v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 319,090 $ 304,964
Accounts receivable 16,673 20,392
Receivables from collaboration arrangement 61,263 65,974
Inventory 41,479 33,725
Prepaid expenses 15,414 21,063
Current portion of ISP Fund investments 127,790 107,532
Other current assets 313 656
Total current assets 582,022 554,306
Property and equipment, net 483 514
Equity method investments 38,744 52,293
Equity and long-term investments 291,100 341,664
Capitalized fees paid, net 66,505 69,961
Right-of-use assets 2,110 2,453
Goodwill 17,905 17,905
Intangible assets 201,958 208,433
Deferred tax assets, net 12,294 12,054
Other assets 41,269 41,477
Total assets 1,254,390 1,301,060
Current liabilities:    
Accounts payable 4,700 2,132
Accrued personnel-related expenses 3,789 7,376
Accrued interest payable 833 3,422
Deferred revenue 1,002 1,126
Convertible subordinated notes due 2025, net of issuance costs 192,215 192,028
Income Taxes Payable 1,542 0
Other accrued liabilities 30,664 29,999
Total current liabilities 234,745 236,083
Long-term debt, net of discount and issuance costs 256,670 256,316
Other long-term liabilities 62,009 64,275
Income tax payable, long-term 54,061 53,227
Commitments and contingencies (Note 12)
Stockholders' equity:    
Preferred stock: $0.01 par value, 230 shares authorized, no shares issued and outstanding 0 0
Common stock: $0.01 par value, 200,000 shares authorized, 62,771 and 62,665 issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 628 627
Additional paid-in capital 694,658 692,329
Accumulated deficit (48,381) (1,797)
Total stockholders' equity 646,905 691,159
Total liabilities and stockholders' equity $ 1,254,390 $ 1,301,060