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SEGMENT INFORMATION (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Company`s segment, including segment expenses, and a reconciliation to net income (loss) The table below includes information about the Company’s segment, including significant segment expenses, and a reconciliation to net income (loss):

 

 

 

For the Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Total revenues

 

$

1,901,979

 

 

$

1,243,336

 

 

$

933,013

 

 

 

 

 

 

 

 

 

 

 

Segment expenses and other segment items

 

 

 

 

 

 

 

 

 

Cost of sales (excluding amortization of in-licensed rights)

 

 

319,099

 

 

 

150,343

 

 

 

139,989

 

Compensation and other personnel expenses

 

 

335,830

 

 

 

319,080

 

 

 

256,382

 

Manufacturing expenses

 

 

329,011

 

 

 

345,826

 

 

 

466,111

 

Clinical trial expenses

 

 

163,565

 

 

 

187,289

 

 

 

135,838

 

Facility- and technology-related expenses (excluding depreciation and amortization)

 

 

106,281

 

 

 

88,559

 

 

 

71,700

 

Research and development- other (excluding non-cash items) (a)

 

 

108,597

 

 

 

118,727

 

 

 

117,171

 

Selling, general and administrative- other (excluding non-cash items) (b)

 

 

226,598

 

 

 

181,310

 

 

 

124,948

 

Roche collaboration reimbursement

 

 

(127,107

)

 

 

(106,885

)

 

 

(117,807

)

Other segment items (c)

 

 

(30,449

)

 

 

(49,129

)

 

 

(11,014

)

Interest expense

 

 

18,391

 

 

 

22,010

 

 

 

53,248

 

Interest income

 

 

(30,635

)

 

 

(36,257

)

 

 

(16,488

)

Income tax expense

 

 

25,535

 

 

 

15,879

 

 

 

13,525

 

Depreciation and amortization expense

 

 

37,724

 

 

 

44,397

 

 

 

41,864

 

Stock-based compensation expense

 

 

184,300

 

 

 

182,514

 

 

 

233,018

 

Gain from sale of Priority Review Voucher

 

 

 

 

 

(102,000

)

 

 

 

Impairment of strategic investments

 

 

 

 

 

30,321

 

 

 

2,575

 

Loss on debt extinguishment

 

 

 

 

 

387,329

 

 

 

125,441

 

Segment net income (loss)

 

$

235,239

 

 

$

(535,977

)

 

$

(703,488

)

 

 

 

 

 

 

 

 

 

 

Reconciliation of profit or loss

 

 

 

 

 

 

 

 

 

Adjustments and reconciling items

 

 

 

 

 

 

 

 

 

Consolidated net income (loss)

 

$

235,239

 

 

$

(535,977

)

 

$

(703,488

)

 

(a) Research and development-other includes professional services, up-front, milestone, and other expenses, pre-clinical expenses and research and other expenses.

(b) Selling, general and administrative-other includes professional services and other expenses.

(c) Other segment items included in segment net income (loss) include accretion of investment discount, net, change in fair value of derivatives and other, net, as well as the items separately presented and not defined as significant expenses below.