v3.26.1
Balance Sheet Components
 6 Months Ended
Jun. 30, 2026
Balance Sheet Components [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consists of the following (in thousands):
June 30,
2026		December 31,
2025
Raw materials$2,613 $2,898 
Work in progress20,139 18,473 
Finished goods3,017 3,516 
Total inventory$25,769 $24,887 
Intangible Assets, Net
The components of the Company’s intangible assets were as follows (in thousands, except for weighted-average remaining amortization period):
June 30, 2026
Gross Carrying Value
Accumulated Amortization
Net Carrying Amount
Weighted-Average Remaining Amortization Period (Years)
Commercial milestones$94,000 $(15,527)$78,473 11.1
Developed technology226,620 (57,759)168,861 9.3
Assembled workforce970 (916)54 0.2
Total intangible assets$321,590 $(74,202)$247,388 9.8
December 31, 2025
Gross Carrying Value
Accumulated Amortization
Net Carrying Amount
Weighted-Average Remaining Amortization Period (Years)
Commercial milestones$94,000 $(11,660)$82,340 11.5
Developed technology226,620 (48,255)178,365 9.7
Assembled workforce970 (754)216 0.7
Total intangible assets$321,590 $(60,669)$260,921 10.3
Amortization expense was $6.7 million and $13.5 million for the three and six months ended June 30, 2026, respectively, and $5.9 million and $11.9 million for the three and six months ended June 30, 2025, respectively. Amortization expense was included in cost of sales in the accompanying unaudited condensed consolidated statements of operations. The following table summarizes the estimated future amortization expense associated with the Company’s intangible assets as of June 30, 2026 (in thousands):
Amount
2026 (remaining six months)$13,425 
202726,742 
202826,742 
202926,742 
203026,742 
Thereafter126,995 
$247,388 
Accrued Expenses
Accrued expenses consist of the following (in thousands):
June 30,
2026		December 31,
2025
Accrued sales deductions and other$62,501 $51,375 
Accrued compensation and related benefits28,389 47,276 
Accrued clinical trials22,872 13,959 
Accrued professional service fees21,886 17,292 
Accrued contract manufacturing and non-clinical costs17,670 8,721 
Accrued royalties payable16,204 16,208 
Operating lease liabilities, current2,405 2,139 
Accrued loss on firm purchase commitments2,107 2,107 
Accrued interest527 2,108 
Accrued milestone payment— 35,000 
Total accrued expenses and other current liabilities$174,561 $196,185 
Other liabilities
Other liabilities consist of the following (in thousands):
June 30,
2026		December 31,
2025
Noncurrent accrued sales deductions$8,882 $3,586 
Noncurrent accrued loss on firm purchase commitments1,425 1,425 
Other610 — 
Total other liabilities$10,917 $5,011