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Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2024
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:
March 31, 2024
(in thousands)Total Fair
Value		Level 1Level 2Level 3
Assets:
   Money market funds$543,369 $543,369 $— $— 
   Investment securities138,960 138,960 — — 
Total assets$682,329 $682,329 $— $— 
Liabilities:
   Contingent consideration liabilities$2,700 $— $— $2,700 
Total liabilities$2,700 $— $— $2,700 
December 31, 2023
(in thousands)Total Fair
Value		Level 1Level 2Level 3
Assets:
   Money market funds$574,131 $574,131 $— $— 
Total assets$574,131 $574,131 $— $— 
Liabilities:
   Contingent consideration liabilities$2,700 $— $— $2,700 
Total liabilities$2,700 $— $— $2,700 
Schedule of Quantitative Information and Assumptions Pertaining to the Fair Value Measurement of the Level 3 Inputs
The following tables summarize quantitative information and assumptions pertaining to the fair value measurement of liabilities using Level 3 inputs at March 31, 2024.



Fair Value atAssumptions
(in thousands)March 31, 2024December 31, 2023Valuation TechniqueUnobservable InputMarch 31, 2024December 31, 2023
Contingent consideration liability:
1095 commercialization milestone1,800 1,800 Probability adjusted discounted cash flow model
Period of expected milestone achievement20262026
Probability of success40 %40 %
Discount rate4.6 %4.1 %
Net sales targets - AZEDRA and 1095900 900 Monte Carlo simulation
Probability of success and sales targets
0% - 40%
0% - 40%
Discount rate
16%
15%
Total$2,700 $2,700 
Schedule of Financial Instruments with Significant Level 3 Inputs
For those financial instruments with significant Level 3 inputs, the following table summarizes the activities for the periods indicated:
Financial Liabilities
(in thousands)Three Months Ended
March 31,
20242023
Fair value, beginning of period$2,700 $111,600 
Changes in fair value included in net (loss) income— (1,400)
Fair value, end of period$2,700 $110,200