v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 20,731 $ 26,195 $ 38,430 $ 41,583
Expenses:        
Research and development 4,712 10,490 10,541 21,942
Selling, general and administrative 14,176 18,430 31,896 36,800
Restructuring expenses 4,031   7,664  
Transaction-related expenses 6,089   6,089  
Total expenses 29,008 28,920 56,190 58,742
Loss from operations (8,277) (2,725) (17,760) (17,159)
Net gain on realized contingent milestone and royalty assets   75,137   75,137
Interest expense (non-cash)   (663)   (1,306)
Interest and other income, net 3,486 1,457 6,499 2,396
Income (loss) before income taxes (4,791) 73,206 (11,261) 59,068
Provision for income tax (expense) benefit (1,107) (18,371) 430 (17,812)
Net income (loss) $ (5,898) $ 54,835 $ (10,831) $ 41,256
Net income (loss) per share:        
Net income (loss) per share - basic (in dollars per share) $ (0.11) $ 1.09 $ (0.21) $ 0.83
Net income (loss) per share - diluted (in dollars per share) $ (0.11) $ 1.08 $ (0.21) $ 0.81
Shares used to compute net income (loss) per share - basic (in shares) 51,667 50,177 51,474 49,943
Shares used to compute net income (loss) per share - diluted (in shares) 51,667 50,726 51,474 50,685
Collaboration Agreement        
Revenues:        
Total revenues $ 20,731 $ 18,695 $ 38,430 $ 34,083
Licensing and Milestone        
Revenues:        
Total revenues   $ 7,500   $ 7,500