v3.26.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenue:        
Total revenue $ 259,936 $ 161,709 $ 705,189 $ 423,713
Costs and expenses:        
Cost of revenue 42,079 28,093 116,783 62,572
Research and development:        
Stock-based compensation 7,550 5,335 20,495 12,984
Other research and development 43,740 35,543 174,528 106,038
Total research and development 51,290 40,878 195,023 119,022
Selling, general and administrative:        
Stock-based compensation 17,153 12,351 52,033 36,035
Other selling, general and administrative 63,515 51,022 198,982 133,254
Total selling, general and administrative 80,668 63,373 251,015 169,289
Total costs and expenses 174,037 132,344 562,821 350,883
Operating income 85,899 29,365 142,368 72,830
Other expense (income):        
Interest expense 15,819 6,721 40,057 20,194
Loss on extinguishment of debt 0 0 9,153 0
Other income (3,782) (3,265) (11,301) (9,661)
Total other expense 12,037 3,456 37,909 10,533
Net income before taxes 73,862 25,909 104,459 62,297
Income tax (expense) benefit (18,399) 364,986 (21,438) 361,845
Net income $ 55,463 $ 390,895 $ 83,021 $ 424,142
Net income per common share        
Basic (in USD per share) $ 0.39 $ 2.69 $ 0.58 $ 2.90
Diluted (in USD per share) $ 0.35 $ 2.43 $ 0.52 $ 2.62
Weighted-average shares of common stock outstanding        
Basic (in shares) 140,786,274 145,416,901 142,318,594 146,273,554
Diluted (in shares) 155,925,050 160,997,977 157,741,254 162,102,373
Product revenue, net        
Revenue:        
Total revenue $ 240,043 $ 159,317 $ 677,145 $ 417,815
License, milestone, royalty and other revenue        
Revenue:        
Total revenue $ 19,893 $ 2,392 $ 28,044 $ 5,898