XML 26 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Revenues $ 452.7 $ 378.2 $ 873.1 $ 688.8
Operating expenses:        
Cost of revenues 11.5 4.8 20.0 9.4
Research and development 145.8 135.9 285.3 238.1
Acquired in-process research and development 0.0 0.0 143.9 0.0
Selling, general and administrative 221.8 182.8 464.5 383.5
Total operating expenses 379.1 323.5 913.7 631.0
Operating income (loss) 73.6 54.7 (40.6) 57.8
Other income (expense):        
Interest expense (1.3) (2.2) (2.4) (4.8)
Unrealized gain (loss) on equity security investments 37.3 (7.4) 39.5 12.5
Loss on extinguishment of convertible senior notes 0.0 (70.0) 0.0 (70.0)
Investment income and other, net 12.0 1.6 21.8 2.6
Total other income (loss), net 48.0 (78.0) 58.9 (59.7)
Income (loss) before provision for (benefit from) income taxes 121.6 (23.3) 18.3 (1.9)
Provision for (benefit from) income taxes 26.1 (6.4) (0.6) 1.1
Net income (loss) 95.5 (16.9) 18.9 (3.0)
Foreign currency translation adjustments, net of tax 0.9 0.0 2.1 0.0
Unrealized gain (loss) on debt securities available-for-sale, net of tax 0.7 (2.9) 4.7 (10.5)
Comprehensive income (loss) $ 97.1 $ (19.8) $ 25.7 $ (13.5)
Earnings (loss) per share:        
Basic (in USD per share) $ 0.98 $ (0.18) $ 0.19 $ (0.03)
Diluted (in USD per share) $ 0.95 $ (0.18) $ 0.19 $ (0.03)
Weighted-average shares outstanding:        
Basic (in shares) 97.6 95.6 97.4 95.4
Diluted (in shares) 100.2 95.6 100.3 95.4
Net product sales        
Revenues:        
Revenues $ 446.3 $ 352.0 $ 861.6 $ 657.0
Collaboration revenues        
Revenues:        
Revenues $ 6.4 $ 26.2 $ 11.5 $ 31.8