XML 45 R33.htm IDEA: XBRL DOCUMENT v3.25.3
Share-Based Payments (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
Share-based compensation expense is as follows (dollars in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025202420252024
(unaudited)(unaudited)
Research and development$1,446 $1,350 $4,337 $3,946 
Selling, general and administrative(1)
29,299 6,324 41,983 16,177 
Total$30,745 $7,674 $46,320 $20,123 
(1) Includes $22.9 million of compensation expense related to the acceleration of certain Sage equity awards in connection with the Sage Acquisition in July 2025. The Company has $14.4 million of unrecognized compensation expense related to CVRs granted to holders of the accelerated Sage equity awards. This unrecognized compensation expense will be recognized if and when the milestones associated with the CVRs become probable of achievement.
Schedule of Stock Options
The following table summarizes stock option activities:
Number of
Options
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term (in years)
Outstanding, December 31, 20246,719,073 $30.44 5.9
Granted 1,101,645 $33.82 
Exercised (1,171,953)$23.71 
Forfeited (128,117)$33.88 
Outstanding, September 30, 2025 (unaudited)6,520,648 $32.15 6.3
As of September 30, 2025 (unaudited):
Vested and expected to vest6,520,648 $32.15 6.3
Exercisable 3,857,789 $31.76 4.8
As of December 31, 2024:
Vested and expected to vest6,719,073 $30.44 5.9
Exercisable4,137,283 $29.54 4.4
Schedule of Restricted Stock Units
The following table summarizes restricted stock unit (RSU) activities:
Number of
RSUs
Weighted Average
Grant Date Fair Value per Share
Nonvested, December 31, 2024378,165 $32.48 
Granted172,725 $33.50 
Vested(137,923)$32.31 
Forfeited(15,424)$32.47 
Nonvested, September 30, 2025 (unaudited)397,543 $32.98 
Schedule of Performance Stock Unit
The following table summarizes performance share unit (PSU) activities:
Performance-Based UnitsMarket-Based UnitsTotal PSUs
Number of PSUsWeighted
Average
Grant Date Fair Value per Share
Number of PSUsWeighted
Average
Grant Date Fair Value per Share
Number of PSUsWeighted
Average
Grant Date Fair Value per Share
Nonvested, December 31, 2024324,685 $28.80 20,000 $28.63 344,685 $28.79 
Granted246,496 $32.84 — $— 246,496 $32.84 
Vested(138,510)$29.96 (20,000)$28.63 (158,510)$29.79 
Forfeited(38,800)$30.31 — $— (38,800)$30.31 
Nonvested, September 30, 2025 (unaudited)393,871$30.77 — $— 393,871$30.77