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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 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:
June 30, 2024
(in thousands)Total Fair
Value		Level 1Level 2Level 3
Assets:
   Money market funds$575,974 $575,974 $— $— 
   Investment securities116,423 116,423 — — 
Total assets$692,397 $692,397 $— $— 
Liabilities:
   Contingent consideration liabilities$2,800 $— $— $2,800 
Total liabilities$2,800 $— $— $2,800 
    
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 June 30, 2024.



Fair Value atAssumptions
(in thousands)June 30, 2024December 31,
2023		Valuation TechniqueUnobservable InputJune 30, 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 rate4.5 %4.1 %
Net sales targets - AZEDRA and 10951,000 900 Monte Carlo simulation
Probability of success and sales targets
0% - 40%
0% - 40%
Discount rate
15%
15%
Total$2,800 $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)Six Months Ended
June 30,
20242023
Fair value, beginning of period$2,700 $111,600 
Changes in fair value included in net income100 (8,975)
Cash payments— (99,625)
Fair value, end of period$2,800 $3,000