v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Total revenues $ 3,713,937 $ 2,248,243 $ 1,828,292
Operating costs and expenses:      
Cost of goods sold 677,166 306,513 268,216
Cost of collaborations and royalties 4,705 16,857 42,190
Research and development 1,319,775 1,126,232 1,004,415
Selling, general and administrative 1,210,713 975,526 795,646
Total operating costs and expenses 3,212,359 2,425,128 2,110,467
Income (loss) from operations 501,578 (176,885) (282,175)
Other expense:      
Interest expense (252,627) (141,858) (121,221)
Interest income 111,470 121,992 95,561
Loss related to convertible debt (42,473) 0 0
Other income (expense), net 5,204 (180,624) (125,682)
Total other expense, net (178,426) (200,490) (151,342)
Income (loss) before income taxes 323,152 (377,375) (433,517)
(Provision for) benefit from income taxes (9,405) 99,218 (6,725)
Net income (loss) $ 313,747 $ (278,157) $ (440,242)
Net income (loss) per common share, basic (in dollars per share) $ 2.39 $ (2.18) $ (3.52)
Net income (loss) per common share, diluted (in dollars per share) $ 2.33 $ (2.18) $ (3.52)
Weighted average common shares, basic (in shares) 131,004,000 127,651,000 124,906,000
Weighted average common shares, diluted (in shares) 134,684,000 127,651,000 124,906,000
Statements of Comprehensive Income (Loss)      
Net income (loss) $ 313,747 $ (278,157) $ (440,242)
Other comprehensive income (loss):      
Unrealized gains (losses) on marketable securities 1,816 (4) 11,018
Foreign currency translation gains (losses) 11,624 (9,643) 11,922
Defined benefit pension plans, net of tax 981 (1,496) (1,661)
Net other comprehensive loss 14,421 (11,143) 21,279
Comprehensive income (loss) 328,168 (289,300) (418,963)
Net product revenues      
Revenues:      
Total revenues 2,986,549 1,646,228 1,241,474
Net revenues from collaborations      
Revenues:      
Total revenues 553,366 510,221 546,185
Royalty revenue      
Revenues:      
Total revenues $ 174,022 $ 91,794 $ 40,633