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Inventories, Net
 9 Months Ended
Sep. 30, 2026
Inventory Disclosure [Abstract]  
Inventories, Net Inventories, Net
The following table presents the Company’s inventories, net ($ in thousands):
September 30, 2026December 31, 2025
Finished goods57,258 45,848 
Raw materials24,190 23,106 
Work in progress3,844 5,791 
Inventories, net85,292 74,745 
The Company writes down inventory for any excess or obsolete inventory or when the Company believes that the net realizable value of inventory is less than the carrying value. The Company recorded write-downs in inventory, which were included in cost of product revenue, of $7.5 million and $13.6 million in the three and nine months ended September 30, 2026, respectively, and $0.6 million and $0.9 million in the three and nine months ended September 30, 2025, respectively. The inventory write-down in the three and nine months ended September 30, 2026 was mainly related to VYVGART Hytrulo.