Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table illustrates information about segment revenues, significant segment expenses, and segment net income (loss) for the years ended December 31, 2025, 2024, and 2023 (in thousands):

	Years Ended December 31,
	2025		2024		2023
Revenues	$	874,837	$	450,712	$	331,412
Less1:
Cost of product sales	19,075		12,269		4,481
Research and development (excluding stock-based compensation)
Berotralstat	12,148		10,950		13,780
BCX17725	17,304		12,389		10,218
Avoralstat	9,497		7,547		6,314
Factor D Program	456		8,534		40,111
Research, discovery and preclinical programs	17,677		12,733		12,286
Compensation and related personnel costs	51,576		59,010		64,377
Other non-program specific and indirect costs	27,958		32,190		40,103
Sales and marketing (excluding stock-based compensation)	177,085		152,166		134,262
General and administrative (excluding stock-based compensation)	116,006		80,054		53,574
Stock-based compensation	85,066		65,413		55,615
Interest income	(10,668)		(14,746)		(15,777)
Interest expense	78,872		98,516		108,239
Foreign currency losses, net	152		641		1,039
Loss on extinguishment of debt	17,332		—		29,019
Other income	(12,090)		—		—
Income tax expense	3,530		1,927		310
Segment net income (loss)	263,861		(88,881)		(226,539)
Reconciliation of segment profit or loss:
Adjustments and reconciling items	—		—		—
Consolidated net income (loss)	$	263,861	$	(88,881)	$	(226,539)
1 The significant segment expenses align with the segment-level information that is regularly provided to the CODM.