Subsequent Events |
9 Months Ended |
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Sep. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 13. Subsequent Events On October 2, 2026, the Company entered into a development agreement and related lease agreement for a new research and development (R&D) and manufacturing facility in Huntsville, Alabama (Huntsville Facility). The Huntsville Facility is expected to contain approximately 259,000 square feet situated on approximately 25 acres of land, and will include office, cleanroom, laboratory, warehouse and manufacturing space, which is anticipated to result in approximately $42.0 million in project costs over the multi-year project. The Company expects construction to begin in the fourth quarter of 2026. On October 8, 2026, the Company announced it had entered into an exclusive license agreement with RevOpsis Therapeutics, Inc. (RevOpsis) for the rights to research, develop, manufacture and commercialize a multi-specific biologic molecule, as well as up to four additional retinal products, utilizing RevOpsis’ proprietary platform. Under the agreement, the Company paid a non-refundable upfront license fee of $10.0 million. The Company may also be required to make development and regulatory milestone payments of up to $165.0 million for the licensed biologic molecule, and license fee and milestone payments of up to $175.0 million for each of the four additional products it has the right to license, for a total of $875.0 million in potential milestone payments in the event the Company licenses, develops and commercializes all five products. RevOpsis is also eligible to receive tiered royalties ranging from 3% to 8% on annual net sales of licensed products, and the Company has the right to designate one Company representative to serve on the RevOpsis board of directors. Effective as of October 21, 2026, the Company entered into agreement to acquire certain real property consisting of an approximately 40,000 square foot, two-story building, located in Aliso Viejo, California (the Aliso Building) and adjacent to the Company's existing Aliso Viejo, California corporate headquarters. The transaction is not expected to close until mid- to late-2027 and remains subject to certain closing conditions. The Aliso Building provides the Company with future expansion opportunities and potentially reduces future capital expenditures associated with construction of an additional building as part of the Company's corporate headquarters. The purchase price for the Aliso Building will be $15.2 million.
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