| Other income (expense) |
Other income (expense) Interest Expense The components of interest expense for the three and six months ended June 30, 2026 and 2025 are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in thousands) | | | | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | | | | Deferred royalty obligation interest expense | | | | | | | | $ | 9,125 | | | $ | 8,723 | | | $ | 17,852 | | | $ | 17,168 | | | Effective interest expense on senior secured term loan facility | | | | | | | | 4,383 | | | 4,274 | | | 8,005 | | | 8,059 | | | | | | | | | | | | | | | | | | Interest expense | | | | | | | | $ | 13,508 | | | $ | 12,997 | | | $ | 25,857 | | | $ | 25,227 | |
Other, net
The components of Other, net for the three and six months ended June 30, 2026 and 2025 are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in thousands) | | | | 2026 | | 2025 | | 2026 | | 2025 | | HCR warrant obligation, change in fair value income | | | | $ | 14,367 | | | $ | — | | | $ | 16,594 | | | $ | — | | | Cumulative catch-up adjustment, deferred royalty obligation | | | | 6,329 | | | 184 | | | 6,401 | | | 196 | | | Exchange differences gain (loss) | | | | (120) | | | (847) | | | 213 | | | (937) | | | R&D tax credit | | | | (38) | | | 481 | | | (38) | | | 762 | | | Other, net | | | | $ | 20,538 | | | $ | (182) | | | $ | 23,170 | | | $ | 21 | |
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