| Schedule of Deferred Royalty Obligations, Net |
The carrying value balances of our deferred royalty obligations, net under the Funding Agreement and the Royalty Purchase Agreement consisted of the following: | | | | | | | | | | | | | | | | | | | September 30, 2026 | | Funding Agreement | | Royalty Purchase
Agreement | | Total | | | | | | | | (in thousands) | | Carrying value of deferred royalty obligations, net | $ | 605,351 | | | $ | 308,542 | | | $ | 913,893 | | | Fair value of embedded derivative liability | 14,341 | | | — | | | 14,341 | | | Unamortized debt discount and issuance costs | (42,072) | | | (2,109) | | | (44,181) | | | Deferred royalty obligations, net | $ | 577,620 | | | $ | 306,433 | | | $ | 884,053 | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | Funding Agreement | | Royalty Purchase
Agreement (1) | | Total | | | | | | | | (in thousands) | | Carrying value of deferred royalty obligations, net | $ | 581,759 | | | $ | 309,629 | | | $ | 891,388 | | | Fair value of embedded derivative liability | 21,439 | | | — | | | 21,439 | | | Unamortized debt discount and issuance costs | (55,143) | | | (2,654) | | | (57,797) | | | Deferred royalty obligations, net | $ | 548,055 | | | $ | 306,975 | | | $ | 855,030 | |
(1)Including related party amounts of $206,419 for the carrying value of deferred royalty obligations, net and $(1,769) for the unamortized debt discount and issuance costs as of December 31, 2025.
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