Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The tables below present information about the Company’s assets and liabilities measured at fair value on a recurring basis:

			June 30, 2025
	Total Fair
(in thousands)	Value		Level 1		Level 2		Level 3
Assets:
Money market funds	$	533,320	$	533,320	$	—	$	—
Investment securities		44,235		44,235		—		—
Total assets	$	577,555	$	577,555	$	—	$	—
Liabilities:
Deferred compensation plan liabilities	$	777	$	777	$	—	$	—
Contingent consideration liabilities		43,042		—		—		43,042
Total liabilities	$	43,819	$	777	$	—	$	43,042
			December 31, 2024
	Total Fair
(in thousands)	Value		Level 1		Level 2		Level 3
Assets:
Money market funds	$	682,209	$	682,209	$	—	$	—
Investment securities		39,489		39,489		—		—
Total assets	$	721,698	$	721,698	$	—	$	—

Schedule of Company's Contingent Consideration Liabilities

The recurring Level 3 fair value measurements of the Company's contingent consideration liabilities include the following significant unobservable inputs (in thousands, except percent data):

	Fair Value at
Contingent Consideration Liability	June 30, 2025		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Development and commercialization milestones		39,888	Discounted cash flow	Payment discount rate	7.8% - 12.1%	7.9%
				Probability of payment	0% - 100%	23.4%
				Range of expected payment dates	2026 - 2037	N/A
Sales milestone		3,154	Scenario analysis	Revenue volatility	37.5%	37.5%
				Revenue discount rate	9.1% - 9.4%	N/A
				Payment discount rate	7.9% - 9.2%	N/A
Total contingent consideration liabilities	$	43,042