| Schedule of Financial Royalty Assets |
Financial royalty assets consist of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | | Gross carrying value(1) | | Allowance | | Net carrying value (1) | | Gross carrying value(1) | | Allowance | | Net carrying value(1) | | Ojemda | | $ | 240,804 | | | $ | (1,175) | | | $ | 239,629 | | | $ | — | | | $ | — | | | $ | — | | | Vabysmo | | 132,937 | | | (630) | | | 132,307 | | | — | | | — | | | — | | | Qarziba | | 98,845 | | | (445) | | | 98,400 | | | 118,593 | | | (498) | | | 118,095 | | | Agenus Bot/Bal | | 40,815 | | | (408) | | | 40,407 | | | 40,815 | | | (408) | | | 40,407 | | | Miplyffa | | 40,164 | | | (775) | | | 39,389 | | | — | | | — | | | — | | | Volixibat | | 38,400 | | | (384) | | | 38,016 | | | — | | | — | | | — | | | Osavampator | | 30,800 | | | (308) | | | 30,492 | | | — | | | — | | | — | | | REC-4881 | | 30,700 | | | (307) | | | 30,393 | | | — | | | — | | | — | | Tolerance Therapeutics (Tzield®) | | 25,919 | | | (101) | | | 25,818 | | | 25,257 | | | (98) | | | 25,159 | | | Ryjunea | | 22,990 | | | (230) | | | 22,760 | | | — | | | — | | | — | | | Ohtuvayre inventors | | 21,160 | | | (193) | | | 20,967 | | | 16,921 | | | (151) | | | 16,770 | | | Twist programs | | 20,500 | | | (1,435) | | | 19,065 | | | — | | | — | | | — | | | Oak Hill programs | | 10,900 | | | (545) | | | 10,355 | | | — | | | — | | | — | | | Primrose | | 6,900 | | | (207) | | | 6,693 | | | 3,281 | | | (98) | | | 3,183 | | | Vidutolimod | | 6,300 | | | (31) | | | 6,269 | | | — | | | — | | | — | | | D-Fi | | 6,000 | | | (300) | | | 5,700 | | | — | | | — | | | — | | | Ixinity | | 5,629 | | | (103) | | | 5,526 | | | — | | | — | | | — | | | AT220 | | 3,990 | | | (107) | | | 3,883 | | | 5,132 | | | (132) | | | 5,000 | | | Elutia (CorMatrix) | | 4,071 | | | (496) | | | 3,575 | | | 6,607 | | | (1,107) | | | 5,500 | | | Others | | 21,416 | | | (946) | | | 20,470 | | | 5,769 | | | (214) | | | 5,555 | | | Total financial royalty assets, net | | $ | 809,240 | | | $ | (9,126) | | | $ | 800,114 | | | $ | 222,375 | | | $ | (2,706) | | | $ | 219,669 | |
(1) The amounts include the short-term portion of financial royalty assets, which represents an estimate for royalty receipts earned as of the reporting date expected to be collected in the subsequent quarter.
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