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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income (loss) $ 226,451 $ (61,286) $ (215,975)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Stock-based compensation 67,049 66,421 68,201
Amortization of premiums and accretion of discounts on investment securities (9,304) (7,533) (2,736)
Amortization of intangible assets 14,963 4,093 0
Gain on sale of non-financial asset (146,515) 0 0
Gain on strategic investment 0 (5,109) (3,542)
Depreciation 920 1,459 2,026
Loss on sale of investment securities 0 524 0
Changes in operating assets and liabilities:      
Accounts receivable, net (472) (36,072) 2,171
Interest and other receivables (1,873) (3,198) 93
Inventory (49,550) (28,808) 2,415
Prepaid expenses and other current assets (16,590) (17,693) 2,494
Operating lease right-of-use assets 7,502 5,769 6,566
Other assets 117 (33) (48)
Accounts payable (1,351) 4,797 5,870
Accrued liabilities 71,061 93,170 24,306
Operating lease liabilities (7,598) (5,872) (7,916)
Long-term liabilities 2,909 6,073 2,040
Net cash provided by (used in) operating activities 157,719 16,702 (114,035)
Cash flows from investing activities      
Purchases of investment securities (505,095) (369,985) (363,174)
Sale and maturity of investment securities 328,565 429,780 436,415
Proceeds from sale of non-financial asset 146,515 0 0
Proceeds from sales of strategic investment 0 12,253 0
Net purchases of property and equipment (523) (50) 0
Intangible assets 0 (40,000) 0
Net cash (used in) provided by investing activities (30,538) 31,998 73,241
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs 6,845 25,129 8,199
Net cash provided by financing activities 6,845 25,129 8,199
Effect of exchange rate changes on cash (94) (18) 6
Net increase (decrease) in cash, cash equivalents and restricted cash 133,932 73,811 (32,589)
Cash, cash equivalents and restricted cash      
Beginning of period 194,427 120,616 153,205
End of period 328,359 194,427 120,616
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 19,521 5,850 2,190
Supplemental disclosure of noncash information:      
Accrued inventory purchases 1,268 0 0
Accrued milestone and contingent payments in connection with asset acquisition $ 98,838 $ 29,583 $ 0