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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 34,228 $ 44,239
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in estimated fair value of contingent liabilities 1,200 108
Depreciation and amortization of intangible assets 17,618 18,994
Amortization of premium on investments, net (587) (659)
Amortization of debt discount and issuance fees 180 159
Non-cash income from financial royalty assets 0 (814)
CECL adjustment to financial royalty assets (4,260) 0
Impairment loss of financial royalty assets 26,491 0
Gain on derivative instruments (1,696) 0
Losses from equity method investment in Primrose Bio 10,382 0
Fair value adjustment to Primrose Bio securities investments 25,759 0
Share-based compensation 18,394 13,138
Deferred income taxes (1,120) (1,246)
Gain from short-term investments (96,516) (43,524)
Lease amortization expense 982 897
Other 358 153
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable (5,587) 2,476
Inventory 5,121 (10,966)
Accounts payable and accrued liabilities 390 (4,960)
Income tax receivable and payable 8,486 16,001
Deferred revenue (940) (5)
Other assets and liabilities (6,837) (125)
Net cash provided by operating activities 32,046 33,866
Cash flows from investing activities:    
Purchase of financial royalty assets (4,174) 0
Proceeds from financial royalty assets 4,207 213
Purchase of short-term investments (102,075) (88,989)
Proceeds from sale of short-term investments 98,908 88,832
Proceeds from maturity of short-term investments 23,611 20,666
Cash paid for investment in Primrose Bio (998) 0
Cash paid for Palvella notes receivable (2,500) 0
Cash paid for the Agenus transaction (75,000) 0
Purchase of property and equipment (513) (2,617)
Net cash (used in) provided by investing activities (58,534) 18,105
Cash flows from financing activities:    
Repayment at maturity/repurchase of 2023 Notes 0 (76,854)
Payments under finance lease obligations (9) (26)
Net proceeds from stock option exercises and ESPP 24,856 12,535
Taxes paid related to net share settlement of equity awards (3,076) (4,187)
Cash paid for debt issuance costs (98) 0
Net cash provided by (used in) financing activities 21,673 (68,532)
Net increase in cash and cash equivalents (4,815) (16,561)
Cash and cash equivalents at beginning of period 22,954 45,006
Cash and cash equivalents at end of period 18,139 28,445
Supplemental disclosure of cash flow information:    
Interest paid 112 288
Taxes paid 5,772 0
Supplemental schedule of non-cash activity:    
Addition of right-of-use assets and lease liabilities 1,737 0
Accrued fixed asset purchases 25 532
Unrealized (loss) gain on AFS investments, net of tax $ (118) $ 17