v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 350,065 $ 372,260
Short-term investments 1,704,520 2,305,176
Contracts receivable 58,845 66,059
Inventories 50,833 10,048
Other current assets 327,011 237,092
Total current assets 2,491,274 2,990,635
Property, plant and equipment, net 155,131 123,048
Right-of-use assets 231,560 238,549
Deposits and other assets 116,536 171,604
Total assets 2,994,501 3,523,836
Current liabilities:    
Accounts payable 47,704 28,082
Accrued compensation 50,293 116,236
Accrued liabilities 115,778 106,089
Income taxes payable 2,877 2,713
0 percent convertible senior notes due April 2026, net 0 431,948
Current portion of deferred contract revenue 73,837 73,761
Other current liabilities 25,149 22,738
Total current liabilities 315,638 781,567
Long-term deferred contract revenue 63,030 92,001
Liability related to sale of future royalties, net 562,574 551,353
Long-term lease liabilities 262,476 262,383
Long-term obligations 28,435 28,118
Total liabilities 2,554,764 3,034,747
Stockholders’ equity:    
Common stock, $0.001 par value; 300,000,000 shares authorized, 165,636,792 and 163,304,875 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 166 163
Additional paid-in capital 3,311,837 3,145,402
Accumulated other comprehensive loss (33,897) (25,281)
Accumulated deficit (2,838,369) (2,631,195)
Total stockholders' equity 439,737 489,089
Total liabilities and stockholders’ equity 2,994,501 3,523,836
0% Notes due 2030 [Member]    
Current liabilities:    
Convertible senior notes, net 753,356 751,495
1.75% Notes due 2028 [Member]    
Current liabilities:    
Convertible senior notes, net $ 569,255 $ 567,830