License Agreements |
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| License Agreements | 4. License Agreements In prior periods, we entered into license agreements with Berlin-Chemie AG, an affiliate of the Menarini Group (“Menarini”), and Antengene Therapeutics Limited (“Antengene”), both of which are accounted for within the scope of Accounting Standards Codification 606, Revenue from Contracts with Customers. For further details on the terms and accounting treatment considerations for these contracts, please refer to Note 5, “License Agreements,” to our consolidated financial statements contained in Item 8 of our Annual Report. The following table presents information about our license and other revenue (in thousands):
During the three months ended June 30, 2026, we recognized $1.8 million of royalty revenue from Menarini and $0.7 million of royalty revenue from Antengene.
During the three months ended June 30, 2025, we recognized $6.5 million of revenue for the reimbursement of development-related expenses and $1.0 million of royalty revenue from Menarini. We also recognized $0.5 million of royalty revenue from Antengene.
During the six months ended June 30, 2026, we recognized $3.2 million of royalty revenue from Menarini, $1.2 million of royalty revenue from Antengene, and $3.5 million of milestone revenue under a licensing agreement with a privately-held biotech company related to the research, development and commercialization of verdinexor for the treatment of cancer in certain animals.
During the six months ended June 30, 2025, we recognized $13.5 million of revenue for the reimbursement of development-related expenses and $1.9 million of royalty revenue from Menarini. We also recognized $1.1 million of royalty revenue from Antengene.
License and other revenue of $2.7 million and $3.5 million were included in accounts receivable as of June 30, 2026 and December 31, 2025, respectively. |
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