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Certain Balance Sheet Items | 9 Months Ended
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Sep. 30, 2025
Balance Sheet Related Disclosures [Abstract] |
Certain Balance Sheet Items | Certain Balance Sheet Items Accounts receivable, net and contract assets consisted of the following (in thousands):
|  | September 30, 2025 |  | December 31, 2024
Product sales to partners |  | $ | 39,602 |  |  | $ | 37,599 |
Revenues under collaborative agreements |  | 21,238 |  |  | 29,452 |
Royalty payments |  | 233,030 |  |  | 164,348 |
Other product sales |  | 57,469 |  |  | 65,542 |
Contract assets |  | 2,500 |  |  | 20,251 |
Total accounts receivable and contract assets |  | 353,839 |  |  | 317,192 |
Allowance for distribution fees and discounts |  | (7,804) |  |  | (8,737) |
Total accounts receivable, net and contract assets |  | $ | 346,035 |  |  | $ | 308,455 |
Inventories consisted of the following (in thousands):
|  | September 30, 2025 |  | December 31, 2024
Raw materials |  | $ | 18,961 |  |  | $ | 24,015 |
Work-in-process |  | 34,840 |  |  | 30,169 |
Finished goods |  | 161,590 |  |  | 142,944 |
Total inventories |  | 215,391 |  |  | 197,128 |
Less long-term portion (1) |  | (29,595) |  |  | (55,268) |
Total inventories, current |  | $ | 185,796 |  |  | $ | 141,860 |
(1) Long-term portion of inventories represents inventory expected to remain on hand beyond one year and therefore is included in prepaid expenses and other assets in the condensed consolidated balance sheets. Prepaid expenses and other assets consisted of the following (in thousands):
|  | September 30, 2025 |  | December 31, 2024
Prepaid manufacturing expenses |  | $ | 56,027 |  |  | $ | 36,317 |
Other prepaid expenses |  | 47,084 |  |  | 10,562 |
Long-term inventories |  | 29,595 |  |  | 55,268 |
Other assets |  | 17,947 |  |  | 17,400 |
Total prepaid expenses and other assets |  | 150,653 |  |  | 119,547 |
Less long-term portion |  | (55,698) |  |  | (80,596) |
Total prepaid expenses and other assets, current |  | $ | 94,955 |  |  | $ | 38,951 |
Prepaid manufacturing expenses include raw materials, slot reservation fees and other amounts paid to contract manufacturing organizations. Such amounts are reclassified to work-in-process inventory as materials are used or the contract manufacturing organization services are complete. Property and equipment, net consisted of the following (in thousands):
|  | September 30, 2025 |  | December 31, 2024
Research equipment |  | $ | 10,540 |  |  | $ | 9,811 |
Manufacturing equipment |  | 43,366 |  |  | 39,760 |
Computer and office equipment |  | 8,054 |  |  | 7,955 |
Internal-use software |  | 2,246 |  |  | 1,755 |
Leasehold improvements |  | 7,428 |  |  | 7,012 |
Subtotal |  | 71,634 |  |  | 66,293 |
Accumulated depreciation and amortization |  | (31,059) |  |  | (25,429) |
Subtotal |  | 40,575 |  |  | 40,864 |
Right of use of assets |  | 30,845 |  |  | 34,171 |
Total property and equipment, net |  | $ | 71,420 |  |  | $ | 75,035 |
Depreciation and amortization expense was approximately $2.7 million and $2.6 million, inclusive of ROU asset amortization of $1.5 million and $1.4 million for the three months ended September 30, 2025 and 2024, respectively. Depreciation and amortization expense was approximately $8.1 million and $7.6 million, inclusive of ROU asset amortization of $4.5 million and $4.3 million for the nine months ended September 30, 2025 and 2024, respectively. Accrued expenses consisted of the following (in thousands):
|  | September 30, 2025 |  | December 31, 2024
Accrued compensation and payroll taxes |  | $ | 15,831 |  |  | $ | 24,400 |
Accrued outsourced manufacturing expenses |  | 8,429 |  |  | 16,682 |
Taxes payable |  | 26,021 |  |  | 30,995 |
Product returns and sales allowance |  | 48,442 |  |  | 54,588 |
Other accrued expenses |  | 56,158 |  |  | 26,239 |
Lease liability |  | 28,101 |  |  | 30,705 |
Total accrued expenses |  | 182,982 |  |  | 183,609 |
Less long-term portion |  | (71,799) |  |  | (54,758) |
Total accrued expenses, current |  | $ | 111,183 |  |  | $ | 128,851 |
Expense associated with the accretion of the lease liabilities was approximately $0.6 million and $0.5 million for the three months ended September 30, 2025 and 2024, respectively, and $1.6 million and $1.7 million for the nine months ended September 30, 2025 and 2024, respectively. Total lease expense for the three months ended September 30, 2025 and 2024 was $2.1 million and $2.0 million, respectively, and $6.1 million and $6.0 million for the nine months ended September 30, 2025 and 2024, respectively. Cash paid for amounts related to leases for the three months ended September 30, 2025 and 2024 was $1.9 million and $1.6 million, respectively, and $5.4 million and $5.1 million for the nine months ended September 30, 2025 and 2024, respectively.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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