v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 570,388 $ 550,941
Accounts receivable 50,826 34,966
Receivable from collaboration arrangement 59,790 58,351
Inventory 38,968 39,172
Prepaid expenses 24,413 26,721
Current portion of ISP Fund investments 8,668 15,727
Other current assets 313 1,637
Total current assets 753,366 727,515
Property and equipment, net 2,133 1,555
Equity method investments 219,542 193,726
Equity and long-term investments 441,308 404,497
Capitalized fees paid, net 49,226 56,138
Right-of-use assets 10,377 10,929
Goodwill 17,905 17,905
Intangible assets 168,976 182,156
Other assets 39,894 40,744
Total assets 1,702,727 1,635,165
Current liabilities:    
Accounts payable 4,016 4,966
Accrued personnel-related expenses 6,802 9,100
Accrued interest payable 1,618 1,618
Deferred revenue 6,015 4,270
Income tax payable 0 274
Other accrued liabilities 28,613 29,468
Total current liabilities 47,064 49,696
Long-term debt, net of discount and issuance costs 258,454 257,731
Other long-term liabilities 67,276 66,091
Deferred tax liabilities, net 36,739 31,793
Income tax payable, long-term 59,932 57,013
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, 72,637 and 74,636 issued and outstanding as of June 30, 2026 and December 31,2025, respectively 727 747
Additional paid-in capital 859,992 902,726
Retained earnings 372,543 269,368
Total stockholders' equity 1,233,262 1,172,841
Total liabilities and stockholders' equity $ 1,702,727 $ 1,635,165