Sage Acquisition (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Purchase Price Allocation

The following preliminary purchase price allocation table presents the Company' preliminary estimates of the fair value of assets acquired and liabilities assumed as of the Sage Closing Date (unaudited, dollars in thousands):

	Fair Value (unaudited)
Cash and cash equivalents	$	243,197
Marketable securities	93,181
Accounts receivable, net	23,291
Inventories, net	50,714
Prepaid expenses and other current assets	18,674
Restricted cash	1,450
Operating lease asset (1)	5,630
Intangible assets	166,500
Other assets	1,102
Total fair value of assets acquired	603,739
Accounts payable and accrued liabilities	44,232
Operating lease liability (1)	12,380
Total fair value of liabilities assumed	56,612
Total identifiable net assets	$	547,127
Goodwill	2,061
Total purchase price	$	549,188
Cash consideration paid for Sage's common stock	$	533,667
Cash consideration paid for cash settlement of Sage's equity awards	4,073
Fair value of contingent consideration	11,448
Total purchase price	$	549,188

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(1) Refer to Note 13, Leases, for further discussion of the acquired lease asset and assumed lease liability.

Schedule of Acquired Intangible Assets

The following table summarizes the purchase price allocation, and the average remaining useful lives for identifiable intangible assets (unaudited, dollars in thousands):

	Fair Value (unaudited)		Estimated Useful Lives (in years)
Acquired developed technology and product rights	$	166,500	8
Total intangible assets	$	166,500

Schedule of Pro Forma Information

The following table presents the unaudited pro forma combined financial information for each of the periods presented as if the Sage Acquisition had occurred on January 1, 2024 (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
	(unaudited)				(unaudited)
Pro forma total revenues	$	199,637	$	187,560	$	560,639	$	516,085
Pro forma net loss	$	(24,386)	$	(62,559)	$	(140,531)	$	(321,112)