v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities:    
Net loss $ (124,236) $ (28,275)
Net income from discontinued operations 8,200 0
Net loss from continuing operations (132,436) (28,275)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 34,645 42,606
Share based compensation 61,372 33,404
Foreign currency remeasurement impact 1,362 (2,466)
Inducement expense 40,008 0
Acquired in-process research and development 113,115 0
Other (3,620) (1,500)
Changes in operating assets and liabilities:    
Accounts receivable (42,505) (55,641)
Inventory (6,054) 3,839
Prepaid expenses and other current and non-current assets (12,466) (8,104)
Accounts payable (3,525) (6,332)
Accrued expenses 44,546 11,501
Deferred revenue 0 (2,815)
Other current and non-current liabilities (2,033) (9,111)
Net cash provided by (used in) operating activities - continuing operations 92,409 (22,894)
Net cash provided by operating activities - discontinued operations 23,500 0
Net cash provided by (used in) operating activities 115,909 (22,894)
Cash Flows From Investing Activities:    
Proceeds from the sale and maturity of marketable debt securities 164,060 241,175
Purchase of marketable debt securities (283,310) (69,217)
Purchase of fixed assets 0 (375)
Purchase of intangible assets (71,999) (38,918)
Acquisition of in-process research and development (113,115) 0
Other 0 66
Net cash (used in) provided by investing activities (304,364) 132,731
Cash Flows From Financing Activities:    
Payment of guaranteed minimum royalty (1,575) (1,575)
Proceeds from issuance of 2032 convertible senior notes 525,000 0
Payment of debt issuance costs (16,348) 0
Repayment of 2025 convertible senior notes 0 (68,904)
Repurchase of 2029 convertible senior notes including premium (350,885) 0
Proceeds from exercise of stock options 60,461 8,796
Proceeds from issuances under the employee stock purchase plan 2,356 1,537
Net cash provided by (used in) financing activities 219,009 (60,146)
Effect of exchange rate changes on cash (47) 2,704
Net increase in cash and cash equivalents 30,507 52,395
Cash and cash equivalents, beginning of year 93,035 58,535
Cash and cash equivalents, end of period $ 123,542 $ 110,930