v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,006,702 $ 174,927
Short-term investments 351,056 558,594
Accounts receivable, net 67,011 59,601
Inventory 10,263 9,126
Short-term portion of financial royalty assets, net 12,982 22,792
Income taxes receivable 2,911 1,446
Other current assets 6,191 5,785
Total current assets 1,457,116 832,271
Intangible assets, net 209,244 225,438
Goodwill 101,541 101,541
Long-term portion of financial royalty assets, net 194,228 196,877
Noncurrent derivative assets 17,913 15,632
Equity method investments 42,390 46,500
Other investments 114,483 121,451
Deferred income taxes, net 37,119 8,345
Other assets 11,841 12,582
Total assets 2,185,875 1,560,637
Current liabilities:    
Accounts payable 9,405 3,238
Accrued liabilities 31,867 31,453
Income taxes payable 3,217 1,239
Current contingent liabilities 210 287
Current operating lease liabilities 1,082 1,095
Other current liabilities 955 135
Total current liabilities 46,736 37,447
Long-term contingent liabilities 2,382 2,934
Long-term operating lease liabilities 3,777 4,204
Convertible senior notes, net 1,126,594 446,192
Deferred income taxes, net 21,654 36,019
Other long-term liabilities 17,216 16,629
Total liabilities 1,218,359 543,425
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000 shares authorized; zero issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value; 60,000 shares authorized; 19,920 and 19,774 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 20 20
Additional paid-in capital 379,769 400,649
Accumulated other comprehensive income 4,476 8,455
Retained earnings 583,251 608,088
Total stockholders’ equity 967,516 1,017,212
Total liabilities and stockholders’ equity $ 2,185,875 $ 1,560,637