CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 38,894	$ 44,252
Short-term investments	179,738	210,974
Other current assets	11,281	6,066
Total current assets	229,913	261,292
Long-term investments	2,019	13,869
Property and equipment, net	3,162	3,411
Operating lease right-of-use assets	7,999	8,413
Equity method investment in Gannet BioChem	7,757	12,218
Other assets	5,391	4,647
Total assets	256,241	303,850
Current liabilities:
Accounts payable	17,834	11,560
Accrued expenses	31,254	29,972
Operating lease liabilities, current portion	21,842	19,868
Total current liabilities	70,930	61,400
Operating lease liabilities, less current portion	78,495	82,696
Liabilities related to the sales of future royalties, net	86,322	91,776
Other long-term liabilities	6,756	7,241
Total liabilities	242,503	243,113
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000 shares authorized; no shares designated or outstanding at March 31, 2025 or December 31, 2024, respectively	0	0
Common stock, $0.0001 par value; 300,000 shares authorized; 194,388 shares and 194,062 shares issued at March 31, 2025 and December 31, 2024, respectively; 186,103 shares and 185,777 shares outstanding at March 31, 2025 and December 31, 2024, respectively;	19	19
Capital in excess of par value	3,663,772	3,659,867
Treasury stock, at cost; 8,285 shares as of March 31, 2025 and December 31, 2024, respectively	(3,000)	(3,000)
Accumulated other comprehensive income (loss)	39	61
Accumulated deficit	(3,647,092)	(3,596,210)
Total stockholders’ equity	13,738	60,737
Total liabilities and stockholders’ equity	$ 256,241	$ 303,850