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Fair Value Measurements and Financial Instruments - Summary of Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Mar. 31, 2026 | Dec. 31, 2025
--- | --- | ---
Assets: |  |
Available for sale debt securities | $ 21,900 | $ 18,800
Equity securities | 173,270 | 171,312
Available for sale debt securities | 406,800 | 419,000
Fair Value, Recurring |  |
Assets: |  |
Total current assets | 343,003 | 402,368
Equity securities | 173,270 | 171,312
Total non-current assets | 580,070 | 590,312
Liabilities: |  |
Total non-current liabilities | (11,000) | (9,100)
Fair Value, Recurring | Cytokinetics Funding Commitment |  |
Liabilities: |  |
Cytokinetics Funding Commitments | (11,000) | (9,100)
Fair Value, Recurring | Available for sale debt securities |  |
Assets: |  |
Available for sale debt securities | 21,900 | 18,800
Available for sale debt securities | 406,800 | 419,000
Fair Value, Recurring | Money market funds |  |
Assets: |  |
Money market funds | 321,103 | 383,568
Fair Value, Recurring | Level 1 |  |
Assets: |  |
Total current assets | 321,103 | 383,568
Equity securities | 173,270 | 171,312
Total non-current assets | 173,270 | 171,312
Liabilities: |  |
Total non-current liabilities | 0 | 0
Fair Value, Recurring | Level 1 | Cytokinetics Funding Commitment |  |
Liabilities: |  |
Cytokinetics Funding Commitments | 0 | 0
Fair Value, Recurring | Level 1 | Available for sale debt securities |  |
Assets: |  |
Available for sale debt securities | 0 | 0
Available for sale debt securities | 0 | 0
Fair Value, Recurring | Level 1 | Money market funds |  |
Assets: |  |
Money market funds | 321,103 | 383,568
Fair Value, Recurring | Level 2 |  |
Assets: |  |
Total current assets | 0 | 0
Equity securities | 0 | 0
Total non-current assets | 0 | 0
Liabilities: |  |
Total non-current liabilities | 0 | 0
Fair Value, Recurring | Level 2 | Cytokinetics Funding Commitment |  |
Liabilities: |  |
Cytokinetics Funding Commitments | 0 | 0
Fair Value, Recurring | Level 2 | Available for sale debt securities |  |
Assets: |  |
Available for sale debt securities | 0 | 0
Available for sale debt securities | 0 | 0
Fair Value, Recurring | Level 2 | Money market funds |  |
Assets: |  |
Money market funds | 0 | 0
Fair Value, Recurring | Level 3 |  |
Assets: |  |
Total current assets | 21,900 | 18,800
Equity securities | 0 | 0
Total non-current assets | 406,800 | 419,000
Liabilities: |  |
Total non-current liabilities | (11,000) | (9,100)
Fair Value, Recurring | Level 3 | Cytokinetics Funding Commitment |  |
Liabilities: |  |
Cytokinetics Funding Commitments | (11,000) | (9,100)
Fair Value, Recurring | Level 3 | Available for sale debt securities |  |
Assets: |  |
Available for sale debt securities | 21,900 | 18,800
Available for sale debt securities | 406,800 | 419,000
Fair Value, Recurring | Level 3 | Money market funds |  |
Assets: |  |
Money market funds | $ 0 | $ 0

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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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