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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Revenue $ 452,049 $ 225,250 $ 583,660 $ 344,748
Expenses:        
Cost of sales 4,151 4,164 5,614 6,314
Research, development and patent 217,460 222,064 418,219 436,280
Selling, general and administrative 90,622 65,113 166,872 117,758
Total operating expenses 312,233 291,341 590,705 560,352
Income (loss) from operations 139,816 (66,091) (7,045) (215,604)
Other income (expense):        
Investment income 24,687 25,599 49,354 51,884
Interest expense (4,114) (4,490) (8,223) (8,641)
Interest expense related to sale of future royalties (18,648) (18,296) (37,470) (36,254)
Loss on investments, net (18,312) (3,533) (20,476) (1,200)
Other income, net 102 610 569 887
Income (loss) before income tax benefit (expense) 123,531 (66,201) (23,291) (208,928)
Income tax benefit (expense) 20 (64) (96) (140)
Net income (loss) $ 123,551 $ (66,265) $ (23,387) $ (209,068)
Basic net income (loss) per share (in Dollars per share) $ 0.78 $ (0.45) $ (0.15) $ (1.43)
Diluted net income (loss) per share (in Dollars per share) $ 0.7 $ (0.45) $ (0.15) $ (1.43)
Shares used in computing basic net income (loss) per share (in Shares) 159,137 145,958 158,937 145,748
Shares used in computing diluted net income (loss) per share (in Shares) 182,331 145,958 158,937 145,748
Product Sales, Net [Member]        
Revenue:        
Revenue $ 19,273 $ 0 $ 25,561 $ 0
Royalty Revenue [Member]        
Revenue:        
Revenue 69,952 63,844 134,117 113,229
Other Commercial Revenue [Member]        
Revenue:        
Revenue 13,531 8,192 19,246 18,400
Commercial Revenue [Member]        
Revenue:        
Revenue 102,756 72,036 178,924 131,629
Collaborative Agreement Revenue [Member]        
Revenue:        
Revenue 336,921 141,524 381,951 190,870
WAINUA Joint Development Revenue [Member]        
Revenue:        
Revenue 12,372 11,690 22,785 22,249
Research and Development Revenue [Member]        
Revenue:        
Revenue $ 349,293 $ 153,214 $ 404,736 $ 213,119