Debt (Tables)

9 Months Ended

Sep. 30, 2026

Debt

Schedule of liability for sale of future royalties


		Nine Months Ended September 30,
Liability for sale of future royalties- (current and noncurrent)		2026
Beginning balance as of December 31, 2025		$	2,308,366
Less: Non-cash royalty revenue payable to Royalty Pharma			(199,624)
Plus: Non-cash interest expense recognized			196,861
Ending balance		$	2,305,603
Effective interest rate as of September 30, 2026			11.0%

2031 Convertible Notes

Debt

Summary of convertible notes




		September 30, 2026			December 31, 2025
Principal		$	550,000		$	—
Less: Debt issuance costs			(13,732)			—
Net carrying amount		$	536,268		$	—

Schedule of interest expense recognized related to the convertible Notes



		Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Amortization of debt issuance costs		$	720		$	—		$	839		$	—
Total		$	720		$	—		$	839		$	—
Effective interest rate			0.5	%		—	%		0.5	%		—	%

2026 Convertible Notes

Debt

Summary of convertible notes



		September 30, 2026			December 31, 2025
Principal		$	287,500		$	287,500
Conversion of the 2026 Convertible Notes			(10,000)			—
Repurchase and final settlement of the 2026 Convertible Notes			(277,500)			—
Less: Debt issuance costs			—			(869)
Net carrying amount		$	—		$	286,631

Schedule of interest expense recognized related to the convertible Notes


			Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Contractual interest expense		$	172		$	1,081		$	2,071		$	3,217
Amortization of debt issuance costs			49			306			620			906
Total		$	221		$	1,387		$	2,691		$	4,123
Effective interest rate			1.9	%		1.9	%		1.9	%		1.9	%