Basis of Presentation and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2025

Accounting Policies [Abstract]

Fair Value Measurement Specific to Assets or Liability

	Fair Value Measurements at Reporting Date Using (in thousands)
	Balances as of March 31, 2025		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents:
Money market funds	$	369,471	$	369,471	$	—	$	—
U.S. Treasuries	$	164,320	$	164,320	$	—	$	—
Investment in equity securities:
Equity securities	$	24,208	$	24,208	$	—	$	—

	Fair Value Measurements at Reporting Date Using (in thousands)
	Balances as of December 31, 2024		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents:
Money market funds	$	109,947	$	109,947	$	—	$	—
U.S. Treasuries	$	329,457	$	329,457	$	—	$	—
Investment in equity securities:
Equity securities	$	21,564	$	21,564	$	—	$	—

Summary of Disaggregated Product Revenue

The following table summarizes the Company’s net product revenue disaggregated by product (in thousands):

	For the Three Months Ended March 31,
	2025		2024
FIRDAPSE®	$	83,731	$	66,842
FYCOMPA®		35,627		30,425
AGAMREE®*		22,042		1,174
Total product revenue, net	$	141,400	$	98,441

_________________

*AGAMREE® net product revenue for the three months ended March 31, 2024 is for the period between March 13, 2024 (date of commercial launch) and March 31, 2024.

Summary of Percentage of the Company's Total Net Product Revenue

The following table illustrates the approximate percentage of the Company’s total net product revenue attributed to the Company’s largest customers for the periods presented:

	For the Three Months Ended March 31,
	2025			2024
Customer A		74.0	%		69.1	%
Customer B		6.4	%		10.5	%
Customer C		8.3	%		10.1	%
Total		88.7	%		89.7	%

Basic and Dilutive Weighted Average Common Shares

The following table reconciles basic and diluted weighted average common shares:

	For the Three Months Ended March 31,
	2025		2024
Basic weighted average common shares    outstanding		121,472,468		116,806,117
Effect of dilutive securities		5,485,514		6,597,509
Diluted weighted average common shares    outstanding		126,957,982		123,403,626

Schedule of Significant Segment Expenses of Stock-based Compensation

The following table illustrates information about significant segment expenses, inclusive of stock-based compensation:

	For the Three Months Ended March 31,
	2025		2024
Research and development	$	3,887	$	2,581
Selling		32,100		26,998
General and administrative (a)		14,811		19,940
Total	$	50,798	$	49,519

__________________________________________

(a) exclusive of amortization of intangible assets