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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,113,685 $ 966,428
Marketable debt securities 1,743,900 1,719,920
Marketable equity securities 0 8,156
Accounts receivable, net 567,112 405,308
Inventory 71,688 78,509
Prepaid expenses and other current assets 147,314 116,964
Total current assets 3,643,699 3,295,285
Property, plant and equipment, net 499,791 502,784
Operating lease right-of-use assets 192,401 191,148
Deferred tax assets 104,363 116,863
Restricted investments 68,593 68,593
Other assets 57,172 65,310
Total assets 4,566,019 4,239,983
Current liabilities:    
Accounts payable 102,393 88,415
Accrued expenses 918,966 793,692
Operating lease liabilities 46,097 41,886
Deferred revenue 15,080 55,481
Liability related to the sale of future royalties 97,523 113,018
Development derivative liability 120,788 93,780
Total current liabilities 1,300,847 1,186,272
Operating lease liabilities, net of current portion 224,445 229,541
Convertible debt 1,026,522 1,024,621
Liability related to the sale of future royalties, net of current portion 1,345,147 1,334,353
Development derivative liability, net of current portion 407,535 393,139
Other liabilities 10,932 4,969
Total liabilities 4,315,428 4,172,895
Commitments and contingencies (Note 12)
Stockholders' equity:    
Preferred stock, $0.01 par value per share, 5,000 shares authorized and no shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value per share, 250,000 shares authorized; 130,977 shares issued and outstanding as of June 30, 2025; 129,294 shares issued and outstanding as of December 31, 2024 1,310 1,293
Additional paid-in capital 7,690,737 7,388,061
Accumulated other comprehensive loss (29,952) (34,518)
Accumulated deficit (7,411,504) (7,287,748)
Total stockholders' equity 250,591 67,088
Total liabilities and stockholders' equity $ 4,566,019 $ 4,239,983