Subsequent Event |
6 Months Ended |
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Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Note 17. Subsequent Event On June 8, 2026, we entered into an agreement with Star Therapeutics LLC (“Star”) to acquire Vega Therapeutics, Inc. (“Vega”), a wholly owned subsidiary of Star. We completed the acquisition of Vega on July 6, 2026. Vega is a clinical-stage drug development company developing novel antibody therapies for rare blood disorders, focusing on von Willebrand disease. Based on the terms of the agreement, we acquired Vega for cash consideration of $1.25 billion, with up to $750.0 million in additional payments due to Star upon achievement of specified sales milestones. We expect to account for the acquisition as an asset acquisition, as substantially all of the fair value of the assets acquired is concentrated in a single in-process research and development asset. We expect to allocate substantially all of the upfront consideration to the in-process research and development asset and to record the expense within Research and development expense in our condensed consolidated statements of operations during the third quarter of 2026.
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