization of capitalized fees paid

 

 

(3,456

)

 

 

(3,456

)

 

 

(6,912

)

 

 

(6,912

)

Total royalty revenue

 

$

56,334

 

 

$

63,880

 

 

$

111,501

 

 

$

121,687

 

 

Net Product Sales

Total net product sales were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

GIAPREZA®

 

$

22,299

 

 

$

17,329

 

 

$

42,530

 

 

$

35,602

 

XACDURO®

 

 

22,382

 

 

 

10,731

 

 

 

40,456

 

 

 

18,514

 

XERAVA®

 

 

6,739

 

 

 

7,094

 

 

 

9,367

 

 

 

11,317

 

ZEVTERA®

 

 

351

 

 

 

339

 

 

 

789

 

 

 

339

 

    Total net product sales

 

$

51,771

 

 

$

35,493

 

 

$

93,142

 

 

$

65,772

 

 

We derived our net product sales from customers located in the U.S. and the rest of world as follows:

•
approximately 71% and 29%, respectively, for the three months ended June 30, 2026, and 76% and 24%, respectively, for the six months ended June 30, 2026; and
•
approximately 82% and 18%, respectively, for the three months ended June 30, 2025, and 84% and 16%, respectively, for the six months ended June 30, 2025.

License and Other Revenue

Refer to the out-license agreements in Note 4, “License, Collaboration and Other Arrangements”.