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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Revenues $ 112,724 $ 470,347 $ 154,567
Operating Expenses      
Cost of revenues 54,545 51,833 35,714
Research and development 242,453 181,437 166,294
General and administrative 85,281 79,333 63,817
Credit losses (recoveries) 0 (2,569) 7,678
Other operating expenses (income) (6,679) 333 297
Total operating expenses 375,600 310,367 273,800
Income (loss) from operations (262,876) 159,980 (119,233)
Other Income (Expense)      
Interest income from licensing 342 719 4,271
Investment income 5,383 6,825 9,723
Interest expense (23,254) (26,277) (771)
Total other income (expense) (17,529) (18,733) 13,223
Income (loss) before income taxes (280,405) 141,247 (106,010)
Income Tax Benefit (Expense) 84 (13,407) (5,240)
Net income (loss) (280,321) 127,840 (111,250)
Other Comprehensive Loss      
Unrealized loss on available-for-sale securities, net (12,832) (2,209) (565)
Total other comprehensive loss (12,832) (2,209) (565)
Comprehensive income (loss) $ (293,153) $ 125,631 $ (111,815)
Earnings Per Share [Abstract]      
Basic $ (6.50) $ 3.01 $ (2.98)
Diluted $ (6.50) $ 2.91 $ (2.98)
Weighted-average common shares outstanding:      
Basic 43,152 42,438 37,281
Diluted 43,152 43,913 37,281
License and royalty [Member]      
Revenues      
Revenues $ 112,724 $ 470,347 $ 154,567