A summary of financial information related to the HCR Agreement is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Non-cash interest expense related to the sale of future royalties | $ | (1,267) | | | $ | (2,219) | | | $ | (2,584) | | | $ | (4,290) | | | | | | | | | |
| | | | | | | | | | | | | ($ in thousands) | 2026 | | 2025 | Deferred royalty obligation balance as of January 1, | $ | 25,876 | | | $ | 25,527 | | | | | | | Non-cash interest expense related to the sale of future royalties | 2,584 | | | 4,290 | | | Royalty and commercialization milestone payments remitted to HCR | (2,143) | | | (2,056) | | | Deferred royalty obligation balance as of June 30, | $ | 26,317 | | | $ | 27,761 | | | Effective interest rate as of June 30, | 19.6 | % | | 33.5 | % |
|