Royalty Pharma plc (RPRX): restructuring charge — Royalty Pharma records $273.6M impairment on gantenerumab royalty after Roche halts trials

Royalty Pharma plc

Non-cash impairment charge of $273.6M related to gantenerumab financial royalty asset.
Roche discontinued gantenerumab trials Nov 30, 2022 after GRADUATE I/II missed primary endpoint.
Impairment reflects entire net carrying value as of Sept 30, 2022; no impact on non-GAAP results.
No portion of the charge relates to future cash expenditures.
Charge will be recorded in Q4 2022 under GAAP.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Royalty Pharma plc announced a impairment with charges of $273.6 million affecting financial royalty asset associated with gantenerumab.

Type: impairment
Charge: $273.6 million
Affected area: financial royalty asset associated with gantenerumab

Exact text from the filing

endpoint of slowing clinical decline, which led the Company to conclude its financial royalty asset is impaired. The Company expects that the non-cash impairment charge will be $273.6 million, which was the net carrying value of the asset as of September 30, 2022. No portion of the impairment charge relates to future cash expenditures. SIGNATURES Pursuant to the

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Source: SEC EDGAR

accession 0001193125-22-296619

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