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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Revenue $ 133,814 $ 144,207 $ 478,562 $ 463,142
Expenses:        
Cost of sales 1,071 2,191 7,385 6,071
Research, development and patent 219,761 215,330 656,040 643,070
Selling, general and administrative 61,638 69,951 179,395 161,608
Total operating expenses 282,470 287,472 842,820 810,749
Loss from operations (148,656) (143,265) (364,258) (347,607)
Other income (expense):        
Investment income 26,228 23,935 78,112 63,355
Interest expense (4,161) (4,203) (12,803) (8,102)
Interest expense related to sale of future royalties (18,533) (17,779) (54,788) (50,948)
Gain (loss) on investments 879 (1,943) (321) (1,753)
Other income 142 2,447 1,029 13,857
Loss before income tax benefit (expense) (144,101) (140,808) (353,029) (331,198)
Income tax benefit (expense) 3,621 (6,602) 3,481 (25,825)
Net loss $ (140,480) $ (147,410) $ (349,548) $ (357,023)
Basic net loss per share (in dollars per share) $ (0.95) $ (1.03) $ (2.38) $ (2.5)
Diluted net loss per share (in dollars per share) $ (0.95) $ (1.03) $ (2.38) $ (2.5)
Shares used in computing basic net loss per share (in shares) 148,593 143,317 146,703 143,052
Shares used in computing diluted net loss per share (in shares) 148,593 143,317 146,703 143,052
Commercial Revenue [Member]        
Revenue:        
Revenue $ 75,731 $ 84,081 $ 207,360 $ 229,746
SPINRAZA Royalties [Member]        
Revenue:        
Revenue 57,208 67,253 152,406 178,511
WAINUA Royalties [Member]        
Revenue:        
Revenue 5,371 0 10,278 0
Other Commercial Revenue [Member]        
Revenue:        
Revenue 13,152 16,828 44,676 51,235
Research and Development Revenue [Member]        
Revenue:        
Revenue 58,083 60,126 271,202 233,396
Collaborative Agreement Revenue [Member]        
Revenue:        
Revenue 44,883 44,167 235,753 173,513
WAINUA Joint Development Revenue [Member]        
Revenue:        
Revenue $ 13,200 $ 15,959 $ 35,449 $ 59,883