v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,019,654 $ 966,428
Marketable debt securities 1,605,368 1,719,920
Marketable equity securities 7,200 8,156
Accounts receivable, net 418,035 405,308
Inventory 65,581 78,509
Prepaid expenses and other current assets 152,420 116,964
Total current assets 3,268,258 3,295,285
Property, plant and equipment, net 498,684 502,784
Operating lease right-of-use assets 197,233 191,148
Deferred tax assets 107,224 116,863
Restricted investments 68,592 68,593
Other assets 73,820 65,310
Total assets 4,213,811 4,239,983
Current liabilities:    
Accounts payable 97,399 88,415
Accrued expenses 704,165 793,692
Operating lease liabilities 46,011 41,886
Deferred revenue 28,160 55,481
Liability related to the sale of future royalties 81,793 113,018
Development derivative liability 118,095 93,780
Total current liabilities 1,075,623 1,186,272
Operating lease liabilities, net of current portion 230,061 229,541
Convertible debt 1,025,566 1,024,621
Liability related to the sale of future royalties, net of current portion 1,338,821 1,334,353
Development derivative liability, net of current portion 422,434 393,139
Other liabilities 5,871 4,969
Total liabilities 4,098,376 4,172,895
Commitments and contingencies (Note 12)
Stockholders' equity:    
Preferred stock, $0.01 par value per share, 5,000 shares authorized and no shares issued and outstanding as of March 31, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value per share, 250,000 shares authorized; 130,311 shares issued and outstanding as of March 31, 2025; 129,294 shares issued and outstanding as of December 31, 2024 1,303 1,293
Additional paid-in capital 7,496,876 7,388,061
Accumulated other comprehensive loss (37,517) (34,518)
Accumulated deficit (7,345,227) (7,287,748)
Total stockholders' equity 115,435 67,088
Total liabilities and stockholders' equity $ 4,213,811 $ 4,239,983